Newsletters

GlobeSt.com UPDATE: REIT Eyes HALO Replacement

NILES, IL-CenterPoint Properties Trust has fielded one "unacceptable" offer to buy its 267,344-sf state-of-the-art office building at 5800 W. Touhy Ave. but at least two lease proposals, including a "major international corporation.

By Mark Ruda | Updated on October 09, 2001

NILES, IL-CenterPoint Properties Trust may be making lemonade out of a lemon. With HALO Industries, Inc. vacating its 267,344-sf state-of-the-art office building at 5800 W. Touhy Ave. here, the largest industrial property owner in the Chicago market has been fielding offers to lease as well as buy the building built to suit for he promotional products distributor now under the protection of Chapter 11 bankruptcy reorganization.

The one offer to buy the building was deemed “unacceptable,” CenterPoint Chief Operating Officer Michael M.Mullen told analysts Tuesday. However, the company is working with the Illinois Department of Commerce and Community Affairs on a benefits package aimed at luring a “major international corporation” to the building, he added.

“Knock on wood, this could be a full-building user,” McMullen says.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

Unlimited access to GlobeSt and other free ALM publications
Access to 15 years of GlobeSt archives
Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
1 free article* every 30 days across the ALM subscription network
Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account? Sign In Now

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Resource Center

CRE strategies and business decisions are only as strong as the data that powers them, and that data better be correct. This self-assessment will help you gauge your current data management capabilities.

Assessment

Sponsored by Cherre

Data Management Scorecard: A Health Check for Your Data Management Capabilities and Challenges

CRE strategies and business decisions are only as strong as the data that powers them, and that data better be correct. This self-assessment will help you gauge your current data management capabilities.

Browse More Resources ›

CRE strategies and business decisions are only as strong as the data that powers them, and that data better be correct. This self-assessment will help you gauge your current data management capabilities.

Assessment

Sponsored by Cherre

Data Management Scorecard: A Health Check for Your Data Management Capabilities and Challenges

CRE strategies and business decisions are only as strong as the data that powers them, and that data better be correct. This self-assessment will help you gauge your current data management capabilities.

Browse More Resources ›

Does your data inspire confidence or is there a significant lack of trust in its validity? Use this assessment to gauge where your organization’s data practices are at today and what gaps exist.

Assessment

Sponsored by Cherre

Enabling Stakeholder Confidence in Your Data: A Self-Assessment for Real Estate Organizations

Does your data inspire confidence or is there a significant lack of trust in its validity? Use this assessment to gauge where your organization’s data practices are at today and what gaps exist.

Browse More Resources ›

GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
Exclusive discounts on ALM and GlobeSt events.
Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now

Copyright © 2024 ALM Global, LLC. All Rights Reserved.