Gates Discusses CenterPoint, Future

CHICAGO-The highlight of this year’s RealShare Chicago, which was attended by nearly 400 industry movers and shakers Thursday, was a straightforward interview with John S. Gates Jr. former co-chairman of CenterPoint Properties Trust. Gates, chairman and CEO of a newly formed business venture, Portae Co., discussed the current real estate market and his plans for the future with Real Estate Media group publisher and editorial director Michael Desiato during the popular conference segment, “Inside the Real Estate Mind.”

Gates pointed out that during his 22-year stint at the company, CenterPoint wasn’t just an industrial real estate developer, but an infrastructure developer as well. “Our projects in Joliet and Rochelle pointed that out.” Gates was referring to CenterPoint’s Intermodal Center in Rochelle and the former Joliet Arsenal that was transformed into CenterPoint’s Intermodal Center in Elwood. These two facilities facilitate the distribution of goods into the Chicagoland area that are then redistributed throughout the country.

“Trust is necessary in this business,” Gates said. CenterPoint’s goal from the start was to be the best industrial real estate firm. It was recommendations from lawyers, accountants, bankers, not just other real estate people, who help make the firm highly regarded, he explained to the RealShare audience.Desiato asked Gates, after having experienced working under both a private and public structure, which was better. “This depends on where you are in the evolution of your enterprise,” Gates responded. “Public markets are a great way to do that.” Gates explained that “capital is in abundance right now. People, regardless of whether they are in the public or private sector, want to know that their money is working for them.”