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CenterPoint Shifting its Gears

One of the largest industrial landlords in the nation has been focusing more intently on intermodal and port facilities.

By Brian J. Rogal | brianjrogal | Updated on October 04, 2017

chi-centerpoint proj (3) A 751K spec recently built at CenterPoint’s intermodal complex in Joliet, IL.

CHICAGO—CenterPoint Properties has decided to focus its attention on industrial properties connected to intermodal or port facilities, and that has led it sell off some buildings that don’t meet that criteria. The Oak Brook, IL-based firm, one of the most significant players in the national market, just sold a 21-building portfolio in the Chicago area, for example, and company officials tell GlobeSt.com that there could still be other similar sales.

The portfolio consists of buildings without intermodal capabilities, and totaling about 2.4 million square feet on 110 acres of land. Robin Stolberg and Kurt Sarbaugh of HFF represented CenterPoint in the transaction. The company did not disclose the property addresses or prices paid. CenterPoint sold off a Milwaukee-area portfolio in 2015.

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