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"CenterPoint’s developments achieve LEED certification, which aligns with our commitment to developing sustainable facilities nationwide that minimally impact the environment while optimally impacting communities through economic growth, job creation, and increased tax revenues."
- Carmine Bottigliero, VP of Development, Central Region
RE Journals‘ Chicagoland Industrial Properties featured our VP of Development in the Central Region, Carmine Bottigliero, along with Morgan Baer Blaska, VP of Development and Investment at Trammell Crow Company, Ryan Cotter, Preconstruction Executive at Skender, and Mike Yungerman, The Opus Group’s EVP and GM.
Read what Carmine had to say in “Infill Opportunities and Sustainable Design: Chicago’s 2024 Year in Review.”
What types of projects drove the most activity in Chicago’s development market in 2024, and how have shifting economic conditions influenced the types of properties being prioritized?
Bottigliero: Leasing activity has been the strongest in the infill and bulk distribution submarkets, which have traditionally performed the strongest in Chicagoland. This is logical, given the economic headwinds we’ve experienced in the past two years. O’Hare, I-55, and I-80 have been resilient through this slowdown and continue seeing tenant demand for bulk and shallow bay infill products. We foresee those core markets as the ideal locations to develop in, especially until economic conditions offer more certainty to users and investors.
How has CenterPoint adapted to regulatory or zoning changes in Illinois this year, and what impact have these shifts had on timelines, budgets or project feasibility?
Bottigliero: Industrial real estate in the infill market we target nationwide, especially in Chicagoland, has become increasingly challenging to zone and permit. Communities are pushing back against additional truck traffic, especially in areas with abundant industrial developments. We’re sensitive to community concerns and work closely with municipalities to balance serving the users that benefit communities, employees, and consumers the most while reducing their impact on them and the environment.
CenterPoint has secured large tranches of land and aggregated them to contain truck traffic better and limit it to our industrial park in Joliet/Elwood, dramatically reducing truck traffic near residents. We’ve made significant infrastructure improvements, including constructing the Houbolt Road Extension from I-80 into our Intermodal Center, positively reducing area truck traffic.
We’ve found that it’s taking longer to get projects entitled, and many municipalities require infrastructure improvements as a condition of entitlement, contributing to a higher development cost in this market.
As sustainability remains a key focus, how has CenterPoint incorporated eco-friendly designs or innovative construction methods into projects, and what benefits have these brought to both the market and the community?
Bottigliero: CenterPoint’s developments achieve LEED certification, which aligns with our commitment to developing sustainable facilities nationwide that minimally impact the environment while optimally impacting communities through economic growth, job creation, and increased tax revenues.
Employee amenities include:
Sustainability features we integrate into our project include:
Are there any projects you worked on in 2024 that you’d like us to highlight?
Bottigliero: 2903 Brandon Road in Joliet, IL, is unquestionably our flagship development in the CenterPoint Intermodal Center. The 976,954-square-foot Class A sits at the base of the bridge at the southern edge of the Houbolt Road Extension, putting it just minutes from both I-80 and the Union Pacific intermodal facility.
The LEED-certified project offers every operational and location advantage a distribution user could ask for. We also overcame significant engineering challenges to take advantage of its unique setting on a bluff overlooking the Des Plaines River. We designed it with plenty of ground-level glass to give workers considerable sightlines to the woods along the 71-acre property and gorgeous views of the water running along the north. We believe this is a warm and inviting building where employees will enjoy working.
For CenterPoint Investment, Development, and Asset Management inquiries in the Central Region, please contact:
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