CenterPoint Sells 21-Building Midwest Portfolio
Posted By Staff Writers On October 3, 2017 @ 9:37 am
OAK BROOK, IL – CenterPoint Properties announces the disposition of a 21-building portfolio in the Greater Chicago market. The portfolio consists of approximately 2.4 Million SF and 110 acres of land. Robin Stolberg and Kurt Sarbaugh of HFF represented CenterPoint in the transaction.
“This disposition was an opportunity for CenterPoint to capitalize on our investment strategy,” said Jim Clewlow, Chief Investment Officer at CenterPoint. “The Company is focused on building a nationally diverse port and intermodal portfolio while maintaining a firm, multimodal presence in Chicago and its surrounding submarkets.”
CenterPoint’s overall company portfolio includes 59 Million SF and an occupancy level of 95.3%. With approximately 39% of the Company’s assets remaining in the Greater Chicago market, CenterPoint continues to have a stronghold in the region.
About CenterPoint Properties
CenterPoint Properties is focused on the development, acquisition and management of industrial property and transportation infrastructure that enhances business and government supply chain efficiency. The Company invests in major coastal and inland port logistics markets anchoring North America’s principal freight lanes. CenterPoint‘s portfolio includes 59 Million SF and 2,519 acres under development in the Company’s integrated intermodal industrial parks. For more information on CenterPoint Properties, visit centerpoint.com or follow @centerpointprop on Twitter.