Inbound Logistics Spotlights SVP of Investments PJ Charlton, CenterPoint’s Approach to Site Selection
Posted By Staff Writers On September 9, 2021 @ 10:34 am
Inbound Logistics featured CenterPoint Properties and Senior Vice President of Investments for the East Region PJ Charlton in an article about what companies and the logistics providers who serve them need to consider as they explore locating, relocating, or expanding their businesses.
Read what PJ said about CenterPoint’s meticulous approach to identifying acquisition targets in “Incentives Brighten Site Selection Decisions.”
Finding the right spot to locate a business is both an art and a science. Making the best decision involves not just a partnership between the company and the municipality, but also a partnership between the company and the site experts with whom the company works.
“Partner with someone who can find or create the right site, close to ports and population centers, and with highway access,” advises P.J. Charlton, senior vice president of investments at CenterPoint Properties, which invests in industrial real estate in port and infill markets and works to help companies maximize their supply chain efficiency and realize cost savings. The firm is recognized as one of the top business park, logistics park, and industrial park developers and managers in the United States.
According to Charlton, CenterPoint takes a highly targeted approach, focusing on regions best situated for logistics advantage, including Los Angeles, Oakland, and the Bay area of California, as well as Chicago, New York/New Jersey, Seattle, Houston, Charleston, Savannah, and South Florida.
The company employs what it calls a “sharp-shooter strategy,” focusing on the best submarkets in some of the best markets in the country. Founded in Chicago in 1984, CenterPoint Properties acquires, develops, redevelops, manages, and leases state-of-the-art warehouse, distribution, and manufacturing facilities near major transportation nodes. The company’s experts focus on rail and port-proximate assets and infill properties with features or locations that give users competitive advantages.
On the East Coast, where Charlton oversees the firm’s regional investments, CenterPoint focuses its efforts on markets that have strong economies, robust port activity, and major population centers. “Our team finds logistically advantaged real estate opportunities, taking on complex deals to deliver solutions for our clients,” Charlton says.
CenterPoint takes a similar targeted approach on the West Coast, operating in the major port markets. In 2020, CenterPoint put the finishing touches on a state-of-the-art, 466,437-square-foot facility, CenterPoint Landing at Oakland Seaport. The company also completed the two-building Port Everglades International Logistics Center last year and has uber-modern facilities in development at Port Newark and the Port of Savannah.
Headquartered in Oak Brook, Illinois, CenterPoint has an especially strong presence in the Chicagoland area, a lifeline for global supply chains and a major player in high-value international trade.
Throughout its national portfolio, CenterPoint has a significant number of properties that are ideally suited to handle intermodal freight transport. CenterPoint owns 270 buildings containing 64 million square feet, including the CenterPoint Intermodal Center, a 6,400-acre master-planned intermodal development in the Joliet/Elwood area some 40 miles outside Chicago.
Among its properties, CenterPoint also has nearly 8 million square feet of space in and near New York City.
“Partner with someone who has good relationships with the local municipalities and who can help guide you through local codes and regulations,” Charlton recommends.
After all, achieving the peace of mind that comes from knowing the spot you’ve chosen will breed success is the best incentive of all to carefully do the homework and analysis required to find it.
About CenterPoint Properties:
CenterPoint is an industrial real estate company made up of dedicated thinkers, innovators, and leaders with the creativity and know-how to tackle the industry’s toughest challenges. And it’s those kinds of problems—the delicate, the complex, the seemingly-impossible—that we relish most. Because with an agile team, substantial access to capital, and industry-leading expertise, those are exactly the kinds of problems we’re built to solve. For more information on CenterPoint Properties, visit centerpoint.com, follow @centerpointprop on Twitter or engage with us on LinkedIn.