Inbound Logistics featured CenterPoint Properties and Senior Vice President of Investments Rives Nolen in an article spotlighting leading companies in intermodal real estate investment and development.
Read what Rives said about CenterPoint’s commitment to serving companies with state-of-the-art facilities near America’s leading intermodal hubs and its expansion plans in Houston and other top Texas industrial markets in “Intermodal Meets the Moment.”
CenterPoint Properties, a Chicago-based industrial investment, development, and management firm, has large investments in properties in the country’s intermodal hotbeds—spanning from Southern California, the Bay Area, and Seattle to Chicago, Texas, Northern New Jersey/New York, Charleston, Savannah, and Miami—and the expertise to meet the preferences and needs of its tenants, no matter how complex or unique.
“We do a lot of development in markets with rail-served and intermodal assets,” says Rives Nolen, senior vice president, investments, for CenterPoint. “It’s an important piece of our strategy as we continue to grow our company.”
Among the areas where CenterPoint has made heavy investments is Houston, the leading market for direct access to the South and Southwest regions of the United States and one of the top markets for imports and exports to Central and South America.
CenterPoint’s interest in the market is based on two factors that are pillars of its investment and development strategy: The company endeavors to own and build assets in top infill markets that have strategic access to ports and large population centers. Houston is the nation’s fifth-largest metro area, and its port is No. 1 in total foreign and domestic waterborne tonnage and the sixth-ranked container port by TEUs.
CenterPoint owns four available properties that comprise the 1.2-million-square-foot Baytown Intermodal Center near Houston. The intermodal center can accommodate up to 350 railcars, has rail service by two Class I railroads, and has proximity to the Port of Houston’s Bayport and Barbours Cut terminals. The property is a potential build-to-suit opportunity in a redevelopment scenario.
“The unusual amount of railcar capacity is a real key to that site’s value,” Nolen says. “And there are a lot of different things we can do with it.”
Equipped for Intermodal
CenterPoint’s intermodal-equipped sites in the region also include a 600,000-plus-square-foot building in Pasadena, Texas, 20 miles from downtown Houston. The Class A building offers a rare combination of rail service by Union Pacific, BNSF, and Kansas City Southern via the Port Terminal Railroad Association, abundant railcar capacity, and strategic port and highway access.
CenterPoint is intent on expanding its existing Houston portfolio of approximately 6.5 million square feet, Nolen says. The company is attracted to the city in part for its robust port infrastructure and sustainable growth.
“As we look at expanding our central region markets, we’re focused on investments in markets that are experiencing economic and population growth that we believe will drive more demand for industrial real estate in the current environment,” Nolen says.
Another Texas market that CenterPoint has targeted for intermodal-related expansion is the Dallas-Fort Worth area. In particular, the company is looking to invest in properties close to the Dallas-Fort Worth Airport and the AllianceTexas development, which includes the Fort Worth Alliance Airport and two Class I rail lines.
“It’s an example of a market that’s experiencing a lot of growth and successful development projects,” Nolen says. “There are some great possibilities for us in that area.”
Nolen says CenterPoint’s proven background in intermodal means it is prepared to solve any challenge a client has.
“If the customer needs a specialized facility that involves some type of intermodal capability, we have experience owning, operating, and developing those types of projects,” Nolen says. “We believe if we can help customers solve those kinds of issues, we can create long-term relationships and long-term results.”
Read the full article.