CenterPoint Properties is a company that invests primarily in
real estate used for
intermodal freight transport
Intermodal freight transport involves the transportation of freight in an intermodal container or vehicle, using multiple modes of transportation (e.g., rail, ship, aircraft, and truck), without any handling of the freight itself when changing ...
. The company owns more than 300 buildings containing more than 60 million square feet, including the
CenterPoint Intermodal Center. The company is solely owned by
CalPERS
The California Public Employees' Retirement System (CalPERS) is an agency in the California executive branch that "manages pension and health benefits for more than 1.5 million California public employees, retirees, and their families".CalPERSFa ...
, which has engaged with
GI Partners
GI Partners is a middle market private equity firm based in San Francisco, California.
Description
Founded in 2001, GI Partners is a private investment firm with over 100 employees with offices in San Francisco, New York, Chicago, Greenwich, C ...
for management services of CenterPoint since 2010.
Timeline
In 1984, the company was launched as Capital and Regional Properties Corporation, the U.S. subsidiary of Capital and Regional plc.
In 1993, the company acquired FCLS Investors Group and became a
public company
A public company is a company whose ownership is organized via shares of share capital, stock which are intended to be freely traded on a stock exchange or in over-the-counter (finance), over-the-counter markets. A public (publicly traded) co ...
via an
initial public offering
An initial public offering (IPO) or stock launch is a public offering in which shares of a company are sold to institutional investors and usually also to retail (individual) investors. An IPO is typically underwritten by one or more investm ...
.
[
In March 2001, the company began development of the $58 million, 436,000 square foot Chicago International Produce Market.
In July 2001, the company invested $56 million in 9 suburban buildings and sold an apartment complex, 4 industrial buildings and a 42-acre land parcel in ]Aurora, Illinois
Aurora is a city in northeastern Illinois, United States. It is located along the Fox River (Illinois River tributary), Fox River west of Chicago. It is the List of municipalities in Illinois, second-most populous city in Illinois, with a popul ...
for $48 million.
In October 2001, the company began development of O'Hare Express North.
In 2001, Michael M. Mullen became president and chief operating officer
A chief operating officer (COO), also called chief operations officer, is an executive in charge of the daily operations of an organization (i.e. personnel, resources, and logistics). COOs are usually second-in-command immediately after the C ...
of the company. In 2004, he was promoted to chief executive officer
A chief executive officer (CEO), also known as a chief executive or managing director, is the top-ranking corporate officer charged with the management of an organization, usually a company or a nonprofit organization.
CEOs find roles in variou ...
.
In 2002, the company broke ground on an automotive supplier manufacturing campus in partnership with Ford Motor Company
Ford Motor Company (commonly known as Ford) is an American multinational corporation, multinational automobile manufacturer headquartered in Dearborn, Michigan, United States. It was founded by Henry Ford and incorporated on June 16, 1903. T ...
.
In 2006, the co-chairman of the company, John Gates Jr., came under scrutiny for his part ownership in 2 corporate jets with one of the company's top vendors.LaSalle Investment Management
LaSalle Investment Management ("LaSalle") is a real estate investment management firm. It is an independent subsidiary of JLL.
History
Jones Lang LaSalle was formed by the merger of Jones Lang Wootton and LaSalle Partners in 1999. The res ...
.
In 2008, the company began construction
Construction are processes involved in delivering buildings, infrastructure, industrial facilities, and associated activities through to the end of their life. It typically starts with planning, financing, and design that continues until the a ...
of the CenterPoint Intermodal Center, a 3,600 acre facility that cost $1.26 billion and opened in 2010. The company also began construction of the CenterPoint-KCS Intermodal Center in partnership with Kansas City Southern Railroad
The Kansas City Southern Railway Company is an American Class I railroad. Founded in 1887, it operated in 10 Midwestern United States, Midwestern and Southeastern United States, Southeastern U.S. states: Illinois, Missouri, Kansas, Oklahoma, Ark ...
at the former Richards-Gebaur Air Force Base.
In 2010, the company partnered with Zimmer Real Estate Services to begin redevelopment the Kansas City Plant pursuant to a lease with the General Services Administration
The General Services Administration (GSA) is an Independent agencies of the United States government, independent agency of the United States government established in 1949 to help manage and support the basic functioning of federal agencies. G ...
on behalf of the National Nuclear Security Administration
The National Nuclear Security Administration (NNSA) is a United States federal agency responsible for safeguarding national security through the military application of nuclear science. NNSA maintains and enhances the safety, security, and ef ...
. In 2014, the company began an environmental review of the site.
In 2011, Mullen retired as chief executive officer and was replaced by Paul Fisher, president of the company.
In May 2015, the company broke ground on a 450,660-square-foot speculative building at the CenterPoint-KCS Intermodal Center.
In September 2015, Caterpillar Inc.
Caterpillar Inc., also known as Cat, is an American construction, mining and other engineering equipment manufacturer. The company is the world's largest manufacturer of construction equipment.
In 2018, Caterpillar was ranked number 73 on the ' ...
announced that it may end production at its hydraulics
Hydraulics () is a technology and applied science using engineering, chemistry, and other sciences involving the mechanical properties and use of liquids. At a very basic level, hydraulics is the liquid counterpart of pneumatics, which concer ...
plant in Joliet, Illinois
Joliet ( ) is a city in Will County, Illinois, Will and Kendall County, Illinois, Kendall counties in the U.S. state of Illinois, located southwest of Chicago. It is the county seat of Will County, Illinois, Will County. It had a population of ...
that is leased from the company until 2018.
See also
* ABKO Properties
References
{{reflist
External links
Official WebsiteProperty AppraisalsReal Estate Resources
Oak Brook, Illinois
Companies established in 1984
1984 establishments in Illinois
Real estate companies of the United States
Companies based in DuPage County, Illinois
Industrial parks in the United States
1984 establishments in the United States
Real estate companies established in 1984