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 325 buildings containing 58 million square feet, including the

CenterPoint Intermodal Center CenterPoint Intermodal Center is an intermodal freight terminal located in Elwood, Illinois. It is considered the largest inland port in North America. The Intermodal Center includes a 785-acre Union Pacific Railroad complex just south of Joliet a ...

, the Chicago International Produce Market and the

Kansas City Plant The Kansas City National Security Campus (KCNSC), formerly known as the Kansas City Plant, is a National Nuclear Security Administration (NNSA) facility managed and operated by Honeywell Federal Manufacturing & Technologies that manufactures "8 ...

. The company is owned by a joint venture between

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 ...

and LaSalle Investment Management.

History

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 stock which are intended to be freely traded on a stock exchange or in over-the-counter markets. A public (publicly traded) company can be listed on a stock exchange ( ...

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 investme ...

. 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 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 or chief operations officer, also called a COO, is one of the highest-ranking executive positions in an organization, composing part of the " C-suite". The COO is usually the second-in-command at the firm, especially if ...

of the company. In 2004, he was promoted to

chief executive officer A chief executive officer (CEO), also known as a central executive officer (CEO), chief administrator officer (CAO) or just chief executive (CE), is one of a number of corporate executives charged with the management of an organization especial ...

. 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 automobile manufacturer headquartered in Dearborn, Michigan, United States. It was founded by Henry Ford and incorporated on June 16, 1903. The company sells automobi ...

. 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. In 2006, the company was acquired by a joint venture between

and LaSalle Investment Management. In 2008, the company began construction of the

, 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 operates in 10 midwestern and southeastern U.S. states: Illinois, Missouri, Kansas, Oklahoma, Arkansas, Tennessee, Alabama, Mississippi, Louisiana and ...

at the former Richards-Gebaur Air Force Base. In 2010, the company partnered with Zimmer Real Estate Services to begin redevelopment the

pursuant to a lease with the

General Services Administration The General Services Administration (GSA) is an independent agency of the United States government established in 1949 to help manage and support the basic functioning of federal agencies. GSA supplies products and communications for U.S. gover ...

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 physics, nuclear science. NNSA maintains and enhances the Stockpil ...

. 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. (stock symbol CAT) is an American ''Fortune'' 500 corporation and the world's largest construction-equipment manufacturer. In 2018, Caterpillar was ranked number 65 on the ''Fortune'' 500 list and number 238 on the Global ''Fo ...

announced that it may end production at its

hydraulics Hydraulics (from Greek: Υδραυλική) 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 counte ...

plant in

Joliet, Illinois Joliet ( ) is a city in Will and Kendall counties in the U.S. state of Illinois, southwest of Chicago. It is the county seat of Will County. At the 2020 census, the city was the third-largest in Illinois, with a population of 150,362. Hist ...

that is leased from the company until 2018.

References

{{reflist, 1 Real estate companies of the United States Oak Brook, Illinois Companies based in DuPage County, Illinois Industrial parks in the United States 1984 establishments in the United States 1984 establishments in Illinois Real estate companies established in 1984 Companies established in 1984