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1808 Swift Drive | Oak Brook, Il. 60523 | 630-586-8000 | www.centerpoint-prop.com
For nearly three decades, CenterPoint Properties has served its customers' complex industrial property, logistics and infrastructure needs while remaining committed to creating sustainable jobs and communities. Although the company has evolved since its inception, CenterPoint's efforts to improve communities and create jobs originated right here in Elk Grove Village due to the entrepreneurial spirit of two real estate businessmen.

CenterPoint & Elk Grove Village

CenterPoint as its known today marks its official start in 1984. However, the company's true beginnings can be traced back even further to 1968 when a Dallas, Texas businessman by the name of Robert Stovall moved to Chicago to open an office for JL Williams & Co Inc., a Dallas-based property company.

At that same time, the development of O'Hare brought an increase in land value west of the airport, which included Elk Grove Village; it was here where Stovall set his sights. He began acquiring property east and west between Route 83 and Lively Boulevard and north and south between Fargo Avenue and Pratt Boulevard - using this land to develop several million square feet of industrial buildings. And much like present-day CenterPoint, Stovall understood the economic value to acquiring land with solid infrastructure and creating industrial parks backed-up to key railroad service. The property he purchased in Elk Grove would contain both of these features, providing customers greater distribution and location benefits.

In 1976, Mike Mullen, a Chicago native, joined Stovall at JL Williams and together the two continued to purchase properties within Elk Grove Village, bringing sustainable businesses to the community, which ultimately meant more jobs. Prior to the developments created by JL Williams and other property companies, Elk Grove Village did not have a strong residential presence. However, with more jobs available as a result of these new industrial buildings, more people moved to the area to take advantage of the opportunities.

Just two years after Mullen joined JL Williams, the company decided to close its Chicago office. Mullen and Stovall declined the company's request to relocate to Dallas and remained committed to Chicago and Elk Grove Village.

It was then that Stovall and Mullen decided to open their own real estate company called Four Columns Ltd. The firm began buying up buildings the two business partners had previously owned and built in Elk Grove, eventually acquiring modern-day CenterPoint's first property at 1850 Greenleaf Ave in Elk Grove Village.

In 1993, the company merged with Capital & Regional Properties of London, bringing with it Paul Fisher, CenterPoint's current CEO, and John Gates, the company's CEO from 1993 to 2004. The merged entities were rebranded as CenterPoint Properties - the name it proudly holds today. Later that year, the firm completed its U.S. initial public offering after consolidating its operations with, and acquiring the properties controlled by, FCLS Investors Group, a Chicago-based industrial development company with 30 years of local experience.

With Gates' retirement in 2004, Mullen was promoted to president & CEO and would lead the company through one of its most significant milestones. After 12 years as a public company, CenterPoint was acquired by CalEast Global Logistics in March 2006, a leading investor in logistics warehouse and related real estate whose members include the California Public Employees Retirement System (CalPERS) and GI Partners.

Mullen retired in 2011 just after the company won NAIOP's Developer of the Year and also received IANA's Intermodal Achievement Award, which recognizes outstanding contributions towards the advancement of the intermodal freight transportation industry. Later that year, Fisher was named CenterPoint's new president & CEO. Today, CenterPoint is the largest owner, manager and developer of industrial real estate in metropolitan Chicago with 21 branded business parks. With its affiliates, the company owns and manages more than 35 million square feet of customers and has an additional 6,000 acres of land for future development. With a strong franchise in this market and a respected history, CenterPoint remains the go to firm for brokers and customers.

Significant Accomplishments

In 1995, CenterPoint took on a project that would help define the company and lead it to future opportunities - the O'Hare Express Center. The company partnered closely with the Chicago Department of Aviation, Airport Owner's Representatives and the City of Chicago to complete the extensive and complex development - marking its first public-private partnership. It also was the first successful 'on-tarmac' development at O'Hare International Airport, and CenterPoint's first completed business park.

The company later embarked on one of the very first large-scale public-private partnerships in the nation and developed a $1.6 million supply campus adjacent to Ford's assembly plant in Chicago. The project created more than 1,600 jobs and millions of annual economic benefits to the region and Ford.

As a result of these two significant projects and countless others, CenterPoint took the knowledge it gained and applied it to create CenterPoint Intermodal Center - Elwood, IL (CIC-Elwood). CenterPoint invested billions of dollars in CIC-Elwood, which eventually expanded with a Union Pacific intermodal of the same size to create "The Nation's Largest Inland Port." This project marked a significant milestone for the company as it incorporated the transportation and logistics industry into its business model.

CenterPoint Today & Tomorrow

CenterPoint has become a national full service industrial real estate, logistics and infrastructure company working on all aspects of the warehouse, distribution and shipping industry. Much of its success is grounded in a willingness to tackle complex real estate projects, seeing customers' problems as opportunities in disguise. CenterPoint has worked hard to meet the manufacturing and distribution needs of respected companies like Ace Hardware, Walmart, The Home Depot and countless others through its intermodal centers.

While CenterPoint remains committed to Chicagoland, the company's expertise in intermodal and transportation-related development has lead it to other U.S. markets for similar development opportunities. The firm now has regional offices in Milwaukee, Los Angeles, Kansas City and Virginia where it hopes to bring the same dedication and community values it started with in the 1970s - right here in Elk Grove Village.

A Product of Matthew D. Walker Publishing, LLC © 2019