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Developer of the Year Based in Chicago

July 24, 2011

A Chicago real estate developer has been chosen as this year’s best.

NAIOP, the Commercial Real Estate Development Association, has named CenterPoint Properties as the 2011 Developer of the Year.

Oakbrook-based CenterPoint is the largest owner and developer of industrial real estate in metro Chicago, acquiring, developing or selling close to $1 billion of industrial property each year.

Centerpoint_logo“CenterPoint’s position as an industry leader is evidenced by its ability to outperform in any real estate cycle,” said Thomas Bisacquino, NAIOP president and CEO. “CenterPoint CEO Michael Mullen’s skill for identifying and capitalizing on opportunities is remarkable, and it’s our honor to present him with this pinnacle award.”

CenterPoint is known for its development of intermodal centers, which are single-hub locations that receive, transfer, store and distribute domestic and international cargo through air, rail and highway.

It has developed leading intermodal facilities in Illinois, California, Missouri, Georgia, Texas and Virginia, and CenterPoint is the the only company in the nation to develop an intermodal logistics center in its entirety.

With its affiliates, the company owns and manages more than 34 million square feet for over 260 customers.

CenterPoint is one of the nation’s most active industrial investors; it acquired more than $390 million of product last year alone. That included the transfer of 87 North American Terminal properties throughout 38 states in 45 days.

The Developer of the Year award has been presented since 1979 to a member-developer company that best exemplifies leadership and innovation.

NAIOP will present the award to CenterPoint at Development 11: The Annual Meeting for Commercial Real Estate in Scottsdale, Arizona in October.

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