CenterPoint Properties Announces Grand Opening Of Ace Hardware At CenterPoint Intermodal Center - Suffolk

OAK BROOK, Ill., July 26, 2012 /PRNewswire/ -- CenterPoint Properties announced today the grand opening of Ace Hardware's Suffolk Import Re-Distribution Center (RDC) located in CenterPoint Intermodal Center-Suffolk (CIC-Suffolk). The 336,000 square foot development is the first completed project in the 937 acre intermodal center.

"CenterPoint Properties is pleased to officially welcome Ace Hardware Corporation to our CenterPoint Intermodal Center-Suffolk," said Bob Harbour, Senior Vice President of Development for CenterPoint Properties. "Less than one year ago, we broke ground on this facility, and today we celebrate its grand opening. CIC-Suffolk's well-planned business park and prime location provide great business opportunities for companies like Ace. The location of the RDC is important not only for CenterPoint, but also the Hampton Roads community."

CBRE, a real estate services company, worked on behalf of Ace Hardware to select the site within CIC-Suffolk. The park's transportation benefits and close proximity to the Port of Virginia played key roles in drawing Ace Hardware to CenterPoint's facility.

"We looked at various sites in and around the Suffolk area and were immediately impressed with Centerpoint's Intermodal Center," said Jim Falk, Director of Loss Prevention and Property Administration, Ace Hardware Corp. "The site is well thought out and a considerable amount of preparation was done in advance, significantly shortening our build to suit lead time. Additionally, local CenterPoint management had established connections with local municipalities and were quick to provide needed data we could plug into our operational model so we could arrive at a well informed decision. CenterPoint was easy to work with and very accommodating throughout the construction process."

Today's grand opening featured an official ribbon cutting as well as remarks from Ace Hardware Chief Operating Officer John Venhuizen, Commonwealth of Virginia, Secretary of Commerce and Trade Jim Cheng, Ace Hardware Board of Directors Member James Hatcher and The Honorable Linda T. Johnson – Mayor, City of Suffolk.  

About CenterPoint Intermodal Center – Suffolk
Centrally located at the Mid-Atlantic Port of Virginia, this attractive multiple warehouse opportunity offers up to a total of 5.8 million sq. ft. of Class A distribution/warehouse space. CenterPoint Intermodal Center -Suffolk is located next to the 1.8 million sq. ft. Target Distribution Center. This project offers a master planned, multi-building development with state of the art industrial buildings ranging from 100,000 to 1.4 million sq. ft. with build to suit opportunities for lease and purchase.

About CenterPoint Properties
CenterPoint Properties is focused on the development, ownership and intensive management of industrial real estate and related rail, road and port infrastructure. They add value to their customers through forward-thinking solutions aimed at enhancing supply chain and operating efficiencies.  They seek long term relationships with customers, public and private business partners, internal colleagues and the communities where we invest and operate.  The Company recently 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. For more information on CenterPoint Properties, visit www.centerpoint.com.

SOURCE CenterPoint Properties

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