CenterPoint Properties Announces Two New Projects for Ace Hardware and NEXCOM at CenterPoint Intermodal Center - Suffolk

OAK BROOK, Ill., Oct. 3, 2011 /PRNewswire/ -- CenterPoint Properties announced today that they will be breaking ground on two new projects at their intermodal center in Suffolk, VA. The developments include a new 336,000 square foot Import Re-Distribution Center (RDC) for Ace Hardware and a 350,000 square foot Distribution Center for NEXCOM, Navy Exchange Service Command.  Both projects are the first in the 937 acre intermodal center.

Bob Harbour, Senior Vice President of Development for CenterPoint Properties, stated, "Both Ace Hardware and NEXCOM represent our core business plan: developing intermodal parks and facilities for users that need a prime location in a well-planned business park. In addition to good access to interstate highways, CenterPoint Intermodal Center Suffolk (CIC Suffolk) gives tenants the opportunity to take advantage of truck and rail transportation while offering direct access to the Ports of Virginia.  Additionally, CIC Suffolk has a ready and available labor market and a business friendly atmosphere typical of Hampton Roads."

NEXCOM performed an expansive search for a new northeast distribution center, and the CenterPoint Intermodal Center in Suffolk provided the most efficient and effective solution for their logistic needs," stated Mayor Linda Johnson. "Suffolk's strategic location will provide NEXCOM with excellent access to their stores and their customers; and we are especially proud that the City of Suffolk will play a role in supporting our nation's Navy families."

Lang Williams, First Vice President of CBRE, added, "On behalf of Ace Hardware, CBRE evaluated numerous potential sites in multiple port markets for Ace's Import Re-Distribution Center. CenterPoint Intermodal Center Suffolk clearly is the best choice for Ace given the park's close proximity to the world class Port of Virginia terminals, competitive terms offered by CenterPoint, and CenterPoint's proven track record in developing similar facilities for retailers nationwide. The cooperation and support of The City of Suffolk and The Commonwealth of Virginia officials also helped make this new facility possible."

"This new facility will consolidate our two current distribution facilities being operated to support our northeast distribution and freight consolidation operations.  We are looking forward to having our team in one location and the synergies that will allow," stated Tom Williams, NEXCOM Senior Vice President of Distribution.  

"A new distribution warehouse at CenterPoint Intermodal Center Suffolk further cements CIC Suffolk as the new premier industrial park in Hampton Roads. Infrastructure improvements within the park associated with the NEXCOM building will open up several sites for other industrial users with CSX rail access available and available sites suitable for numerous building sizes, from 100,000 to over 1 million square feet," said Lang Williams.

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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