Air Cargo Quarterly
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CenterPoint breaks ground in Elk Grove Village, IL
CenterPoint Properties broke ground on an 87,975 square foot build-to-suit redevelopment located in Elk Grove Village, Illinois. Weiss-R’hlig will lease 57% of the facility with the remaining 43% to be completed on a speculative basis. Colliers International represented CenterPoint and CBRE represented Weiss-R’hlig on the long term lease transaction. CenterPoint, in a venture with an institutional advisor, expects construction to be completed in the fall of 2013.
‘We are pleased to partner with a leading national industrial real estate development firm. CenterPoint understood our business needs and is building a state-of-the-art facility that will be foundational for our long-term, sustained growth’ said Thomas Gilgen, Chief Executive Officer for Weiss-R’hlig USA.
Weiss-R’hlig is an international logistics company in Air Freight and Sea Freight transport. A Joint Venture between R’hlig Holding-Germany and Gebr’der Weiss-Austria, the U.S. entity was formed in 2003 and has 200 staff.’ Globally, the company has 7,000 staff in more than 40 countries.’ With this move, Weiss-R’hlig will relocate its North American headquarters to Elk Grove Village, adjacent to competing freight forwarding companies, where it will benefit from close proximity to O’Hare International Airport.
‘We continue to see a strong demand for well-located modern industrial buildings that allow companies to take advantage of logistics and transportation savings. We are confident that this redevelopment demonstrates the need for modern in-fill facilities in locations like Elk Grove Village,’ said Ed Harrington, Senior Vice President of Development for CenterPoint Properties.
Situated on 4.4 acres of land at 1601 Estes Road, the facility will be a candidate for U.S. Green Building Council certification, featuring energy efficient HVAC systems, motion operated light fixtures, and construction waste recycling. Elk Grove Village, ideal for a wide variety of industrial users, has proven to be a strong O’Hare Submarket for CenterPoint where they currently own over 1.6 million square feet.’
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