News
Home Depot Expands
July 3, 2012
| Is our industrial market is stabilizing? CenterPoint is building a second facility for Home Depot in its CenterPoint Intermodal Center-Joliet. (Though if they're building the Home Depot, where are they getting the supplies?) | ||
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| CenterPoint development execs Michael Murphy and Jeremy Grey (bathed in yellow) tell us the 1.6M SF warehouse distribution center is slated for completion next June. The Class-A, high bay, 36-foot clear building will be the retailer’s main Mid-West distribution center. Added to the 657k SF Rapid Deployment Center that Home Depot already leases there, it will have a 2.2M SF presence at the park. It’s in good company. Walmart has its largest US campus there; 3.4M SF in the park that spans the municipalities of Joliet and Elwood. Bissell has a 500k SF distribution center there. | ||
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| The draw for Home Depot, Michael says, is a state-of-the-art campus (which we snapped while on a casual parachuting trip) that will give the company greater efficiency and bring it close to the Union Pacific and Burlington Northern intermodals where Home Depot goods land from the West Coast. CenterPoint started to develop what it calls “North America’s largest inland port” in Elwood in ’99 and in Joliet in ’08. The first tenants occupied space in ’01. The park, a total of 6,500 acres, already has 10M SF under roof. CenterPoint can build another 24M SF on 3,000 acres. For Home Depot’s recent lease, Colliers’ Steve Kohn and the late Jeff Kahan repped the retailer. NAI Hiffman Industrial’s Dan Leahy, Adam Roth, and Casey Baird repped the landlord. | ||
