CenterPoint Properties Signs a Build-to-Suit for Lease With Stepan Company

OAK BROOK, Ill., March 29 /PRNewswire/ -- CenterPoint Properties announced today that Stepan Company has signed a build-to-suit lease for a 217,712 square foot building on a 16.48-acre site in Joliet, IL.  The building will be developed by CenterPoint Properties.

Stepan Company is a leading producer of specialty and intermediate chemicals used in household, industrial, personal care, agricultural, food and insulation related products.  Headquartered in Northfield, Illinois, Stepan currently has over 1500 employees globally and utilizes a network of modern production facilities located in North and South America, Europe, China and the Philippines.  Stepan is a publicly traded company with common and convertible preferred stocks traded on the New York and Chicago Stock Exchanges under the symbols SCL and SCLPR.  For more information, visit Stepan's website at http://www.stepan.com.

"We are pleased that the Stepan Company chose to locate within CIC-Joliet and work with CenterPoint Properties.  The transportation savings and flexibility realized through the intermodal location will benefit Stepan and their global supply chain now and in the future," said Michael Murphy, CenterPoint Properties.

"The transportation advantages of the development and the flexibility of CenterPoint on the structuring of the transaction made this work for both parties," said Dan Leahy, NAI Hiffman.

About CenterPoint Properties Trust

CenterPoint is the largest owner, manager and developer of industrial real estate in metropolitan Chicago with 26 branded business parks. With our affiliates, we own and manage more than 27.8 million square feet of customers and have an additional 9,700 acres of land for future development. With a strong franchise in this market, we remain the go to firm for brokers and customers. While we remain very committed to Chicago, our expertise in intermodal and transportation-related development is leading us to other U.S. markets for similar development opportunities.

SOURCE CenterPoint Properties