CenterPoint Properties Signs New Customer to Long-Term Lease in Pleasant Prairie, WI

C&H Service to take 316,801 SF at recently completed LakeView XII facility

Jan 18, 2010, 11:58 ET from CenterPoint Properties

OAK BROOK, Ill., Jan. 18 /PRNewswire/ -- CenterPoint Properties announced today that C&H Service, LLC has signed a long-term lease for 316,801 square feet of the 450,971 square foot recently completed facility in LakeView Corporate Park in Pleasant Prairie, Wisconsin.  The building was developed in a venture which includes CenterPoint Properties Trust and WisPark Corporation.

C&H, based in Milwaukee, Wisconsin, is a leading distributor of industrial equipment in North America and a subsidiary of TAKKT. TAKKT is the leading B2B mail order specialist for business equipment in Europe and North America. The Group is represented with its brands in more than 25 countries. The product range of the TAKKT subsidiaries comprises over 160,000 items from the areas business and warehouse equipment, classical and design-oriented office furniture and accessories, as well as sales promotion items for retailers, the food service industry and the hotel market. TAKKT, headquartered in Germany, is traded on the Frankfurt Stock Exchange.

C&H Service was represented by CBRE's Milwaukee Industrial Team of Trent Poole, Roger Siegel & Scott Furmanski in partnership with Bayne Porter from CBRE's Atlanta office. Whit Heitman and Sam Badger with Paine/Wetzel represented CenterPoint Properties.  

"CenterPoint was able to seamlessly bring this deal together with a coordinated effort by their development, construction and leasing teams," said Trent Poole.

"This represents over 1.4 million square feet of leased up space in Pleasant Prairie, WI in the last two years.  We continue to see strong demand in the I-94 Corridor in both Illinois and Wisconsin, for both the leasing of existing space and new development," said Michael Murphy of CenterPoint Properties.

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