CenterPoint Secures 1 MSF Tenant in Chicagoland
This facility is within North America’s largest inland port.
CenterPoint Properties has signed a full-building lease with 3PL firm RJW Logistics Group for a 976,954-square-foot industrial facility in Joliet, Ill. NAI Hiffman represented the owner.
The property is at 2903 Schweitzer Road inside the 6,400-acre CenterPoint’s Intermodal Center – Joliet/Elwood, North America’s largest inland port.
BNSF Railway and Union Pacific Railroads operate within the park, while U.S. Route 6 and Interstate 80 are about 3 miles from RJW’s newly leased facility. Downtown Chicago is some 50 miles northeast.
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The cross-dock building features 40-foot clear heights, 70-foot speed bays, four drive-in doors, 100 loading docks, as well as 220 trailer and 387 car parking spots, among others.
RJW’s newest distribution center is part of its rapid expansion. As of December, the firm had more than 7.3 million square feet of warehouse space across the Chicago and Dallas transportation hubs.
NAI Hiffman Executive Vice Presidents Dan Leahy and Adam Roth represented the owner. The team negotiates on behalf of CenterPoint all the leases inside the master-planned intermodal development.
Windy City’s industrial leasing activity slows down
Chicago industrial leases dropped 25.8 percent year-over-year to 26.8 million square feet in 2024, according to a fourth-quarter report by Cushman & Wakefield. Manufacturing, transportation and warehousing companies comprised the bulk of activity, accounting for 62.9 percent of the new deals signed last year.
Agreements past the 250,000-square-foot mark decreased to 16 in 2024, down from 26 in 2023, the report revealed. John B. Sanfilippo & Son Inc. signed one such lease last June, when the food industry company committed to 444,600 square feet at Venture One’s 729,823-square-foot facility in Huntley, Ill.
As fewer deals closed, the vacancy rate climbed 20 basis points over the year, reaching 4.7 percent in December, the same source shows. Despite increasing, the index remained on par with the 10-year average of 4.7 percent.
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