OAK BROOK, Ill., Nov. 16, 2011 /PRNewswire/ -- CenterPoint Properties is pleased to announce that Lawson Products (NASDAQ: LAWS) will lease a modern build-to-suit packaging and distribution center in McCook, Illinois. CenterPoint will immediately break ground on the 306,805 square foot facility at the CenterPoint Business Center – McCook. The company will lease the entire distribution facility with construction expected to be completed in August 2012. Colliers International represented Lawson on long term lease transaction.
"We were 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 Lawson Products CEO Tom Neri.
Lawson Products (Lawson) is a North American distributor of products and services to the industrial, commercial, institutional, and governmental maintenance, repair and operations (MRO) marketplace. With this move, Lawson will consolidate three of their current Chicago area distribution centers. After considering a variety of locations across the Chicago area, Lawson chose McCook, Illinois for its ability to allow the company to better manage its strategic and logistic objectives.
"We continue to see a strong demand for modern distribution parks that allow companies to take advantage of logistics and transportation savings. CenterPoint Business Center – McCook again demonstrates its strategic and location advantages for companies seeking modern warehouse and distribution facilities," said Edward Harrington, Senior Vice President for CenterPoint Properties Trust.CenterPoint Business Center – McCook is a 242 acre redevelopment that is CenterPoint's second industrial park in McCook, Illinois. The development, which broke ground in 2005, has proven to be remarkably successful attracting users seeking sizeable, modern, efficient sites to construct state-of-the-art facilities in a first class setting. Located at the intersection of 1st Avenue and the Stevenson Expressway (I-55), McCook Business Center is ideal for a wide variety of industrial users. To date over 2 million square feet has been developed in the park. In addition, the park provides proximity to a large skilled labor pool in the nearby communities, and benefits from a central location in the heart of Chicago's transportation infrastructure. About CenterPoint Properties CenterPoint Properties is focused on the development, ownership and intensive management of industrial real estate and related rail, road and port infrastructure. They add value to their customers through forward-thinking solutions aimed at enhancing supply chain and operating efficiencies. They seek long term relationships with customers, public and private business partners, internal colleagues and the communities where we invest and operate. The Company recently won NAIOP's Developer of the Year and also received IANA's Intermodal Achievement Award, which recognizes outstanding contributions towards the advancement of the intermodal freight transportation industry. For more information on CenterPoint Properties, visit www.centerpoint.com. SOURCE CenterPoint Properties
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV