The repair and storage company is consolidating operations to the space at CenterPoint Intermodal Center, where it will sublease out to other container companies for storage and perform repair work, explains CenterPoint's Matt Tramel. While lease terms were not released, the company now expects $7.1 million a year in net operating income from the intermodal center with leases involving Container-Care, Burlington Northern & Santa Fe Railway Co. and Partners Warehouse.
Burlington Northern leased 621 acres in August 2000 to anchor the industrial park. Another 57 acres were sold in 2000. Last year, freight transportation provider Partners Warehouse agreed to lease a 300,000-sf in the industrial park's first build-to-suit, which is expected to be completed late this year.
"Not surprisingly, users are starting to view the park as a great way to consolidate multiple buildings into one larger facility, due to the industrial park's vast amount of inexpensive, flexible land," says CenterPoint senior vice president of investments Sean Maher.
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