Weather, Market Keeps Arsenal On Track

JOLIET, IL-The weather and slowdown in the building industry have paid dividends for CenterPoint Properties Trust, keeping its 1,312-acre CenterPoint Intermodal Center on the site of the former Joliet Arsenal on budget and on schedule. Although the development is expected to take a decade to complete, three tenants already have committed to taking more than 10% of the project’s ultimate space and CenterPoint reports an increase in prospect traffic.

“We’re making tremendous progress,” says Chief Operating Officer Mike Mullen. “Our unusually dry summer has offset the delays we experienced after this winter, when we got 30 inches of snow…We’re moving 11,000 cubic yards of soil a day. Knock on wood, if the weather holds up, we should have all significant excavation completed by the middle of August.”

Construction of rails and roadways will begin in the next two months, Mullen says. Meanwhile, a 1-million-sf building is expected to be ready for DSC Logistic next year.