CenterPoint Properties Trust hopes to complete the buildingduring the fourth quarter, but construction crews may be doing morework for RC2 Corp. next year or 2006. RC2 has bought a two-yearoption on 18 acres next to their first building and may use theland to build another 400,000-sf expansion.
Although terms were not disclosed, CenterPoint's developmentcosts have been averaging about $40 per sf so far this year, whichwould put RC2's building in the neighborhood of $16 million.
The 362-acre CenterPoint Intermodal Center – Rochelle is lessthan a mile from the 1,200-acre Union Pacific Global III intermodalfacility, expected to capitalize on its location near majorinterstates as well as distance from Chicago traffic congestion.CenterPoint can build up to 5.2 million sf of industrial space onits 362 acres.
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