"Institutional capital remains extremely inexpensive," sayschief financial officer Paul Fisher. "Both of these ventures accesscapital at favorable terms."

UBS Real Estate is contributing $60 million to the CIC-Rochelleproject, which ultimately is expected to include five million sf ofindustrial space. RC2 Corp. was the first customer, taking a400,000-sf build-to-suit this month. "We expect UBS to become animportant new relationship with whom we will routinely transactacquisitions, dispositions and potentially venture otherrail-related real estate," Fisher says.

CenterPoint WisPark Land Co. LLC will own the GrandView BusinessPark in Yorkville, WI and CenterPoint Business Center–Gurnee inaddition to the Pleasant Prairie industrial park. WisPark LLC ownedLakeView Corporate Park and GrandView Business Park, whileCenterPoint Business Center–Gurnee was developed by the REIT. "Webelieve combining our franchises will best exploit increasingactivity in the growing northern I-94 corridor," explainsCenterPoint senior vice president of development MichaelMurphy.