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Rail News Home Rail Industry Trends

7/28/2009



Rail News: Rail Industry Trends

CenterPoint Properties to advance UP intermodal terminal in Illinois


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Last week, CenterPoint Properties announced it signed agreements with federal and local constituents that will enable the developer to move forward with a planned Union Pacific Railroad intermodal facility in Joliet, Ill.

The company is developing CenterPoint Intermodal Center-Joliet, a 3,900-acre integrated logistics center that includes the $400 million intermodal terminal. The $2 billion center also calls for more than $200 million worth of infrastructure improvements, including roads, bridges and utilities. Work on the 1,000-acre UP intermodal facility is expected to start soon and conclude sometime next year.

The center is projected to generate about 15,000 new jobs and millions of dollars in new tax revenue during the next 10 to 15 years, CenterPoint Properties officials said in a prepared statement.

The center will be located about two miles from CenterPoint intermodal Center in Elwood, Ill., which includes a BNSF Railway Co. intermodal terminal.

CenterPoint Properties also plans to develop a 1,000-acre intermodal and industrial park in Crete, Ill., along a UP/CSX Transportation mainline. The company has yet to secure a Class I contract for the park’s 300-acre intermodal facility.


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