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September 6, 2005

By Michelle Napoli

Industrial REIT CenterPoint Properties Trust has been tapped to build a mega-storage and distribution facility for the country's largest retailer in its CenterPoint Intermodal Center here. The Oak Brook, IL-based REIT's agreement with Wal-Mart Stores East LP includes a 15-year net lease plus 10 five-year renewals, with the lease being guaranteed by parent company Wal-Mart Stores Inc. Encompassing two buildings totaling nearly 3.4 million sf on 168.22 acres, the project's construction has begun and completion is anticipated for the second half of 2006.

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