Centerpoint (NYSE:CNT)
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CenterPoint Properties Trust (NYSE:CNT) today announced
that its Board of Trustees has terminated the employment of Paul T.
Ahern, Executive Vice President and Chief Operating Officer. The
Company previously announced Mr. Ahern was on administrative leave as
of April 15, 2005. The Company also today announced the following
promotions:
Sean P. Maher to Executive Vice President, Portfolio Operations
Mr. Maher will supervise the Company's six regional property
managers and direct all portfolio activity including leasing and
capital improvements. Mr. Maher has served as a Senior Vice President
and a member of the Company's Investment Committee since 2000,
responsible for numerous investments and developments. Mr. Maher
joined the Company in 1997 as Vice President of Investments and has
been active in Chicago industrial real estate for 19 years. Prior to
joining the Company, Mr. Maher was a real estate broker at CB Richard
Ellis and Trammell Crow.
Neil P. Doyle to Senior Vice President, Development
Mr. Doyle will be responsible for sourcing, marketing, leasing and
constructing industrial facilities and land developments in the South
Region of Chicago. Major redevelopments in this region include the
2,200-acre CenterPoint Intermodal Center in Elwood, IL, the 260-acre
CenterPoint Business Center I-80 in Joliet, IL and the 240-acre McCook
Business Center in McCook IL. Mr. Doyle joined CenterPoint in 1997 and
was promoted to Vice President, Development in 1998. Prior to joining
the Company, Mr. Doyle was employed in project management at Walsh
Construction Company.
Michael Mullen, Chief Executive Officer, stated, "Sean Maher and
Neil Doyle are CenterPoint veterans and valuable team players. Sean
has been covering the role of Chief Operating Officer for the past
three months and is off to a great start in his new position. We
expect a smooth transition of Sean into his new full time role. Neil
was partnered with Sean in executing our successful South Region
developments so we are confident in his continuing contributions and
leadership."
"We continue to develop and deepen our bench of talented
colleagues critical to our success. Our franchise is healthy as we
remain focused on solving problems for our customers in the greater
Chicago market, an expanding 'global hub' that affords us continuous
new opportunity."
About CenterPoint Properties Trust
CenterPoint is a publicly traded real estate investment trust
(REIT) and the largest industrial property company in the
1.4-billion-square-foot Chicago regional market. As of March 31, 2005,
the Company owned and operated approximately 40.1 million square feet
and the Company and its affiliates owned or controlled an additional
3,329 acres of land upon which approximately 52 million square feet
could be developed. The Company is focused on providing unsurpassed
tenant satisfaction and adding value to its shareholders through
customer driven management, investment, development and redevelopment
of warehouse, distribution, light manufacturing buildings and
logistics infrastructure. The first major REIT to focus on the
industrial property sector, CenterPoint had a total market
capitalization of approximately $3.0 billion as of March 31, 2005.
Statements in this release, which are not historical, may be
deemed forward-looking statements under federal securities laws. There
can be no assurance that future results will be achieved and actual
results could differ materially from forecasts and estimates. Factors
that could cause actual results to differ materially are general
business and economic conditions, completion of pending acquisitions,
competitive market conditions, weather, pricing of debt and equity
capital markets and other risks inherent in the real estate business.
Such factors and others are listed in the Company's Form 10-K and
10-Qs.