CenterpointProperties Wants to Run Virginia Ports

Monday's Financial Times highlighted how one company, CenterPoint Properties is interested in infrastructure investment -- notably ports. At one time, private infrastructure operators tended to be from Europe, such as Spain's Grupo Ferrovial. Perhaps this could be a new area of growth for American companies.

An article entitled, Developer proposes to take over Virginia port operations explains the potential deal:

A property developer has asked the US state of Virginia to let it take over its ports in a sign of continuing private interest in publicly owned infrastructure.

Chicago-based CenterPoint Properties announced the proposal on Friday under state laws that let private companies make unsolicited approaches for state-owned assets. CenterPoint said it would provide $8.9bn total value to the state over a 60-year concession.

....There had long been speculation that Virginia might seek a private investor in the ports’ operating arm to fund other transport investments.

Cash-strapped states have grown increasingly interested in attracting private infrastructure investment to offset budget pressure from growing health and education spending.

One quibble with the story. As someone who did graduate work in geography (on waterways infrastructure) Center Point Properties is not based in Chicago. It's offices are in Oak Brook, a western suburb of Chicago, better known as the home of McDonalds.

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