OAK BROOK, IL—Paul Fisher, president and CEO of locally based CenterPoint Properties Trust, has announced he will retire from the firm as soon as a successor is found, to pursue “other interests,” though he will join the Board of Trustees as vice chairman.

In 1993, Fisher was one of the founders of the company, which is focused on the development, acquisition and management of industrial property and transportation infrastructure. He was named president in 2004 and appointed as CEO in 2011. The company’s portfolio includes 43 million sq. ft. and 6,300 acres under development in the company's integrated intermodal industrial parks.

CenterPoint’s Board of Trustees has initiated a search for Fisher’s successor. Following his retirement, Fisher will assume the role of vice chairman of the board.

Fisher said in a statement Wednesday that before the company was privatized in 2006, the focus was exclusively on Chicago property, but now the firm has a wide national reach. “Our logistics strategy is well established, and the company is on an excellent trajectory with a terrific team in place,” he said. “After more than 20 years of helping build a great firm, it's a good time for me to step away from day-to-day duties. I'm pleased that the Board has asked me to continue my service as Vice Chair, while I also pursue my many other interests."