Joliet Industrial Park
Joliet, IL | 200 Acres | Investment, Development
A 200-acre vacant land parcel was under contract by a developer for "big box" distribution warehouses. The developer, allaying part of the risk, sought an equity partner to leverage an existing relationship with an institutional partner.
The property was acquired in late 2007. A portion of the site was sold for development of a 800,000 SF big box industrial building with expansion potential. Part of the sale includes the construction of Millsdale Road, which provides access to the remaining land and thereby adds value.