Logistics Property Company, LLC (LPC), a logistics real estate platform focused on the acquisition, development and management of state-of-the-art logistics properties in key North American markets, today announces the acquisition of 106 acres of land 50 miles north of Chicago, Ill. in Kenosha, Wis. This is the third site that LPC has recently closed on in Kenosha. The project sits just west of I-94, one of the most trafficked thoroughfares in the region connecting Detroit, Chicago, Milwaukee, Madison, and Minneapolis.
The logistics and distribution development site is located northwest of 94 Logistics Park Phase I (announced on October 31, 2018) and across 128th Street from the under construction Uline distribution center. The site is also located between two full four-way interchanges on I-94. It is in close proximity to a 1 million square foot Amazon fulfillment and sortation center and just six miles south of the $10 billion Foxconn manufacturing facility.
Now that were in play in southeast Wisconsin, activity at 94 Logistics Park is fantastic, said Aaron Martell, LPCs Executive Vice President “ Midwest Region. Spec. inventory often leads to build-to-suits, so we wanted to be able to accommodate activity for users larger than 750,000 square feet.
The 106-acre parcel will support three buildings totaling 1.7 million square feet. The largest building will be able to accommodate users seeking 1 million square feet. LPC will have 225 acres under control in Kenosha consisting of over 3.5 million buildable square feet.
LPC anticipates closing on additional properties in the Midwest, Pennsylvania, Georgia, Texas and Washington as part of a development pipeline exceeding 20 million square feet. The company is targeting leading industrial markets across the U.S. with strong population demographics and significant in-place infrastructure.
About Logistics Property Co.
Logistics Property Company, LLC (LPC) is a logistics real estate platform focused on the acquisition, development and management of state-of-the-art logistics properties in key North American markets. The management team of LPC partnered with Macquarie Capital Real Estate Investments (MREI) on the formation of the platform. LPC currently manages properties in key logistics markets including Chicago, Dallas, Houston and Seattle-Tacoma with an estimated end-value of over $1.25 billion. Headquartered in Chicago, LPC has offices in Atlanta, Dallas, Houston, and Los Angeles with office openings slated for Seattle, Philadelphia and Miami.
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