Mapletree acquires 18.1-acre site to develop logistics facility

Mapletree Investments has acquired an 18.11-acre site on Vetter Road in Joliet, Illinois, where it plans to develop a premier logistics facility spanning 276,000 square feet designed by Powers Brown Architecture.

Strategically situated along the I-80 and I-55 interchange, the site offers convenient access to the Joliet Intermodal Center — North America’s largest and most active inland port — comprised of the Union Pacific Joliet Intermodal Terminal and BNSF Joliet Intermodal Terminal.

“This acquisition marks another milestone in our long-term strategy to drive growth through targeted development in key U.S. markets,” said Richard Prokup, Chief Executive Officer, U.S., Mapletree.

Mapletree owns and manages approximately 251 million sq ft of logistics assets worldwide as of December 2024. Since entering the U.S. real estate market in 2014, the company has built a diverse portfolio spanning logistics, data center, office, student housing and multifamily properties.