CHICAGO, IL – Mapletree Investments (“Mapletree” or “the Group”) has acquired a 29.36-acre site at 1035 W. Laraway Road in Joliet, Illinois, where it plans to develop a best-in-class logistics facility spanning 418,880 square feet (sq ft). This transaction marks the Group’s second acquisition in Chicago’s Joliet submarket this year, following the May 2025 purchase of an 18.11-acre site at 3600 Houbolt Road (formerly known as 23551 Vetter Road), where it will build a 276,000-sq ft industrial warehouse.
“Mapletree is optimistic about Chicago’s growth prospects,” said Richard Prokup, Chief Executive Officer, United States (US), Mapletree. “The city has a large population base and offers superior intermodal connectivity, making it one of the nation’s most significant logistics networks. That’s why we’re doubling down on industrial development in submarkets where we see long-term value – particularly in areas such as Joliet and Bartlett.”
Chiagorom Osu, Head of US Logistics Development at Mapletree, added: “This second acquisition in Joliet underscores our strategy of developing best-in-class facilities in markets with strong transportation infrastructure and long-term demand drivers. This facility will be designed and built to meet LEED standards and will feature modern Class A specifications, including 40-foot clear heights, 80 dock doors, 100 trailer stalls and 172 car parking spaces – all within one of the most strategic logistics corridors in the country.”
Situated along the I-80 and I-55 interchange, both the Laraway Road and Houbolt Road sites provide direct connectivity to the Joliet Intermodal Center — North America’s largest inland port — home to both the Union Pacific and BNSF Joliet Intermodal Terminals.
Matthew Stauber and Steve Ostrowski with Colliers International represented the seller and worked directly with Mapletree to secure the transaction.
Mapletree currently owns and manages over 10 million sq ft of industrial assets in the Chicago market. These holdings contribute to the Group’s broader US logistics footprint, which totals over 66 million sq ft. The Laraway Road closing adds to a series of development milestones that Mapletree has recently achieved across the country:
- In April 2025, Mapletree received subdivision and site plan approval to construct a 149,100-sq ft logistics facility on an 8.2-acre parcel adjacent to its existing 400,000-sq ft warehouse at 1350 Munger Road in Chicago’s North DuPage submarket. Groundbreaking is anticipated in fall 2025.
- Earlier this month, Mapletree acquired a 37.64-acre site at 1180 Corporate Center Drive East in Tobyhanna, Pennsylvania, located adjacent to its existing 1.3 million-sq ft industrial asset at 2086 Corporate Center Drive West. The Group plans to develop a 420,262-sq ft, state-of-the-art logistics facility on the site. Completion is expected in Fall 2026.
- In July 2025, Mapletree broke ground for a 250,000-sq ft industrial facility in Westampton Township, New Jersey. Situated on a 22.5-acre site along Burlington-Mount Holly Road, the planned facility is located near major transportation arteries, including the New Jersey Turnpike, airports and seaports, making it well-positioned to serve as a distribution center and last-mile delivery hub.
- Also underway is the 53,995-sq ft expansion of Mapletree’s facility at 350 Gills Drive, located just 10 miles south of downtown Orlando. Once completed in late 2025, the site will total 204,540 sq ft of high-quality logistics space.
Since entering the US real estate market in 2014, Mapletree has built a diverse portfolio spanning logistics, data center, office, student housing and multifamily properties. As of March 31, 2025, the US accounted for approximately 25% of the Group’s total assets under management, valued at ~US$60.1 billion (S$80.3 billion).
The best-in-class logistics facility will span 418,880 square feet.
The warehouse will feature 40-foot clear heights, 80 dock doors, 100 trailer stalls and 172 car parking spaces.
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