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Logistics Property Co. Breaks Ground on 1 Million Sq. Ft Project in  Kenosha, WI

| November 1, 2018

ground breaking Kenosha, WI

Logistics Property Company, LLC (LPC), a logistics real estate platform focused on the acquisition, development and management of state-of-the-art modern logistics properties in key North American markets, announced it has broken ground on a 1 million square foot logistics project located in Kenosha, WI. 

The 67-acre parcel is situated directly on I-94 less than 50 miles from Chicago. The development is strategically set between two full four-way interchanges just 5 miles south of the $10 billion Foxconn manufacturing facility.

“We’re thrilled to get dirt moving at 94 Logistics Park,” said Aaron Martell, LPC’s Executive Vice President – Midwest Region. “There’s tremendous momentum in the region and we’re excited about capturing some of it. Users will definitely like our product and the amenity-driven location.”

94 Logistics Park is expected to deliver by the end of summer 2019. Building One will be a 750,000 square foot cross docked facility targeting regional distribution players (consumer products, ecommerce, and food users). Building Two will be a rear loaded 288,000 square foot building geared towards manufacturing and local distribution companies. Colliers Chicago Industrial team, Fred Regnery and Ned Frank, have teamed with Colliers Milwaukee broker Steve Sewart to lease the project.

“Developers who have built larger spec product in the region have been rewarded,” said Colliers Chicago Principal, Fred Regnery. “A lack of big box supply makes this the opportune time to break ground on over one million square feet and Colliers is excited to be leading the marketing efforts.”

In addition to this project, LPC is undertaking investment and development in key logistics markets, including Dallas, Houston and Chicago, with an estimated end-value of over $600 million to date. In addition, LPC anticipates closing on properties in Seattle, Indianapolis and Pennsylvania this year, as part of a development pipeline of approximately 20 million square feet. The company is targeting leading industrial markets across the US with strong population demographics and significant in-place infrastructure.

 

Category: General Update, News

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