New logistics center to deliver in Q4 of 2023
Logistics Property Company, LLC (“LPC”), a rapidly growing industrial real estate developer, investor, and manager in North America, has commenced construction on a new logistics center in Oak Forest. The nearly 665,000-square-foot development is strategically located with immediate access to the I-57 four-way interchange at 167th Street, just two miles from the I-57 and I-80 interchange and three miles from I-294, a prime location for industrial users.
“We are proud to announce this new project, expanding our strategic presence in the Chicagoland area and are excited to see it completed later this year,” said Ben Fish, Vice President of Logistics Property Company’s Midwest Region. “This building’s construction follows the success of our nearby LogiPark 57-80 development park in Country Club Hills, IL, which is comprised of 1.2m sf across 3 buildings and is 89% leased. The high visibility and access to skilled labor make this an ideal location.”
Located 24 miles from downtown Chicago, the building will feature four drive-in doors, 117 exterior docks, and parking for 116 trailers and more than 500 cars.
Jason West, Sean Henrick, and Ryan Klink of Cushman & Wakefield are the project’s leasing representatives. “The Oak Forest Logistics Center is a class A industrial opportunity in the south suburbs which boasts a phenomenal labor pool, unmatched access and Interstate visibility,” said Jason West, Executive Vice Chair at Cushman & Wakefield.
Oak Forest Logistics Center, located at 16799 Cicero Avenue in Oak Forest, IL, will deliver at the end of the year. Further project information can be found here.
About Logistics Property Co.
Logistics Property Company, LLC (LPC) is an industrial real estate company focused on the acquisition, development, and management of modern logistics properties. The group is led by a diverse management team that averages more than 25 years of experience and has developed more than 56.7 million square feet of logistics buildings since 1995. LPC is headquartered in Chicago with more than 75 employees strategically located across eight offices. Its portfolio currently comprises 55 buildings across 23.9 million square feet in key logistics markets across North America with an estimated end value of more than $4.3 billion. For further information, please visit logisticspropco.com and follow @logisticspropco.