Logistics Property Company, LLC (LogiPropCo), a logistics real estate owner, developer, and manager, has executed on 3.5 million square feet of new leases, renewals, and expansions across the portfolio. Recent leases include a 973,200-square-foot full-building lease at South Penn Logistics Center in Morrisville, Pennsylvania, and two full-building leases totaling 1,032,079 square feet at Olive Logistics Center in Glendale, Arizona. Both developments were completed in late 2025.
At South Penn Logistics Center, Cushman & Wakefield’s Gerry Blinebury and Jonas Skovdal supported the acquisition of the site, and John Gartland, Kevin Hagenberg, and Chris Butera served as the building’s leasing representatives. Cushman & Wakefield’s Andy Markham, Phil Haenel, and Mike Haenel represented the leasing of Olive Logistics Center, with Jim Wilson representing the tenant.
“We are pleased to see strong leasing activity across our portfolio this quarter,” said Jim Martell, Chief Executive Officer of LogiPropCo. “In addition to new leases, we had several renewals and expansions with existing tenants, a testament to our strong tenant relationships and the ability of our developments to meet evolving needs.”
The company also closed on two development sites in the first quarter. Totaling 131 acres, the new sites will result in up to 1.8 million square feet of modern logistics facilities. Situated directly between Dallas and Fort Worth, the company will expand its presence in Texas with Bear Creek Logistics Park, a two-phase development located at the four-way intersection of President George Bush Turnpike and Shady Grove Road in Grand Prairie, ten minutes from Dallas Fort Worth International Airport.
In Chicago, LogiPropCo announced 390 O’Hare Logistics Park, its third new development in the O’Hare Market since the beginning of 2025, following 2700 York Road and 424 Howard Avenue. The site, comprised of a 23-parcel assemblage in Schaumburg, Illinois, will include two 221,580-square-foot buildings with immediate access to Route 390. 390 O’Hare Logistics Park’s leasing representatives are David Haigh and Nick Feczko of NAI Hiffman, who also supported in sourcing the land. A construction loan was closed for this development in the first quarter, totaling $46.9 million in financing.
“It is an exciting time for our Midwest team as we continue to grow in the Chicago market,” said Ben Fish, Vice President – Midwest Development for LogiPropCo. “We have been fortunate to acquire well-located sites in the O’Hare market and continue to pursue opportunities for development in the area.”
About Logistics Property Company
Logistics Property Company, LLC is a real estate operating company and investment manager focused on the acquisition, development, and management of modern logistics properties in key North American markets. The company executes a disciplined investment strategy, ensuring optimal outcomes for our investors, employees, communities, and environment. Headquartered in Chicago, Logistics Property Company owns or has under development 27.9 million square feet of logistics facilities across 14 U.S. markets. For more information, please visit logisticspropco.com.
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