Logistics Property Company closes six land deals for nearly 2.5 million s/f of development

Logistics Property Company, LLC (LogiPropCo), a logistics real estate owner, developer, and manager, closed on five development sites to date this year, investing $200 million of committed equity into six markets. Located in markets including Atlanta, Chicago, Denver, and Washington D.C., the 185 acres of land acquired will result in nearly 2.5 million s/f of modern logistics facilities.

In Chicago, LogiPropCo announced a new 123,000 s/f development at 2700 York Road in Elk Grove Village, located five minutes from O’Hare’s South Cargo Terminal. Outside Denver, the company will soon break ground on its first development in the market, a three-building, 608,000 s/f park near I-25 and E-470. Near Washington D.C., LogiPropCo will develop a two-building 270,000 s/f park in Beltsville, Maryland.

In the Atlanta market, LogiPropCo will expand its Gainesville 85 Business Center by adding two buildings on adjacent land. When complete, the park will total four buildings and nearly one million s/f.

“We are seeing continued demand across the national development portfolio, especially from mid-sized, clean manufacturing tenants, from pharmaceuticals to building products,” said Sean Fitzsimmons, LogiPropCo’s southeast market leader. “Acquiring sites with heavy available power and a strong local workforce enables us to continue to meet market demand.”

“We are pleased to have executed this loan at First State, our first with the ING Capital team,” said Katherine Bernstein, senior vice president, capital markets at LogiPropCo. “We look forward to continued opportunities to work with their team.”