Hillwood, a Perot company, has acquired two fully occupied logistics facilities totaling 338,000 square feet and 58 acres of vacant land that are part of Grandview Business Park in Yorkville, Wisconsin, in the Kenosha/Racine submarket of Chicago.
“We are proud to acquire two highly functional assets and shovel-ready land in a thriving market,” said Tom Fishman, Hillwood’s executive vice president of acquisitions and dispositions.
The two existing light industrial buildings are occupied by five tenants ranging from 40,000 to 120,000 square feet and offer Class A amenities such as 30-foot clear heights, 145-foot truck courts, ESFR fire protection and T-5 lighting. The adjacent vacant land can support up to 845,000 square feet of new construction.
Located within Grandview Business Park, the project has excellent access to Interstate 94 and is one mile from the intersection of Interstate 94 and Highway 11. The central location between Chicago (60 miles south) and Milwaukee (20 miles north) provides users access to both markets.
“Initial development plans for this site include two speculative industrial buildings, that will total just under 200,000 square feet each and can accommodate a variety of users from 25,000 square feet,” said Don Schoenheider, Hillwood’s senior vice president and market leader for the Midwest. “We expect to break ground this summer for early 2020 delivery.”