CHICAGO, April 3, 2019 /PRNewswire/ -- 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, (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' clear heights, 145' 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."
For more information on Hillwood's acquisition criteria and the latest investments, visit hillwood.com.
Hillwood is a leader in acquiring and developing high-quality industrial properties across the U.S., Canada, and Europe. Hillwood pursues well-located, functional buildings and land and collaboratively builds successful partnerships with public and private landowners, as well as developers to execute and invest throughout a broad spectrum of industrial projects. As a privately held company, Hillwood possesses the depth of capital, market expertise, industry relationships and forward-thinking vision to buy and build industrial properties that meet the logistics, distribution and manufacturing demands of evolving markets.