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| ProLogis acquires land for new distribution park in the Chicago area ProLogis, the world's largest owner, manager and developer of distribution facilities, has acquired 184 acres in Wilmington, Illinois, for a new distribution park serving Logistics Park-Chicago, BNSF Railway Company's largest intermodal facility in the Chicago area. The park will be located at the former Joliet Arsenal site, approximately 60 miles southwest of Chicago on Interstate 55. Along with the acquired land, ProLogis has optioned an additional 591 acres at the same location and plans to expand the park through phased development over time. The first phase of development at the park, to be called ProLogis Park Arsenal, will comprise more than 3.2 million square feet of industrial space at full buildout, with a total expected investment of over $120 million. Future phases on the optioned land will accommodate approximately 6.8 million square feet of additional warehouse space. ProLogis expects to begin site preparation and infrastructure work at the new park in the near future, with completion of the first distribution centers anticipated for the first half of 2008. write your comments about the article :: © 2007 Construction News :: home page |