Joliet Logistics Park - Bldg. 1

Jones Lang LaSalle ("JLL"), as exclusive advisor to ownership, has been retained to market for sale the fee-simple interest in Joliet Logistics Park Building I (the "Property" or the "Opportunity"), a 992,640 square-foot cross docked distribution center located in Elwood, IL (Chicago MSA). Developed by Hillwood in 2017, the Property features 36' clear height, multiple points of ingress/egress, significant trailer parking storage, and 190' truck court depths with full building circulation. NFI Industries leases 100% of the facility through 1/31/2029, with two, five-year fair market value renewal options. JLL estimates NFI's in-place rent to be 65% below market, allowing for an outsized near-term mark-to-market opportunity. The Property offers investors an outstanding opportunity to acquire highly functional industrial product in a core Chicago industrial market at a basis well below today's replacement costs and the ability to meaningfully enhance going-in yields.

The Property is extremely well located in a premier bulk logistics pocket of Joliet/Elwood, with unmatched transportation infrastructure access. In addition to immediate access of I-80 and I-55, Joliet is notably surrounded by Chicago's major intermodal yards - BNSF Railway LPC and Union Pacific Global IV. This is the best intermodal location in the Chicago market and a major driver of NFI's site selection at the Property, along with other blue chip tenants in the region including Home Depot, Walmart, Dollar Tree, and Amazon. This nearby transportation infrastructure, along with exposure to dense, blue-collar labor pools, has allowed the I-80 corridor absorb over 32 MSF since 2020 and maintain a 4.30% vacancy rate.