Updated May 20, 2025
Edmund Cheng And Hiew Yoon Khong Of Mapletree Investments Acquire Development Site In Joliet
23551 South Vetter Road
Building Size
—
Asset Type
Development Site
Closing
May 16, 2025
About this deal
AI
A development site located at 23551 South Vetter Road in Joliet, IL, was sold. The site spans 18.11 acres and features a building square footage of 276,000. It is strategically positioned near the I-80/I-55 interchange and the Joliet Intermodal Center.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: Not specified
- Building Square Footage: 276,000
- Acres: 18.11
- Address: 23551 South Vetter Road
- Market: Joliet
- Buyer: Edmund Cheng & Hiew Yoon Khong - Mapletree Investments
- Broker: Sean Henrick - Cushman & Wakefield
Mapletree Investments acquired the site to develop a logistics facility, contributing to their expanding portfolio in the United States, which includes developments in Chicago, New Jersey, and Florida.
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93