Industrial Realty Group Leases 1.38M SF In Joliet To Hyundai Translead For Long-Term Deal

The transaction involves an industrial asset situated in Joliet, covering a substantial area of 1,380,000 square feet. This property was previously the site of a Caterpillar plant, which is now set to be revived through a long-term lease agreement.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: Long-term lease
• Landlord: Stuart Lichter - Industrial Realty Group (IRG)
• Tenant: Sean Kenney - Hyundai Translead
• Landlord's Representative: Jerry Sullivan & Ed Wabick - Darwin PW Realty
• Tenant's Representative: Shamus Conneely - John Greene Real Estate
• Lease Term: Long-term

This deal marks a significant investment, with Hyundai Translead planning to expand its operations in Will County, which is projected to create approximately 2,500 jobs and an investment of around $450 million. The representation by Darwin PW Realty and John Greene Real Estate highlights the collaborative effort behind the lease agreement.