Manulife Investment Management Acquires Industrial Property In Joliet, Il From DHL Supply Chain For $94.3M

Manulife Investment Management - Paul R. Lorentz has acquired an industrial property in Joliet, Illinois. Located at 1023 E. Laraway Road, the property spans 1,000,000 square feet and sits on a 60-acre site. The transaction was completed on July 28, 2021, with a sale price of $94,300,000, resulting in a price per square foot of $94.30 and a price per acre of $1,571,667.

Summary of transaction details

• Property Type: Industrial
• Transaction Amount: $94,300,000
• Address: 1023 E. Laraway Road, Joliet, IL
• Market: Joliet, IL
• Buyer: Manulife Investment Management - Paul R. Lorentz
• Seller: DHL Supply Chain
• Square Footage: 1,000,000
• Price per Square Foot: $94.30
• Acreage: 60
• Price per Acre: $1,571,667

DHL Supply Chain was the seller in this transaction, while Manulife Investment Management - Paul R. Lorentz represented the buyer. The deal was finalized on July 28, 2021.