Global Logistic Properties Ltd. expanded its portfolio in Chicago after acquiring two distribution facilities with 448,000 square feet of space for US$33 million.
The company acquired the fully leased facilities in two separate deals from institutional owners. The Bedford Park distribution building comprises of 308,000 square feet and houses facilities of FedEX, UPS and USPS, while the Western Cook County building, which has 139,000 square feet of space, provides immediate access to urban Chicago due to its strategic location near major highways.
With the acquisition, GLP increased its Chicago footprint to 11 million square feet. The company owns 173 million square feet of modern logistics facilities across the US.