Mapletree acquires Joliet site to expand US logistics reach

The site is located near the I-80 and I-55 interchange and offers access to the Joliet Intermodal Center.

Singapore-based real estate giant Mapletree Investments has acquired an 18.11-acre site on Vetter Road in Joliet, Illinois, where it plans to develop a 276,000-square-foot LEED-certified logistics facility.

The site is located near the I-80 and I-55 interchange and offers access to the Joliet Intermodal Center, one of North America's largest inland ports.

According to Mapletree, the acquisition aligns with its broader strategy to increase its presence in key US logistics markets.

Mapletree’s industrial holdings in the Chicago area now include 65 assets totaling approximately 10.3 million square feet. The company manages around 251 million square feet of logistics space globally as of December 2024.

The Joliet acquisition is part of a series of ongoing US projects. In April 2025, Mapletree received approval to develop a 149,100-square-foot facility on an 8.2-acre site in North DuPage, Chicago, adjacent to an existing 400,000-square-foot warehouse. Construction is expected to begin later this year.

Elsewhere, the company is developing a 250,000-square-foot logistics facility on a 22.5-acre site in Westampton Township, New Jersey, and is expanding its Central Florida site on Gills Drive by 53,995 square feet, with completion expected by the end of 2025.

As of March 2024, Mapletree reported that the US accounted for about 27% of its total assets under management, valued at approximately US$57.7b ($77.5b). The company’s portfolio spans logistics, data centers, office space, student housing, and residential properties.