{"id":1004123642,"date":"2015-07-21T05:31:21","date_gmt":"2015-07-21T13:31:21","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004123642"},"modified":"2020-04-15T10:56:08","modified_gmt":"2020-04-15T18:56:08","slug":"glp-nabs-global-retailer-as-tenant","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/glp-nabs-global-retailer-as-tenant\/","title":{"rendered":"GLP Nabs Global Retailer as Tenant"},"content":{"rendered":"<div id=\"attachment_1004123643\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/07\/Laraway-Crossings-Building-2.jpg\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004123643\" data-attachment-id=\"1004123643\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/glp-nabs-global-retailer-as-tenant\/laraway-crossings-building-2\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/07\/Laraway-Crossings-Building-2.jpg\" data-orig-size=\"575,405\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;1&quot;}\" data-image-title=\"Laraway Crossings Building 2\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/07\/Laraway-Crossings-Building-2.jpg?w=575\" class=\"wp-image-1004123643 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/07\/Laraway-Crossings-Building-2.jpg\" alt=\"Laraway Crossings Building 2\" width=\"300\" height=\"211\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/07\/Laraway-Crossings-Building-2.jpg 575w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/07\/Laraway-Crossings-Building-2.jpg?resize=300,211 300w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004123643\" class=\"wp-caption-text\">Laraway Crossings Building 2<\/p><\/div>\n<p><em>By Keith Loria, Contributing Editor<\/em><\/p>\n<p><a href=\"https:\/\/www.glprop.com\/\" target=\"_blank\" rel=\"nofollow\">Global Logistic Properties Ltd.<\/a> has leased 475,000 square feet of logistics space at Laraway Crossings Business Park in Joliet, Ill., to a leading global retailer.<\/p>\n<p>Although the lessee was not revealed, the customer is planning to use the logistics facilities to enhance its distribution capabilities in the Midwest.<\/p>\n<p>\u201cThe appeal was the combination of building functionality, the local labor force, and access to the intermodal and highway infrastructure,\u201d Paul Loosmann, GLP\u2019s U.S. co-chief investment officer, told <em>Commercial Property Executive<\/em>. \u201cGLP recognized the value upside when we acquired the building vacant in February. Fully stabilizing this building with excellent credit over a long-lease term significantly enhances the value of this strategic asset.\u201d<\/p>\n<p>Laraway Crossings is a 362-acre master-planned distribution park located southwest of Chicago that is ideal for companies to relocate and consolidate their warehouse and distribution centers. Buildings in the business park range from 80,000 square feet to 1,400,000 square feet. Facilities are cross-docked with a 30-to 32-foot clear ceiling height minimum, Early Suppression Fast Response sprinkler systems, ample parking, large truck courts and on-site trailer storage.<\/p>\n<p>According to Loosmann, demand for space at Laraway Crossings has been very strong and the company will be making small changes to fit the needs of the incoming global client.<\/p>\n<p>\u201cThe business-friendly climate of Joliet and strong local workforce, coupled with the transportation network, pushed this location to the forefront,\u201d he added. \u201cWe are currently building out additional office and providing other improvements to meet the customer\u2019s needs.\u201d<\/p>\n<p>GLP U.S. was formed in 2015 through the acquisition of former IndCor Properties, and is now one of the largest U.S. providers of industrial real estate with over 110 million square feet under management located in 29 key markets across the country. GLP\u2019s U.S. $28 billion property portfolio encompasses over 440 million square feet of logistics facilities across China, Japan, Brazil and the U.S.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Global Logistic Properties has leased a sizable industrial space in Joliet, Ill., to a leading global retailer.<\/p>\n","protected":false},"author":451,"featured_media":1004123643,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21784,21748,13,21742],"tags":[],"class_list":["post-1004123642","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-brokerage","category-industrial","category-midwest","category-latest"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>GLP Nabs Global Retailer as Tenant - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/glp-nabs-global-retailer-as-tenant\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"GLP Nabs Global Retailer as Tenant\" \/>\n<meta property=\"og:description\" content=\"Global Logistic Properties has leased a sizable industrial space in Joliet, Ill., to a leading global retailer.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/glp-nabs-global-retailer-as-tenant\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2015-07-21T13:31:21+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2020-04-15T18:56:08+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/07\/Laraway-Crossings-Building-2.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"575\" \/>\n\t<meta property=\"og:image:height\" content=\"405\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Keith Loria\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/glp-nabs-global-retailer-as-tenant\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/glp-nabs-global-retailer-as-tenant\\\/\"},\"author\":{\"name\":\"Keith Loria\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/aaa29b723dad85f2444ae3cb0c4d735f\"},\"headline\":\"GLP Nabs Global Retailer as Tenant\",\"datePublished\":\"2015-07-21T13:31:21+00:00\",\"dateModified\":\"2020-04-15T18:56:08+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/glp-nabs-global-retailer-as-tenant\\\/\"},\"wordCount\":330,\"commentCount\":0,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/glp-nabs-global-retailer-as-tenant\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2015\\\/07\\\/Laraway-Crossings-Building-2.jpg\",\"articleSection\":[\"Brokerage\",\"Industrial\",\"Midwest\",\"News\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/glp-nabs-global-retailer-as-tenant\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/glp-nabs-global-retailer-as-tenant\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/glp-nabs-global-retailer-as-tenant\\\/\",\"name\":\"GLP Nabs Global Retailer as Tenant - 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