Industrial behemoth Prologis is gearing up to build a massive industrial campus in the Chicago suburbs on the former site of the Hollywood Casino Joliet.
)
Gaming and Leisure Properties entered an agreement Wednesday to form a joint venture with Prologis to develop the 262-acre parcel at 777 Hollywood Blvd. in Joliet. GLPI is contributing the site to the joint venture, and Prologis will develop the project in three phases, GLPI announced in a news release.
Subject to approval from the city of Joliet, Prologis plans to build a five-building warehouse and distribution park totaling more than 3.8M SF.
“We see considerable value in this development, as we contribute and monetize our expansive Joliet land parcel,” GLPI CEO Peter Carlino said in a statement.
The JV estimates the project will be developed over about five years. Prologis holds options for the second and third phases of development.
The deal is GLPI's first joint venture and will transition the former casino site that Penn Entertainment vacated in September 2025.
“The site offers exceptional location and access, and we see a strong opportunity to create a modern logistics campus that supports the local economy and businesses looking to operate in Joliet,” Prologis Investment Officer Josh Zemon said in a statement.
Prologis made another move in Joliet last month, acquiring a water park that had been closed since 2018 for $6.6M. The parcel is next to the former Hollywood Casino Joliet site.
)
)
)
)
)
)
)
)
)
)
)
)