Nov. 21, 2024
Nippon Steel Kowa Real Estate Co., Ltd. (headquartered in Minato-ku, Tokyo; led by President and CEO Masahiro Miwa) hereby announces its participation in a logistics facility development project (hereinafter the “Project”) in Plainfield, Illinois, U.S., promoted by leading U.S. developer Trammell Crow Company (headquartered in Dallas, Texas; led by CEO Danny Queenan) and CBRE K.K. (headquartered in Chiyoda-ku, Tokyo; led by Representative Director, President and COO Takashi Tsuji). The Company is joining the project alongside Kyushu Electric Power Co., Inc. (headquartered in Fukuoka-shi, Fukuoka; led by President and CEO Kazuhiro Ikebe). To date, Nippon Steel Kowa Real Estate has been involved in the development and operation of 18 logistics facility projects in Japan under its flagship brand, LOGIFRONT. It is now undertaking its first overseas logistics facility development project with the aim of further expanding its logistics facility development business.
With extensive logistics infrastructure such as interstate highways linking major cities on the East and West Coasts, freight railways, and Chicago O’Hare International Airport, a major U.S. air cargo gateway, the Chicago metropolitan area in Illinois has become a leading logistics hub in the Midwest, boasting the nation’s largest logistics stock of approximately 1.1 billion square feet. The site is located approximately 60 kilometers southwest of Chicago’s CBD, in the Far South West Suburbs, an area that has seen a growing concentration of logistics facilities in recent years. Its excellent access to Interstate Highways I-55 and I-80 makes it a suitable location for warehouses and distribution centers for e-commerce and consumer goods.
| Address | 26220 W 143rd Street, Plainfield, IL |
|---|---|
| Lot Area | Approx. 209,000 m2 |
| Total Floor Area | Approx. 73,000 m2 |
| Structure & Number of Floors | Steel structure, single-story |
| Construction Period | October 2024–October 2025 (planned) |
| Construction | Krusinski Construction Company |
Note: The information above is subject to change.
Nippon Steel Kowa Real Estate launched the LOGIFRONT Business Promotion Department in April 2018, with a focus on areas surrounding the factories of Nippon Steel and its group companies. Logistics facility development has become a core business for the Company, alongside its building and residential businesses, with projects primarily in the Greater Tokyo Metropolitan area, as well as the Chubu and Kansai regions. Today, under its flagship brand LOGIFRONT, the Company develops and operates advanced logistics facilities designed to meet diverse customer needs, such as LOGIFRONT Koshigaya I and LOGIFRONT Amagasaki II.
Drawing on the experience gained from its flagship property, MFLP/LOGIFRONT Tokyo Itabashi*1, which was completed at the end of September 2024, the Company plans to respond to diverse corporate needs and expand beyond logistics facility development to actively pursue industrial real estate projects, such as warehouses equipped with cranes, warehouses for hazardous materials, refrigerated and frozen warehouses, R&D facilities, industrial support facilities, data centers, and more.
Going forward, the Company will continue monitoring market trends to seek out attractive business opportunities and actively move forward with initiatives both in Japan and overseas.
*1: A joint project with Mitsui Fudosan Co., Ltd.
Trammell Crow Company is one of the leading developers in the U.S., with a 75-year history since its establishment in 1948. To date, the company has developed or acquired approximately 2,900 buildings, totaling a value of USD 75 billion and a floor area of 655 million square feet. Since joining the CBRE Group in 2006, the company has carried out real estate development activities from 28 locations across the United States and Europe.
CBRE K.K. is the Japan-based subsidiary of the CBRE Group, a global leader in commercial real estate services. Since its establishment in 1970, the company has spent more than half a century providing comprehensive real estate solutions for corporations, offering 17 wide-ranging service lines nationwide, including real estate leasing and sales brokerage, various advisory and property management functions, and real estate appraisal. In this project, the company will be responsible for providing asset management services for investors.
Guided by the Kyuden Group’s Mission, with “Enlighten Our Future” as its brand message, the Kyuden Group is engaged in renewable energy, overseas businesses, ICT services, and urban development, with its electricity businesses in Japan (power generation and retail, as well as distribution) at the core.
Following the establishment of its Urban Development Business Division in July 2020, the Kyuden Group has pursued unique, high-value-added urban development projects that leverage its energy and digital capabilities, with the aim of growing earnings and contributing to sustainable regional and social development through increased visitor activity, prosperity, and job creation.
