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BOSTON, July 27, 2021 /PRNewswire/ – Manulife Investment Management introduced currently the acquisition of the Joliet Logistics Heart, a condition-of-the-art logistics facility in Joliet, Illinois. Acquired on behalf of a managed account, the just one million sq. foot, Course A assets is found in the I-80 corridor, just one of Chicago’s prime institutional submarkets.
Just 30 miles southwest of downtown Chicago, the Joliet submarket is dwelling to a substantial variety of modern distribution facilities that services the populace of Chicago and the encompassing Midwest location. The Chicago industrial industry continues to catch the attention of a large variety of tenants across all industries, due to its central location, superb transportation infrastructure, and sturdy labor pool.
The greatest-in-class property sits on a 60-acre internet site and is made up of a one million sq. foot, cross-docked making, with 36′ apparent heights, 50’x54′ column spacing, 226 dock doors, four travel-in doorways, an ESFR sprinkler process, , and LED mild fixtures. The asset is leased on a extended-expression basis to just one of the world’s premier car producers.
“The Joliet Logistics Centre signifies an opportunity to receive a sturdy core industrial asset in a single of the deepest, institutional industrial marketplaces in the nation,” mentioned Pritesh Patel, Head of U.S. Real Estate Investments, Manulife Financial commitment Management. “The acquisition of this state-of-the-artwork facility is a solid addition to our current portfolio in the higher Chicago area.”
Manulife Financial investment Administration develops and manages professional true estate for thousands of buyers all over the world as portion of its extensive personal markets’ abilities. As of March 31, 2021, the authentic estate portfolio totals 63 million square feet of place of work, industrial, and retail space strategically found in markets throughout Canada, the U.S., and Asia. The group leverages its global platform and regional knowledge to deliver marketplace-main options for its tenants and provide results for its associates.
About Manulife Expenditure Administration
Manulife Investment Management is the world-wide wealth and asset management section of Manulife Financial Corporation. We attract on a lot more than a century of financial stewardship and the complete assets of our parent enterprise to serve individuals, establishments, and retirement prepare users around the globe. Headquartered in Toronto, our top capabilities in community and personal markets are strengthened by an investment footprint that spans 17 nations around the world and territories. We enhance these abilities by furnishing entry to a community of unaffiliated asset professionals from all over the globe. We’re committed to investing responsibly throughout our corporations. We establish modern worldwide frameworks for sustainable investing, collaboratively engage with companies in our securities portfolios, and maintain a substantial conventional of stewardship wherever we personal and function assets, and we consider in supporting money effectively-getting by our office retirement plans. Currently, plan sponsors around the planet rely on our retirement approach administration and investment experience to support their workers program for, help save for, and stay a improved retirement.
As of March 31, 2021, Manulife Investment Administration experienced CAD $764.1 billion (US $607.6 billion) in assets beneath administration and administration. Not all choices are offered in all jurisdictions. For additional details, make sure you stop by manulifeim.com.
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