Prologis stock faces five-year Joliet logistics buildout
Published on 11/13/2026 at 14:02 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWSJoliet project expands Prologis pipeline
- Prologis plans a five-building logistics park with Gaming and Leisure Properties on a former casino site in Joliet, Illinois.
- The project covers more than 3.8 million square feet and is planned in three phases over approximately five years.
- City review and approval remain key next steps before the redevelopment can proceed.
Prologis and Gaming and Leisure Properties have agreed to redevelop a former casino site in Joliet, Illinois, into a large logistics park. Chicago Construction News reported on November 2 that the companies signed definitive agreements for the project at 777 Hollywood Boulevard.
Prologis stock traded at 116.53 euros on Lang & Schwarz at 14:00 CET on Friday, November 13. The planned redevelopment gives Prologis another multi-phase development opportunity in the Chicago-area logistics market, while the long timetable leaves execution and local approvals as important milestones for investors.
Large site, phased development plan
The proposed Class A industrial and logistics park is expected to include five buildings totaling more than 3.8 million square feet. Construction is planned in three phases over approximately five years, subject to review and approval by the City of Joliet.
Gaming and Leisure Properties will contribute the 262-acre property to the joint venture in three phases. Prologis will serve as managing member and developer and will hold options for the second and third phases. The arrangement gives Prologis control over development execution while keeping later construction stages dependent on future decisions.
The property became available after Penn Entertainment moved its Hollywood Casino operations to another Joliet location in September 2025. The site sits along Interstate 80, a major freight corridor serving the Chicago region and the broader Midwest logistics market.
Approval and execution remain central
For Prologis, the project broadens the development pipeline and applies its logistics real estate platform to a large redevelopment site. The lengthy, phased schedule also means that leasing, construction progress and capital discipline will shape how quickly the project contributes to business growth.
For Gaming and Leisure Properties, the venture represents its first investment outside gaming real estate, according to the report. GLPI Chairman and CEO Peter Carlino said the partnership would allow the company to monetize its Joliet land while using Prologis's development expertise. Prologis Senior Vice President and Investment Officer Josh Zemon pointed to the site's transportation access and its potential to serve local businesses.
The companies plan to work with Joliet officials and the local community during the development approval process. That municipal review is the immediate next step before construction timing becomes more concrete.
Prologis at a glance
- Company: Prologis Inc.
- ISIN: US74340W1036
- Lang & Schwarz price: 116.53 euros at 14:00 CET on Friday, November 13, 2026
- Project: More than 3.8 million square feet across five planned buildings
- Site: 262 acres at the former Hollywood Casino Joliet property
- Development plan: Three phases over approximately five years
Broader trading context is available in current S&P 500 market reports.
