CBRE, NIPPON STEEL KOWA REAL ESTATE To Develop Logistics Facility Near Chicago
CBRE will participate in the development of Plainfield Business Park, Phase II, a logistics facility in Plainfield, Illinois, in May 2026 through its U.S. Industrial Venture, or UIV, series, which provides Japanese partners with investment opportunities in U.S. logistics facility developments. The project is the third program in the UIV series, with NIPPON STEEL KOWA REAL ESTATE CO.,LTD. and Keihanshin Building Co.,Ltd. investing. Development will be handled by Trammell Crow Company, or TCC, a U.S. developer under the CBRE Group.
The planned site is in Plainfield, Illinois, about 60 kilometers southwest of Chicago’s CBD. The project will develop a large-scale, single-story steel-frame logistics facility on a site of approximately 56,900 tsubo (approx. 2,025,000 sq. ft.), with a Gross Floor Area of approximately 22,100 tsubo (approx. 786,500 sq. ft.). Construction started in May 2026, with completion scheduled for June 2027.
The Chicago metropolitan area is a logistics hub in the U.S. Midwest, supported by logistics infrastructure including interstate highways, freight rail and Chicago O’Hare International Airport. Its logistics stock totals approximately 1.4 billion square feet, the largest in the U.S. The planned site is in the Far Southwest Suburbs area, where logistics facilities have been concentrating in recent years, and offers strong access to Interstates 55 and 80. The location is well positioned to serve a broad range of logistics demand, from long-haul transportation to metropolitan-area distribution.
The UIV series is a framework through which CBRE’s investment banking and asset management divisions work together and leverage TCC’s development capabilities to support Japanese companies’ investments in U.S. logistics facilities. The first program was developed in 2024 in the same Plainfield market, and this project is adjacent to that site. The second program was formed in Georgia in 2025, and NIPPON STEEL KOWA REAL ESTATE CO.,LTD. has participated in all of the projects. Reference article: CBRE Develops Logistics Facility in Georgia Under Program for Japanese Partners.（see related article:CBRE Launches Logistics Development in Georgia Targeting Japanese Investors）
NIPPON STEEL KOWA REAL ESTATE CO.,LTD. launched its logistics business in April 2018 and has developed and operated logistics facilities in Japan under its flagship LOGIFRONT brand. In recent years, the company has also been building investment track records in the U.S. logistics market.
US Industrial Venture, or UIV, Series Development Projects
Program | Project Name | Location | Construction Start / Completion | Investors |
|---|---|---|---|---|
No. 1 | Plainfield Business Park | Plainfield, Illinois, U.S. | Construction started in October 2024 / Completion in October 2025 | NIPPON STEEL KOWA REAL ESTATE CO.,LTD., Kyushu Electric Power Co., Inc. |
No. 2 | Buford Creek Business Center | Buford, Georgia, U.S. | Construction started in May 2025 / Completion scheduled for late 2026 | Hankyu Hanshin Properties Corp., Keihanshin Building Co.,Ltd., NIPPON STEEL KOWA REAL ESTATE CO.,LTD. |
No. 3 | Plainfield Business Park, Phase II | Plainfield, Illinois, U.S. | Construction started in May 2026 / Completion scheduled for June 2027 | NIPPON STEEL KOWA REAL ESTATE CO.,LTD., Keihanshin Building Co.,Ltd. |
Key Facts
- Name: Plainfield Business Park, Phase II
- Owner: US Industrial Venture No. 3 LP (NIPPON STEEL KOWA REAL ESTATE CO.,LTD., Keihanshin Building Co.,Ltd.)
- Location: 26220 W. 143rd St., Plainfield, IL
- Area: Site Area: Approximately 56,900 tsubo (approx. 2,025,000 sq. ft.) / Gross Floor Area: Approximately 22,100 tsubo (approx. 786,500 sq. ft.)
- Number of Floors: 1F (steel-frame construction)
- Construction Start: May 2026
- Completion: June 2027 (scheduled)
- Contractor: FCL Builders, LLC