Chicago Construction News staff writer
A 262-acre former casino property in Joliet, Ill., is being redeveloped into a five-building warehouse and distribution complex under a joint venture between Gaming and Leisure Properties Inc. (GLPI) and Prologis Inc.
The companies have entered into definitive agreements to develop the property at 777 Hollywood Boulevard into a Class A industrial and logistics park, subject to review and approval by the City of Joliet.
The proposed development is expected to include five buildings totalling more than 3.8 million square feet. Construction is anticipated to take place over approximately five years in three phases.
GLPI will contribute the land to the joint venture in three phases, while Prologis will serve as managing member and developer. Prologis will also hold options for the development of the second and third phases.
The site was vacated in September 2025 by Penn Entertainment Inc., which relocated its Hollywood Casino operations to a new property in Joliet.
The redevelopment will convert the former gaming property into an industrial complex along Interstate 80, one of the country’s major logistics corridors.
The agreement marks GLPI’s first joint venture and its first investment outside the gaming sector. The company primarily acquires, finances and owns real estate leased to gaming operators under triple-net lease arrangements.
“We are pleased to partner with Prologis, a leader in the logistics real estate space, in this joint venture,” said Peter Carlino, GLPI chairman and CEO.
“We see considerable value in this development, as we contribute and monetize our expansive Joliet land parcel, and benefit from the expertise of Prologis in the development of this coveted site.”
Josh Zemon, Prologis senior vice-president and investment officer, said the location offers access to regional transportation infrastructure and an opportunity to develop a logistics campus serving local businesses.
The companies said they will work with the City of Joliet and the local community as the project moves through the development approval process.
