Mapletree Investments buys Des Plaines industrial property

Mapletree CEO Hiew Yoon Khong

Singapore-based Mapletree Investments bought a 180,000-square-foot industrial building in Des Plaines.

The firm paid Prologis $11 million for the 6.6-acre property at 105 East Oakton Street, according to Cook County Property records.

The building is two miles from O’Hare Airport in a booming industrial submarket.

The acquisition was part of a $1.1 billion portfolio deal with Prologis that includes properties in South Florida, Seattle, Dallas and New Jersey; as well as France, Poland, Hungary and the Netherlands. Some of the properties were bought in a joint venture with Norway’s sovereign wealth fund Norges Bank Real Estate Management.

Mapletree has more than $39.5 billion in assets, and recently has been busy buying up student housing projects in the United States. It has also been buying corporate housing property in Los Angeles along with other industrial properties in South Florida.

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