The 262-acre site that once hosted Hollywood Casino Joliet is being transformed into a sprawling industrial park, under a new joint venture between Gaming and Leisure Properties and logistics giant Prologis. The plan calls for five warehouse buildings totaling more than 3.8 million square feet at 777 Hollywood Boulevard, with construction expected to unfold over roughly five years in three phases.
Gaming and Leisure Properties, known as GLPI, announced the agreement on Wednesday, according to a news release from the company. Under the deal, GLPI will contribute the Joliet parcel to the joint venture in phases, while Prologis will serve as the managing member and developer responsible for bringing the project to life. Prologis holds options over the second and third development phases, giving it flexibility on how aggressively to build out the remaining buildings.
The casino site has sat empty since Penn Entertainment moved out in September 2025, after opening a new Hollywood Joliet property elsewhere in the city, the release states. GLPI framed the move as an opportunity to put the land to new use. GLPI CEO Peter Carlino said the company sees value in contributing and monetizing its expansive Joliet land parcel, according to the Chicago-based trade outlet Bisnow, which first detailed the deal’s terms Wednesday.
A First-of-Its-Kind Move for GLPI
The arrangement marks a notable pivot for GLPI, a company built on gaming real estate. The GLPI release describes it as the firm’s first joint venture ever and its first investment outside the gaming sector entirely, a sign of how appealing industrial land along Interstate 80 has become even to companies outside the logistics business. Per Bisnow’s reporting, Prologis investment officer Josh Zemon said the site offers exceptional location and access and presents an opportunity to create a modern logistics campus supporting local businesses and the economy…