WILMINGTON -- Real estate investment firm Elion Partners said it has renamed the former RidgePort Logistics Center in Wilmington to Elion Logistics Park 55.
Upon completion of the approximately $2 billion development, the park will be the largest rail-served, industrial mixed-use logistics park in the Midwest, and one of the largest in the country. The firm has also retained CBRE to assist its leasing efforts as it progresses its development project.
Elion acquired more than 1,000 acres in 2016, with the potential to house 11.4 million square feet of industrial distribution space. At the time, a 2 million square foot facility owned by Michelin and a 50,000 square foot transload cooler building owned by Puris were the only tenants. Since the acquisition, Elion has purchased additional land, made significant infrastructure advancements, and collaborated with local partners and government entities to expand the future Park to more than 30 million square feet.
To date, 6.3 million square feet of multi-tenant and build-to-suit space exists and is occupied by companies such as Post, Lineage, Batory Foods, and another Fortune 500 company.