GFH Partners sells Illinois logistics facility to Michelin for US$151 million

GFH Partners has completed the sale of a 2-million-square-foot super regional distribution facility in Wilmington, Illinois, to Michelin North America for US$151 million. The transaction, finalized on October 6, 2026, was conducted in partnership with Silver Creek Development.

The facility, located on a 91-acre site near Chicago, is one of only two such centers used by Michelin in the United States and manages a significant portion of the company’s imported U.S. inventory. Michelin, the property’s long-standing tenant, previously held a lease on the 100%-occupied site that was extended beyond 2027.

This sale marks GFH Partners’ fourth exit from its U.S. industrial and logistics portfolio. The investment included value-enhancing initiatives such as expanding trailer parking during the ownership period.