Will County Expansion to Result in Nearly 2,500 Jobs, $450 Million Investment
JOLIET, Ill., April 9, 2026 /PRNewswire/ — Industrial Realty Group, LLC (IRG), one of the country’s largest owners of commercial and industrial properties, is proud to announce it has executed a long-term lease with Hyundai Translead, a subsidiary of Hyundai Motor Company.
Hyundai Translead will lease 1.38 million square feet of space in Joliet, Illinois, expanding its manufacturing footprint to better serve its customers. The facility, which was formerly Caterpillar’s main plant, will once again support a powerhouse global manufacturing company and employ thousands of people.
“We are proud to partner with Hyundai Translead on this transformative project,” said Justin Lichter, Chief Investment Officer of IRG. “This lease represents the beginning of a new chapter for the facility, county and state. It reinforces IRG’s commitment to revitalizing complex industrial assets into modern, high-impact economic drivers.”
“Our expansion to Illinois represents years of planning and a shared vision for long-term growth,” said Sean Kenney, Chief Executive Officer of Hyundai Translead. “This investment reflects our confidence and commitment to building products, workforce development, and partnerships that endure.”
In addition to the Joliet facility, Hyundai Translead will also move into a second Will County location at the former Lion Electric site. The expansions will collectively create approximately 2,500 new full-time jobs and $450 Million of investment into the facilities.
The Joliet transaction was managed by Onno Steger, Senior Vice Present of IRG.
Darwin PW Realty’s Jerry Sullivan and Ed Wabick represented the landlord and Shamus Conneely of John Greene Commercial represented the tenant.
About IRG
IRG is a nationwide real estate development and investment firm specializing in the acquisition, development and management of commercial and industrial real estate throughout the United States. IRG, through its affiliated partnerships and limited liability companies, operates a portfolio containing over 150 properties in 31 states with over 100 million square feet of rentable space. IRG is nationally recognized as a leading force behind the adaptive reuse of commercial and industrial real estate, solving some of America’s most difficult real estate challenges.
Learn more at www.industrialrealtygroup.com.
About Hyundai Translead
Founded in 1989, Hyundai Translead is the leading van trailer manufacturer in North America, producing dry and refrigerated van trailers, flatbeds, truck bodies, and dollies. Headquartered in San Diego, CA, and wholly owned by Hyundai Motor Company, the company leverages advanced engineering and manufacturing to deliver customer-focused transportation solutions. In addition to its manufacturing leadership, Hyundai Translead is also the exclusive distributor of Hyundai’s XCIENT Fuel Cell trucks in North America, a sustainable solution designed to expand fleet options towards zero-tailpipe emission logistics.
For more information, visit www.hyundaitranslead.com.
Lauren Crumrine, Vice President of Marketing
Industrial Realty Group, LLC
614-562-9252
lcrumrine@industrialrealtygroup.com
View original content to download multimedia:https://www.prnewswire.com/news-releases/irg-secures-1-38-million-sq-ft-hyundai-translead-lease-in-joliet-il-302738611.html
SOURCE Industrial Realty Group, LLC
