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Venture One Buys 219K-SF Waukegan Industrial Facility
Venture One Real Estate, through its acquisition fund, VK Industrial VII, LP, has closed on the acquisition of a 218,617-square-foot industrial building located at 2431 Delany Road in Waukegan, Illinois.
Eric Fischer, Brett Kroner, Keith Puritz, and Marc Samuels of Cushman & Wakefield represented the seller in the transaction. Whit Heitman and Jack Fitzpatrick of CBRE represented Venture One and the tenant in the transaction. They have been retained to market the remaining 60,034 square feet of vacant space.
VK Industrial VII is co-sponsored by Venture One Real Estate and Kovitz Investment Group. The fully discretionary fund targets industrial acquisitions in the Chicago, Northeast, and Florida markets.
Prior to closing on the property, Venture One signed a long-term lease for 158,743 square feet. The building was constructed in 2014 and sits on 11.79-acres of land. It features 30’ clear height, 28 exterior docks, 4 drive-in doors, parking for 250 cars, and an ESFR sprinkler system.
