Venture One Expands Portfolio with Waukegan Acquisition
Deal News | Mar 19, 2025 | Venture One Real Estate LLC
Venture One Real Estate LLC, through its acquisition fund VK Industrial VII, LP, has completed the acquisition of a substantial 218,617 square foot industrial property in Waukegan, Illinois. Located at 2431 Delany Road, the building stands on an 11.79-acre plot and offers a range of features including 30-foot clear heights, dozens of loading docks, drive-in doors, and extensive car parking. This acquisition is supported by a long-term lease securing 158,743 square feet of the space, with CBRE tasked with marketing the remaining 60,034 square feet. The seller was represented by Cushman & Wakefield's Eric Fischer and team. This acquisition is part of Venture One's strategy to expand its industrial property footprint in strategic locations.
Sectors
- Real Estate
- Industrial
Geography
- United States – The industrial building acquired is located in Waukegan, Illinois, which is in the United States.
- Illinois – The property is situated in Waukegan, which is within the Illinois region, indicating region-specific real estate activity.
Industry
- Real Estate – The transaction involves the acquisition of an industrial building, which is a predominant aspect of real estate investment and management.
- Industrial – The property acquired is an industrial facility, indicating a focus on investments within this sector.
Financials
- 218,617 square feet – Size of the industrial building acquired by Venture One Real Estate.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Venture One Real Estate LLC | Bidding Company | Company | A real estate investment company acquiring the industrial building. |
| VK Industrial VII, LP | Acquisition Fund | Company | The fund through which Venture One Real Estate financed the acquisition. |
| Cushman & Wakefield | Legal Advisor | Company | Represented the seller in the transaction. |
| CBRE | Legal Advisor | Company | Represented Venture One and the tenant in the transaction and will market the remaining vacant space. |
| Eric Fischer, Brett Kroner, Keith Puritz, Marc Samuels | Brokers | People | Representatives from Cushman & Wakefield involved in the transaction. |
| Whit Heitman, Jack Fitzpatrick | Brokers | People | Representatives from CBRE involved in the transaction and marketing efforts. |