In one of the largest land transactions of the year, about 143 acres, Cawley Chicago represented a joint venture partnership led by Venture One Real Estate in the acquisition of the land parcel in southwest suburban Channahon, Illinois.
The land acquisition is part of a phased acquisition that will ultimately total 292 acres. Venture One has planned a 1-million-square-foot speculative warehouse facility, Crossroads 55 Business Park.
Joshua Hearne, SIOR, Senior Executive Vice President and Principal at Cawley, represented Venture One in the acquisition. The seller was represented by Marquette Properties based in Morris, Illinois.
“Chicago is a broker-dominated, relationship-driven real estate community,” Hearne said. “When we first learned of the availability of this significant and extremely well-located opportunity, we brought it to Venture One knowing they had the vision and expertise to take down the site and quickly move it through the various processes necessary to launch the development.”
