Exclusive: Amazon Facility Lands $54M North of Chicago
The warehouse debuted in 2022, developed on a speculative basis.
Venture One Real Estate has secured a $54.3 million refinancing loan backed by Commerce 94, a 1 million-square-foot warehouse in Kenosha, Wis., according to Yardi Matrix information. Wells Fargo issued the debt, which retired a previous $41.3 million note.
The property debuted in 2022, built on a speculative basis. That same year, Amazon fully leased the facility, which has more than 160 aisles, holding up to 40 million products. It has 40-foot clear heights, 206 dock doors and six grade-level doors, as well as 457 parking spaces.
Located at 10601 38th St., the warehouse is about 33 miles south of downtown Milwaukee, Wis., and some 60 miles north of Chicago. Interstate 94 runs less than 1 mile away, while U.S. Route 45 is within 6 miles.
READ ALSO: CPE Book of Rankings
This Kenosha warehouse isn’t Venture One’s sole Amazon-leased facility. The e-commerce giant also inked a 1 million-square-foot deal at the company’s campus in Channahon, Ill., about 94 miles from Kenosha.
The company owns about 21 million square feet of completed space, along with another 16 million square feet in various stages of development, according to its website. Last year, it acquired another large-box industrial asset, also fully leased to a single tenant. It paid $39.6 million to Ares Management for a 718,761-square-foot warehouse in Monee, Ill., Yardi Matrix shows.
Industrial lending maintains momentum
Overall commercial real estate lending volume has increased for five consecutive quarters, according to the latest Mortgage Bankers Association report. In the industrial sector, however, originations were down 17 percent quarter-over-quarter through September.
The three-month span between April and June recorded the highest industrial lending figure since 2022, while the first nine months of 2025 saw a 19 percent year-over-year increase in origination volume, the same source shows.
Some of the notable industrial loans that closed during 2025’s second quarter include Blackstone’s $1 billion CMBS debt for an 11.6 million-square-foot portfolio, as well as Ares Management’s issuance of a $99.1 million loan for Arden Logistics.
You must be logged in to post a comment.