QXO Waukegan - 10-Year Triple-Net Lease
Industrial | 7.24% CAP | 82,500 SqFt
Marketing description
Marcus & Millichap is pleased to present the opportunity to acquire the property located at 1445 11th Street in Waukegan, Illinois, leased to QXO. The subject property consists of approximately 82,500 square feet of warehouse space and is situated on 4.12 acres of land. The single-tenant asset features a clear height ranging between 12’ and 18’, three dock-high doors, two drive-in doors, a full sprinkler system, and 1.6 acres of fenced-in industrial outdoor storage space (IOS). Situated between Illinois Routes 131 and 137, the property conveniently sits north of the Great Lakes Naval Station with proximity to Interstate 94. In November 2025, QXO initiated a new 10-year lease on a triple-net basis at $3.56 per square foot with 3.0 percent annual escalations. QXO is the largest publicly traded distributor of roofing, waterproofing, and complementary building products in North America.
Investment highlights
• Single-Tenant 82,500-Square-Foot Industrial Facility on ±4.12 Acres
• Featuring Two Drive-In Doors, Three Docks, 12-18’ Clear Height, 1.6 Acres of Fenced-In IOS, and Full Sprinkler System
• Located Near Great Lakes Naval Station with Proximity to I-94
• New 10-Year Lease with QXO, Largest Publicly-Traded (NYSE: QXO) Roofing Supplies Distributor
• Outperforming North Lake Submarket: 5.7% Vacancy vs. 7.7% National Average
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