Takeda expands footprint with lease of warehouse space at Innovation Park in Libertyville

Pharmaceutical giant Takeda is expanding its presence in Innovation Park, a life-sciences hub originally built as the Motorola campus in Libertyville.

The company, which has offices in the facility, recently signed a lease for 80,000 square feet of warehouse space at 1910 Innovation Way. The addition increases the company’s space to 106,000 square feet.

Takeda declined to comment on why the warehouse space was needed or why it was being leased. The company also operates a manufacturing site in Round Lake, which is an integral part of the company’s Plasma Network, according to a spokesperson.

The Round Lake facility employs 500.

In Libertyville, Takeda occupies 26,000 square feet of office space.

The expansion further positions Innovation Park as a premier research and development and life sciences hub, said Heather Rowe, the village’s community development director.

She said Takeda will benefit from Lake County’s high-quality employment base with experience in research and development and a talent pipeline supported by partnerships with the College of Lake County and Lake County Workforce Development.

Innovation Park on Route 45 south of Winchester Road was built by Motorola in the 1990s for manufacturing, office and distribution. It was the headquarters for Motorola Mobility and its Razr phone was built there.

The last 2,500 Motorola employees moved to Chicago in April 2014. Maryland-based developer BECO Management Inc. bought the property from Google Inc. shortly after.

Chicago-based R2 Companies, a development firm specializing in adaptive reuse projects including the Salt Shed and Chicago Board of Trade, acquired the property about a year ago.

“We buy real estate we think is irreplaceable,” said Zack Cupkovic, an R2 partner.

The sprawling campus has more than a million square feet of leasable space and is about 68% occupied, Cupkovic said. Innovation Park can accommodate lab, office and industrial users making it a “triple mixed-use,” he added.

The largest tenant is Sumitomo Chemical, according to Cupkovic. Other major tenants are Takeda, Intermatic, Bath Concepts and PPI Beauty, he added.

However, Medline Industries Inc., which occupies about 130,000 square feet, will be leaving in mid-2026 as it consolidates in new offices in Northbrook.

Takeda will be taking over space formerly used by Bristol Myers Squibb, which in 2023 announced it was expanding its global cell therapy manufacturing network in Libertyville but closed it last year.

Bristol Myers still leases 40,000 square feet of office space but is trying to sublease it, Cupkovic said.

Innovation Park is designed as a “village” for life science and R & D tenants that require specialty infrastructure, security and best-in-class amenities, according to its website.