DRA Advisors, Venture One JV Buys Industrial Building in Joliet

A panrtnership of Venture One Real Estate and DRA Advisors recently aqcuired a 624,654-square-foot industrial building at 2700 Ellis Drive in Joliet, Illinois. The property was vacant at the time of acquisition, reported the Chicago Business Journal.

Colliers’ Jeff Devine, Steve Disse and Tyler Ziebel represented the seller in the transaction. Traci Payette, Jeff Kapcheck, and Rowan McDonnell of CBRE have been hired to market the property.

The building was built in 2006 and sits on 52.25-acres of land. The highly amenitized property features 30’ clear height, 63 exterior docks (expandable), 17 drive-in doors, and a 13-acre paved and secured lot that can accommodate more than 500 trailer stalls. The Property is equipped with 16,000-amps of power and is fully air-conditioned. Upon closing on the Property, Venture One will construct 2,500 square feet of office space.

The building was acquired in a partnership of Venture One’s acquisition fund, VK Industrial VII, and a Fund managed by DRA Advisors. The Venture One acquisition fund, VK Industrial VII is co-sponsored by Venture One Real Estate and Kovitz Investment Group. The fully discretionary VK Industrial VII fund targets industrial acquisitions in the Chicago, Northeast, and Florida markets.