Two-Bldg. Industrial Portfolio Trades to Venture One
Venture One Real Estate has closed on the acquisition of a 160,012-square-foot, two-building industrial portfolio in Naperville and Elk Grove Village, IL. Deal terms were not disclosed. Venture One made the purchase through its acquisition fund, VK Industrial IV LP, a partnership with Kovitz Investment Group.
The single-tenant 1020 Frontenac Rd. is 100% leased. The 99,773-square-foot building is equipped with 2,000 amps of power, wet sprinkler system and 9,794 square feet of office space.
The 60,239-square-foot 1850 Greenleaf Ave. in Elk Grove Village (pictured) was vacant at acquisition. Prior to closing, Venture One received a 6B tax incentive for the property and plans to complete make-ready improvements.
CBRE’s Jason Lev, John Suerth and Jimmy Kowalczyk represented the seller in the transaction, and will be retained by Venture One to market 1850 Greenleaf.
For comments, questions or concerns, please contact Paul Bubny