Venture One Real Estate through its acquisition fund, VK Industrial IV, LP, a partnership between Venture One and Kovitz Investment Group, has closed on the acquisition of a 34,812 square foot industrial building located at 504 Glenn Avenue in Wheeling, Illinois. The acquisition was a sale-leaseback with seller, who consolidated into the southern third of the building. Simultaneously, a lease was signed with a new tenant for the remaining 23,183 SF of the building.
The masonry building features 18’ clear height, 3 exterior docks, 3 drive-in doors, and parking for 72 cars. The property is equipped with T-8 lighting, wet sprinkler system, and 4,365 SF of office space.
Denise Chaimovitz of Paine Wetzel represented the Seller in the transaction. Venture One was represented by Tom Rodeno and Pat Turner of Colliers International.
Venture One Real Estate
Venture One Real Estate is a real estate private equity fund manager, developer and operating company specializing in the industrial property sector. Headquartered in Chicago, Venture One manages a series of discretionary value-add investment funds that target opportunities throughout the Midwest. Venture One owns over 5.3 million square feet and controls over 1,100 acres of land in corporate business parks in the greater Chicagoland area. Principals of Venture One have over $6 billion of transactional experience. For further information go towww.VentureOneRE.com.
Kovitz Investment Group
Kovitz Investment Group® (KIG), is an independently-managed, registered investment adviser, founded in 2003. KIG is dedicated to providing best-in-class investment and wealth management solutions for high net worth individuals and their families, family offices, institutions, and financial professionals. For more information, please visit www.Kovitz.com.