VENTURE ONE ACQUIRES 21,790 SQUARE FOOT BUILDING IN GURNEE, ILLINOIS
ROSEMONT, IL – March 16, 2016 – Venture One Real Estate through its acquisition fund, VK Industrial III, LP has closed on the acquisition of a 21,790 square foot vacant industrial building located at 65 Ambrogio in Drive in Gurnee, Illinois.
The single tenant property is located on a 1.4 acre site and is located at the Washington Street interchange along Skokie Highway. Amenities of the building include two docks, one drive-in door, 18’ clear height, and 3,456 square feet of high-image first and second story office. The building and parking areas can be expanded.
Venture One plans to extensively renovate the property on a speculative basis. Upgrades include comprehensive office renovations, new energy efficient warehouse lighting, warehouse paint, and resurfacing the parking lot.
David Liebman of Merit Partners represented the seller in the transaction.
Ryan Bain, Zach Graham, and Thomas Harmon have been hired to market the property for lease or sale.
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 to www.VentureOneRE.com.