CHICAGO - Venture One Real Estate, LLC negotiated an investment sale of a 225,000 square foot industrial building located at 3310 William Richardson Court, South Bend, Indiana announced Roy L. Splansky, SIOR, Principal of Chicago-based Venture One Real Estate.
Splansky represented the seller, an investment group based in New York. The buyer, STAG Industrial, Inc. (NYSE: STAG), is a self-administered and self-managed full-service real estate company based in Boston. Assisting in the sale was Ross Miller, SIOR, partner with FM Stone Commercial based in Elkhart, Indiana.
"The sale represents the improving investment market for quality leased industrial real estate in secondary markets" says Splansky.
The building is a warehouse and distribution building leased to Cequent Consumer Products. It was constructed in 1994 and expanded in 1995, has 24 truck docks and parking for 154 cars.
Cequent, a wholly owned subsidiary of TriMas Corporation (NASDAQ: TRS), is an operating group that is a leading designer, manufacturer and marketer of a broad range of accessories for light trucks, sport utility vehicles, recreation vehicles, passenger cars and trailers of all types. Cequent has manufacturing operations in Goshen, Indiana, less than 30 miles from the South Bend building.
Venture One Real Estate, LLC, is a Chicago-based national commercial real estate company that invests, owns and develops industrial buildings and land and provides advisory and investment-sale marketing services to third parties across the country.