CHICAGO - Venture One Real Estate, LLC, through its acquisition fund, VK Industrial I, LP, has closed on a 44,104 square foot industrial building at 2011 Swanson Court in Gurnee, Illinois.
The property was built in 1976 and added on to in 1988. It is a food grade distribution and production facility that is fully air conditioned and has land for expansion. Venture One purchased the building in a sale-leaseback transaction with Woodland Foods who signed a lease for the entire facility. Woodland Foods processes, packages and sells dry specialty foods to service distributers, food manufacturers, and retail outlets throughout North America. "Venture One worked quickly and was easy to do business with. We look forward to a long relationship with their company," said David Moore, the CEO of Woodland Foods.
Woodland Foods was represented by Sam Badger, Brad Weiner and Whit Heitman of Paine/Wetzel.
Venture One's VK Industrial fund has acquired 750,000 square feet of industrial property in 12 separate transactions in the Chicago market since opening in September of 2010.
Venture One Real Estate, LLC is a Chicago-based national commercial real estate company that acquires, develops, leases, and manages industrial and office properties on its own behalf and on behalf of investment partners. Venture One also provides real estate advisory services to buyers and sellers of investment properties and portfolios on a national basis.