CHICAGO - Venture One Real Estate, LLC, through its acquisition fund, VK Industrial I, LP, has closed on two buildings totaling 64,664 square feet located at 140-162 Pinnacle Drive in Romeoville, Illinois.
The buildings, which were completed in 2008, are located in the Pinnacle Business Center. The spaces have never been occupied. The project was originally developed as industrial condos, and will be marketed for both lease and sale. Contiguous spaces range from 3,700 square feet up to 33,800 square feet. The buildings' functional design features an exterior truck dock and drive-in-door per 10,000 square feet, 20' ceiling height, and depth of 120 feet.
Venture One has retained Adam Tarantur and John Homsher, CCIM of Podolsky Northstar to market the units for sale and lease. According to Tarantur, there is a lack of quality space for small to mid-size industrial users offering this combination of loading, clear height and building depth in the I-55 corridor. He believes that the new ownership will be price competitive as compared to the market.
Venture One's VK Industrial fund has 1 million million square feet of industrial property in 14 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.