Chicago – Venture One Real Estate, LLC, has closed on a 59,588 SF industrial facility, located at 4909 70th Avenue in Kenosha, WI, announced Mark Goode, SIOR, Principal of the Chicago-based real estate investment and development firm. The building is fully leased to Pneumatech Inc., a world leader in compressed air system engineering and a subsidiary of Stockholm, Sweden-based Atlas Copco AB, a leading global provider of industrial productivity solutions.
The facility, built in phases beginning in 1989, is located within the Kenosha Industrial Park on 10.88 acres just east of the Kenosha Regional Airport and three miles east of the full four-way interchange at I-94 and 52nd Street. The building has 8,040 SF of modern office space, clear height of 18’ to 24’, parking for more than 150 cars, outside storage, T-5 energy-efficient lighting in the warehouse, heavy power, and land for expansion up to an additional 100,000 SF.
Venture One was represented in the transaction by David Lange, CCIM, Principal of Commercial Investment Partners LLC, based in Hartland, WI. The seller, Brookfield, WI-based PT Enterprises, was represented by broker, Rob Pitts, with Kenosha, WI-based Pitts Brothers & Associates, LLC.
“We want to acquire well-located, functional real estate in infill or growing submarkets of Chicago and Southeastern Wisconsin. Our investment platform is focused on location, functionality, and price-per-square-foot. The Kenosha acquisition met all of our criteria,” said Goode. “There is an opportunity for well-capitalized buyers to take advantage of the current uncertainty in the commercial real estate markets. We plan to expand our industrial portfolio in the coming 12 to 36 months either through one-off transactions, such as this one, or through portfolio acquisitions.”