Venture One Announces Leasing and Acquisitions at Romeoville Project

Chicago – Venture One Real Estate, LLC, recently announced 36,244 square feet of leasing as well as the acquisition of two condos totaling 16,362 square feet at its 140-162 Pinnacle Drive Property in Romeoville, Illinois.
In March of 2012 Venture One purchased the remaining unsold industrial condominiums at the Pinnacle Drive property which totaled 64,222 square feet of the 80,584 total square feet in the two building development. Since the initial purchase Venture One purchased a 7,510 square foot unit that is leased and completed an 8,852 square foot sale leaseback with Drytac Corporation. Venture One has subsequently dissolved the condo association and converted the property to fee simple ownership.

A 17,875 square foot lease was signed with Concept Communications Company, a national distributor of products used by convenience stores, service stations, car washes and truck stops. The tenant was represented by Grant Glattly.

A 9,517 square foot lease was executed with Pharmacy Automation Supplies. Pharmacy Automation was represented by Terry Grapenthin and Josh Hearne of Cawley Chicago Commercial Real Estate Company. Venture One was represented by Adam Tarantur and John Homsher of Podolsky Northstar in the two lease transactions.

The property is currently 55% leased and has availabilities ranging from 4,000 square feet to 36,000 square feet. The available spaces feature 20’ clear ceilings, 1 dock and drive in door per 8,000 square feet, and office to suit.

Venture One Real Estate

Venture One 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 Chicago MSA and Northeast Industrial Region. Principals of Venture One have over $7 billion of transactional experience. For further information go to www.VentureOneRE.com.