Chicago – Venture One Real Estate, LLC, through its acquisition fund, VK Industrial I, LP, has closed on a 146,959 square footimagebuilding at 3940 Stern Road in St. Charles, IL. The property was built in 1987. It features 7,668 of corporate offices, 16 truck level docks and a 3,000 amp power service. Venture One purchased the building in a sale-leaseback transaction with Colony Inc. who signed a lease for the entire facility. Colony designs, manufactures and delivers fixtures and point-of-sale products for many of the leading national retail chains in the US.
The seller was represented by Nick Eboli, John Sharpe and Mike Androwich of Lee & Associates of Illinois. VK was represented by Shaun Burke of H and B Realty.
Venture One’s VK Industrial fund has acquired over 822,000 square feet of industrial property in 13 separate transactions in the Chicago market since opening in September of 2010. “Over the past 16 months we have been actively expanding our industrial portfolio through acquisitions in the Chicago market. We continue to find opportunities that meet our investment criteria and plan on expanding at a similar pace in 2012,” said Matt Goode, a Principal at Venture One.