Rosemont, IL – November 15, 2021 – Venture One Real Estate through its acquisition fund, VK Industrial V, LP, a partnership between Venture One and Kovitz Investment Group, has closed on the acquisition of a 30,166 square-foot industrial building located at 770 Commercial Avenue in Carlstadt, New Jersey. After a short leaseback with the Seller, the property will be marketed for lease.
The 30,166 square foot industrial building features 4 docks, 1 drive-in door and a 150’+ truck court. The property is equipped with 1,866 square feet of office and can accommodate 9 trailer positions. Venture One plans to complete make ready improvements including office rehab, warehouse paint and lights, façade enhancements, replacement the roof and a new parking lot. The building is located less than 3.5 miles from I-95 and 8.2 miles from Manhattan with direct access via the George Washington Bridge and Lincoln Tunnel.
Frank Gunsberg and Noah Balanoff of Colliers International represented the Seller in the transaction and will be retained by Venture One to market the property.