Rosemont, IL – November 29, 2022 – Venture One Real Estate through its acquisition fund, VK Industrial VI, LP, a partnership between Venture One and Kovitz Investment Group, has closed on the acquisition of a 35,033 square foot cold storage facility located at 105 Sea Lane in Farmingdale, New York. The property is fully leased to one tenant.
The precast building was constructed in 1989 and features 22’ clear height, 9 exterior docks and 1 drive-in door. The facility includes approximately 10,000 SF of cold storage. 105 Sea Lane has direct access to I-495 (Long Island Expressway) via Broadhollow Road (Route 110).
The acquisition is Venture One’s seventh on Long Island in the past 12 months. Venture One recently broke ground on two Class A speculative logistics facilities in Suffolk County located at 49 Wireless Boulevard in Hauppauge, New York (VENTURE PARK HAUPPAUGE) and 2950 Veterans Memorial Highway in Bohemia, New York (VENTURE PARK ISP).
Marc Duval, Jordan Avanzato and Nicholas Stefans of Jones Lang LaSalle represented the Seller in transaction.