Rosemont, IL – January 4, 2022 – 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 4.00-acre industrial outdoor storage (IOS) site located at 2720 Bartram Road in Bristol, Pennsylvania. After a short leasebIack with the Seller, the property will be marketed for lease.
The 4.00-acre site is equipped with a 12,117 square foot truck repair/maintenance facility which features 2 docks, 2 drive-in repair bays and 3,924 square feet of existing office. The property has over 550’ of frontage on I-95 and can accommodate over 95 trailer positions or 200 delivery vans. Venture One plans to complete make ready improvements including office renovations, warehouse paint and lights, façade enhancements, and updated dock packages.
The acquisition marks Venture One’s third industrial outdoor storage (IOS) acquisition in the Philadelphia MSA in the past 12 months. “We believe in the long-term growth and strength of the Philadelphia market for industrial investment and development, as well as industrial outdoor storage and logistics assets. We will continue to aggressively pursue opportunities in the market,” said Brian McDonagh, Vice President of the Northeast Region for Venture One.
Joseph Kassin, Joseph Ash, and Steven Pollan of Kassin Sabbagh Realty represented Venture One in the transaction.