Rosemont, IL – April 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 62,934 square-foot industrial building located at 5300 Newport Drive in Rolling Meadows, Illinois. The property was vacant at the time of acquisition.
The single-tenant building sits on 4.42-acres of land. The building features 2 docks, 4 oversized drive-in doors, parking for 72 cars and can accommodate over 16 trailer positions. The property will have a Class 6B tax incentive. Venture One’s planned make ready improvements include demolition, office renovations, new HVAC, parking lot seal replacement, energy efficient warehouse lights, landscaping, and roof replacement.
Jonathan Kohn, Ned Frank and Pat Hake of Colliers International represented the Seller in the transaction and will be retained to market the property for Venture One.