Rosemont, IL – March 29, 2023 – Venture One Real Estate through its acquisition fund, VK Industrial VI, LP, has closed on the acquisition of a 9.13-acre industrial service facility (ISF) located at 3200 S 70th Street in Philadelphia, Pennsylvania. At acquisition, the property was 55% leased to an airport parking operator. Venture One has retained Newmark on leasing the remaining 4.04 acres.
The 9.13-acre site features a 4,879 SF repair/maintenance facility equipped with 6 docks (expandable) and 1,870 SF of office space. It can accommodate over 250 trailers stalls and is located less than 2.9 miles from Philadelphia International Airport (PHL).
Ryan Guittare of Newmark represented the Seller in the transaction.
VK Industrial VI is co-sponsored by Venture One Real Estate and Kovitz Investment Group. The fully discretionary fund targets industrial acquisitions in the Chicago, Northeast and Florida markets.