Rosemont, IL – January 6, 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 72,045 square foot, 2-building industrial portfolio located at 26 Law Drive and 27 Law Drive in Fairfield, New Jersey. The portfolio is fully leased to five tenants.
26 Law Drive is a 46,536 square foot multi-tenant industrial building that was constructed in 1981. The 22’ clear height precast building is demised into four units, each equipped with one exterior dock and existing office. The property has a wet sprinkler system and parking for 107 cars.
27 Law Drive is a 25,509 square foot single-tenant industrial building that was constructed in 1980. The precast building sits on 1.60 acres of land and features 20’ clear height, 4 exterior docks and parking for 69 cars.
The transaction marks Venture One’s second acquisition in Fairfield in past six months. In early August, Venture One closed on a 107,107 square-foot industrial building located at 116 Lehigh Drive in Fairfield, New Jersey.
Thomas Atler of Graham Realty Group, LLC. represented the Seller in the transaction.