9/12/13

Venture One Purchases 312,154 Square Foot Building in Chicago

Chicago – Venture One Real Estate, LLC in Partnership with DRA Advisors has closed on a 312,154 square foot industrial facility located at 2801 South Western Avenue in Chicago, Illinois. Venture One has plans to fully renovate the facility which is currently vacant.
The building offers a rare combination of modern industrial amenities for an infill City of Chicago location. It features 28’-30’ clear ceilings, 31 exterior loading docks, 5 acres of outside storage, direct rail access and freezer/cooler space. At 28th Street and Western Avenue the building is located in the heart of the industrial food corridor between Damen and California along I-55.

Sally Macoicz of Cushman and Wakefield represented the seller in the transaction. Sally Macoicz, Larry Goldwasser and Colin Green of Cushman and Wakefield will market the facility for Venture One.

“There is strong demand for high clear height, modern industrial real estate in the city, but in recent years there has been a lack of quality product available. With this project we have a combination of modern amenities in a premier Chicago infill location.” said Macoicz.

Venture One’s renovations will include the demolition of the interior truck court, façade enhancements, new energy efficient lights and new HVAC systems. The facility will be divisible to 75,000 square feet.

Venture One’s project team will include Keeley Construction as the general contractor, Jacob and Hefner for civil engineering, Pease Borst and Associates for structural engineering and Ware Malcomb for architectural services.

Venture One Real Estate

Venture One is a real estate private equity fund manager, developer and operating company specializing in the industrial property sector. Headquartered in Chicago, Venture One manages a series of discretionary value-add investment funds that target opportunities throughout the Chicago MSA and Northeast Industrial Region. Principals of Venture One have over $7 billion of transactional experience. For further information go to www.VentureOneRE.com.

DRA Advisors

DRA Advisors LLC was founded in 1986 and is a Registered Investment Advisor that specializes in real estate investment and management for institutional investors and manages $10 billion of assets. As of 9/30/17, DRA funds own 560 properties across the United States, including 39 million square feet of industrial, 30 million square feet of retail, 13 million square feet of office, and 13,000 multifamily units. DRA is headquartered in New York City, with regional offices in San Francisco and Miami. For more information, visit www.draadvisors.com.