Chicago – Venture One Real Estate, LLC, through its acquisition fund, VK Industrial I, LP, has closed on two industrial buildings totaling 240,300 square feet. The properties, located and 5612 95th Street in Kenosha, WI and 2075-2185 Estes in Elk Grove Village, were both purchased in December in separate transactions.
5612 95th Street is a 160,300 SF facility which features 93,485 SF of 32′ clear, high bay warehouse space, 59,511 SF of 21′ clear production area and 7,304 SF of office. The high image facility sits on a 14.23 acre site and has 5 acres of extra land for parking, storage or building expansion. It has 11 exterior loading docks (expandable), 7,500 amp power service, and 359 car parking spaces.
Venture One will be renovating the facility and marketing it for both lease and sale. Renovations will include exterior paint and façade enhancements, new energy efficient lights, new dock equipment, interior paint and new office flooring.
Matthew Stauber and Fred Regnery of Colliers International represented the Seller and will be retained by Venture One to continue marketing the facility.
2075-2185 Estes is an 80,000 SF facility located in the Centex Industrial Park in Elk Grove Village. There are six units ranging from 10,000 SF to 15,000 SF. All but one 10,000 SF unit are currently leased. All units in the building have at least 1 dock and drive in door, 18′ clear ceilings, and the building has a total of 100 parking spaces.
Robert DeSalvo of Sierra Realty Services, Inc. represented the Seller and will be retained by Venture One to continue marketing the facility.