Rosemont, IL – November 11, 2020 – 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 an 30,300 square foot industrial building located at 178 Commerce Road in in Carlstadt, New Jersey. The property was vacant at acquisition.
The single tenant building was constructed in 1968 and sits on 1.40 acres of land. It has 2 exterior docks, 1 drive-in door, 25 car parking and approximately 2,500 square feet of office. Venture One’s planned improvements include, a roof replacement, parking lot overlay, façade enhancements and demolition. Additionally, Venture One will renovate the office, paint the warehouse, and install LED lighting.
Richard Abdy of Emily Abdy Realty Group represented the Seller in the transaction and will be retained by Venture One to market the property.