Rosemont, IL – December 4, 2019 – 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 50,993 square foot industrial building on 5.6 acres located at 1200 Airport Road in North Brunswick, New Jersey. The multi-tenant building is fully leased to three tenants.
The 19’ clear height building was constructed in 1987 and is equipped with 7 exterior docks, 3 drive-in doors and parking for 86 cars.
Todd Minerley, Market Officer for the Northeast Region stated, “We are excited to kick-off our acquisition platform in the New Jersey market with the purchase of 1200 Airport Road. The building’s infill location and functionality fall right in line with our core acquisition strategy. We will continue expand our New Jersey portfolio through similar one-off transactions as well as portfolio acquisitions.”
Gary Politi and Joel Lubin of Jones Lang LaSalle represented the Seller in the transaction.
1200 Airport Road is the first acquisition within Venture One’s VK Industrial V, LP. The $112 million fund is the fifth in a series of discretionary funds managed by a partnership of Venture One Real Estate and Kovitz Investment Group. VK Industrial V, LP will continue the successful investment strategy of the previous funds, targeting industrial real estate investments in the central and eastern regions.