Rosemont, IL – Venture One Real Estate in partnership with DRA Advisors has closed on the acquisition of a 574,249 square foot distribution building located at 6515 Ameriplex Drive in Portage, IN. Built in 2009, the 32’ clear, Class A facility features a cross dock configuration, 84 docks, trailer parking, ESFR and modern T5 lighting. The building is currently 40% leased to a logistics tenant that executed a lease just prior to closing and is relocating from a facility in Elwood, IL.
Ryan Stoller, Principal at Venture One, stated, “This was a great opportunity to acquire a best-in-class asset in a market that continues to gain momentum as an alternative to Illinois for industrial users looking to capitalize on NW Indiana’s favorable business climate and access to four major interstate highways. The remaining 341,000 square feet of vacancy is positioned to compete for tenants looking for a low cost, highly functional option in the NW Indiana market”.
This is Venture One’s third asset in the NW Indiana submarket, bringing their footprint to over 1.2M square feet in the submarket and over 5.3M square feet in the Chicagoland area.
Venture One Real Estate 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 Midwest and owns over 5.5 million square feet and controls over 1,100 acres of land in corporate business parks in the greater Chicagoland area. Principals of Venture One have over $6 billion of transactional experience. For further information go to www.ventureonere.com.