ROSEMONT, IL – October 15, 2019 – Venture One Real Estate, in a joint venture with USAA Real Estate, today announced the groundbreaking of One North Ave, a 151,200 square foot, infill logistics facility located at 1 North Avenue, in Glendale Heights, IL. The building is scheduled for delivery the second quarter of 2020.
Located in the North DuPage submarket, One North Ave is less than three miles from the I-355 and North Avenue four-way interchange and has over 800 feet of frontage on North Ave, offering immediate access to two of Chicago’s primary East/West and North/South corridors. With the ability to demise down to 30,000 square feet, this modern facility will offer functionality for tenants with a smaller footprint that have previously been restricted to inefficient, second-generation buildings within the North DuPage submarket. The precast facility will feature 32’ clear height, 56’ x 50’ bays, 130’ truck courts and access off North Ave at a lighted interchange.
“We are excited to begin the development of this infill parcel,” said Ryan Stoller, principal at Venture One. “With vacancy in the North DuPage submarket at an all-time low of 3.49%, we believe there is pent-up demand for modern, functional space that can be demised to smaller units.”
Brian Kling and Reed Adler of Colliers International have been retained to market One North Ave on behalf of Venture One and USAA Real Estate. For more information, please visit www.OneNorthAve.com.
About USAA Real Estate
USAA Real Estate provides co-investment, acquisition, build-to-suit and development services for corporate and institutional investors and arranges commercial mortgage loans on behalf of affiliates. The portfolio consists of office, industrial/logistics, multifamily, retail and hospitality properties. USAA Real Estate is a subsidiary of USAA, a leading financial services company, serving military families since 1922. For more information, please visit www.usrealco.com.
About Venture One Real Estate
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, owns and manages over 10 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 more information, visit www.VentureOneRE.com.