ROSEMONT, IL – June 26, 2018 – Venture One Real Estate, in a joint venture with USAA Real Estate, today announced the groundbreaking of Rockwell Logistics Center, a 174,000 square foot, last mile urban logistics facility located at 2545 W. 24th Street, in the Southwest Pilsen neighborhood of Chicago, IL. The building is scheduled for delivery the first quarter of 2019.
Located in the North I-55 Industrial Corridor, Rockwell Logistics Center is less than 1.5 miles from I-55 and less than five miles from the Chicago Loop, offering immediate access to one of the densest population centers in the country. The modern facility will offer unparalleled functionality for its close-in location, such as 32’ clear height precast construction and 205’ loading courts able to accommodate excess trailer or car parking. Additionally, the building is located one-half mile from a CTA ‘EL’ train stop, offering excellent access to labor.
“We are excited to begin the development of this infill parcel,” said Ryan Stoller, principal at Venture One. “This facility will offer unmatched functionality for its ‘last-mile’ location and should appeal to users seeking the amenities of a modern facility without sacrificing drive time and access to the city population”.
Terry Grapenthin and Tim McCahill of Lee & Associates have been retained to market Rockwell Logistics Center on behalf of Venture One. For more information, please visit www.RockwellLogisticsCenter.com.
About USAA Real Estate
USAA Real Estate, with over $20 billion in assets under management, 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 6 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.