Rosemont, IL – April 30, 2021 – 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 17 acre, fully lit and secured industrial outdoor storage (IOS) facility located at 6501 Essington Avenue in Philadelphia, Pennsylvania. The property was fully leased at acquisition.
The 17 acre site features a 6,575 SF freestanding office building and a 34,520 SF repair/maintenance facility equipped with 15 drive-in repair bays and floor drains. The site can accommodate over 475 trailers, 1,050 sprinter vans, fleet maintenance, and outdoor storage. It is located less than 3 miles from Philadelphia International Airport (PHL), 6 miles from Center City Philadelphia and has direct access to I-95 and I-76 via Essington Avenue.
Chris Pennington of Binswanger represented the Seller in the Transaction.
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 greater Chicago and New Jersey regions. Principals of Venture One have over $7 billion of transactional experience. For further information go to www.VentureOneRE.com.
Kovitz Investment Group
Kovitz Investment Group® (KIG), is an independently-managed, registered investment adviser, founded in 2003. KIG is dedicated to providing best-in-class investment and wealth management solutions for high net worth individuals and their families, family offices, institutions, and financial professionals. For more information, please visit www.Kovitz.com.