Rosemont, IL – November 15, 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 30,166 square-foot industrial building located at 770 Commercial Avenue in Carlstadt, New Jersey. After a short leaseback with the Seller, the property will be marketed for lease.
The 30,166 square foot industrial building features 4 docks, 1 drive-in door and a 150’+ truck court. The property is equipped with 1,866 square feet of office and can accommodate 9 trailer positions. Venture One plans to complete make ready improvements including office rehab, warehouse paint and lights, façade enhancements, replacement the roof and a new parking lot. The building is located less than 3.5 miles from I-95 and 8.2 miles from Manhattan with direct access via the George Washington Bridge and Lincoln Tunnel.
Frank Gunsberg and Noah Balanoff of Colliers International represented the Seller in the transaction and will be retained by Venture One to market the property.
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.