Rosemont, IL – April 4, 2022 – 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 62,934 square-foot industrial building located at 5300 Newport Drive in Rolling Meadows, Illinois. The property was vacant at the time of acquisition.
The single-tenant building sits on 4.42-acres of land. The building features 2 docks, 4 oversized drive-in doors, parking for 72 cars and can accommodate over 16 trailer positions. The property will have a Class 6B tax incentive. Venture One’s planned make ready improvements include demolition, office renovations, new HVAC, parking lot seal replacement, energy efficient warehouse lights, landscaping, and roof replacement.
Jonathan Kohn, Ned Frank and Pat Hake of Colliers International represented the Seller in the transaction and will be retained to market the property for Venture One.
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. 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.