ROSEMONT, IL – June 12, 2019 – Venture One Real Estate through its acquisition fund, VK Industrial IV, LP, a partnership between Venture One and Kovitz Investment Group, has closed on the acquisition of a 82,242 square foot, 2-building industrial portfolio located at 1200 Karl Court and 1210 Karl Court in Wauconda, Illinois. Both properties were vacant at acquisition.
1200 Karl Court features 21’ clear height, 3 exterior docks, 1 drive-in door and parking for 48 cars. The 32,202 square foot single tenant building is equipped with an ESFR sprinkler system, LED lighting and 4,434 square feet of office space.
1210 Karl Court features 28’ clear height, 8 exterior docks, 2 drive-in doors and parking for 88 cars. The 50,040 square foot building is demised into a 35,040 square foot unit and 15,000 square foot unit. The building is equipped with an ESFR sprinkler system, LED lighting and 8,878 square feet of office space.
Ned Frank and Pat Hake of Colliers International represented the seller in the transaction and will be retained by Venture One to market the properties for sale or lease.
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.