CHICAGO, IL – Venture One Real Estate through its acquisition fund, VK Industrial III, LP, has closed on a single tenant, 116,606 square foot industrial building in the prestigious Meridian Business in Aurora, Illinois. The building was purchased from Shorr Packaging who will be leasing it back from Venture One through the spring of 2016 while completing a new build-to-suit.
The building was built on 8.5 acres, leaving three acres for up to a 60,000 square foot addition. The building features 25,000 SF of high end open office, 26’ ceilings, ESFR sprinklers, 10 loading docks (expandable), and a 1200 amp power service with a backup generator.
Trevor Ragsdale of JLL represented the seller in the transaction and has been retained by Venture One to market the property.
“This building offers a unique set of amenities that are difficult to find in today’s market. The combination of 25,000 square feet of high end office, three acres of expansion land, situated in a Class-A business park make the building extremely attractive for companies looking for a high-image, headquarters location,” said Ragsdale. “We are already seeing strong interest from users in the market today.”
Venture One’s VK Industrial funds have acquired over 5,000,000 square feet of industrial property in over 50 separate transactions in the Chicago market since opening in September of 2010.
Venture One Real Estate, LLC is a Chicago-based national commercial real estate company that acquires, develops, leases, and manages industrial properties on its own behalf and on behalf of investment partners. Venture One also provides real estate advisory services to buyers and sellers of investment properties and portfolios on a national basis.