Rosemont, IL – August 20, 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 171,022 square foot, 2-building industrial portfolio located at 76 Bradrock Drive and 31 E Oakton Street in Des Plaines, Illinois. Both properties were vacant at acquisition.
76 Bradrock Drive sits on 3.81 acres of land and features 20.5’ clear height, 6 docks and 1 drive-in door. The 100,306 square foot single tenant building is equipped with a wet sprinkler system and parking for 86 cars.
31 E Oakton Drive sits on 2.54 acres and features 24’ clear height, 4 docks and 1 drive-in door. The 70,716 square foot single tenant building is equipped with 8,490 square feet of office space and parking for 99 cars.
Prior to closing, Venture One received a 6B tax incentive for the properties. Venture One plans to complete make ready improvements including façade enhancements, office renovations, warehouse paint and lights and sealcoating the parking lots.
Jack Rosenberg and Ned Frank 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.