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 28,011-square-foot industrial building on 1.94 acres. Located at 5540 Meadowbrook Court in Rolling Meadows, Illinois, the property was vacant at acquisition.
The 19-foot clear height masonry building was constructed in 1987 and is equipped two docks, one drive-in door, 43 car parking stalls and is fully air conditioned. Venture One plans to complete renovations including updating the office space, painting the warehouse, repaving the parking lot and replacing the roof.
Vern Schultz and Kelly Joyce of Colliers International represented the seller in the transaction and will be retained by Venture One to market the property for sale or lease.