Venture One Real Estate has closed on the acquisition of a 736,000-square-foot, 18-building portfolio located in the Yorkbrook Business Park in Lombard, Illinois.
The portfolio includes 12 industrial properties and six flex office properties, with an overall occupancy of approximately 91 percent. The properties, which range from 3,600 square feet to 72,000 square feet, are a mixture of both single and multi-tenant properties.
The firm plans to update and refresh the properties with improvements like resurfacing the parking lots, masonry repairs, roof replacements, façade enhancements and improved signage.Venture One intends to renovate the eleven vacant units on a speculative basis including new paint and carpet in the office, energy efficient lighting upgrades, new bathroom fixtures, and warehouse paint.Michael Caprile, Ted Staszak, Stephanie Park and Kate Dougherty of CBRE represented the Seller in the transaction.
Sean Henrick and Joseph Gatto of Cushman & Wakefield have been retained by Venture One to market the industrial properties.
Michael Simpson and Connor Lund of Cushman & Wakefield have been retained by Venture One to market the flex office properties.