Venture One Real Estate LLC, through its acquisition fund, VK Industrial I LP, has closed on a 146,959-square-foot building at 3940 Stern Road in St. Charles.
The property was built in 1987. It features 7,668 square feet of corporate offices, 16 truck level docks and a 3,000 amp power service. Venture One purchased the building in a sale-leaseback transaction with Colony Inc., which signed a lease for the entire facility. Colony designs, manufactures and delivers fixtures and point-of-sale products for national retail chains in the U.S.
The seller was represented by Nick Eboli, John Sharpe and Mike Androwich of Lee & Associates of Illinois. VK was represented by Shaun Burke of H and B Realty.
Venture One’s VK Industrial fund has acquired more than 822,000 square feet of industrial property in 13 separate transactions in the Chicago market since opening in September of 2010.
“Over the past 16 months we have been actively expanding our industrial portfolio through acquisitions in the Chicago market. We continue to find opportunities that meet our investment criteria and plan on expanding at a similar pace in 2012,” said Matt Goode, a principal at Venture One.