Venture One Real Estate—through its acquisition fund, VK Industrial V, LP, a partnership between Venture One and Kovitz Investment Group—has closed on the acquisition of a 126,086-square-foot, four-building industrial portfolio in Bensenville and Schaumburg, Illinois. Terms of the transaction were not disclosed.
The properties are located at 401 Eastern Avenue, 501 Eastern Avenue and 1231 Ellis Street in Bensenville and 635 Remington Road in Schaumburg. The portfolio is 92 percent leased to seven tenants.
The portfolio consists of three fully leased, single-tenant assets in the coveted DuPage County side of the O’Hare submarket. The properties’ amenities include heavy car parking, heavy power, air-conditioned warehouse space and good loading.
Currently 82 percent leased, 635 Remington is a functional multi-tenant building located less than two miles from the intersection of I-90 and I-53 in Schaumburg. Venture One will complete make-ready improvements to the 9,507-square-foot vacant space, including demolition of extra office space, paint, carpet and new lighting.
Eric Fischer of Cushman & Wakefield represented the seller in the transaction and will be retained by Venture One to market the vacancy.
