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 50,098 square foot, two-building industrial portfolio located at 2450 Pan Am Boulevard and 2690 American Lane in Elk Grove Village, Illinois. Terms of the transaction were not disclosed.
Daniel Vanchieri and John McDermott of SVN Chicago Commercial represented the seller in the transaction. Justin Lerner, Joe Karmin and Ross Lehrman of Transwestern represented Venture One and will be retained the market the properties.
2450 Pan Am Boulevard is a 25,260-square-foot, multi-tenant industrial building that was constructed in 1968. The fully leased building is demised into five units, each equipped with one exterior dock and existing office.
2690 American Lane is a 24,838-square-foot, multi-tenant industrial building that was constructed in 1968. The fully leased building features five exterior docks and one drive-in door.