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 34,812-square-foot industrial building located at 504 Glenn Avenue in Wheeling, Illinois. The acquisition was a sale-leaseback with seller, who consolidated into the southern third of the building. Simultaneously, a lease was signed with a new tenant for the remaining 23,183 square feet of the building.
The masonry building features 18-foot clear height, three exterior docks, three drive-in doors and parking for 72 cars. The property is equipped with T-8 lighting, wet sprinkler system and 4,365 square feet of office space. Denise Chaimovitz of Paine Wetzel represented the seller in the transaction. Venture One was represented by Tom Rodeno and Pat Turner of Colliers International.