Venture One Real Estate through its acquisition fund, VK Industrial III, LP, has closed on a single tenant, 116,606-square-foot industrial building in Meridian Business in Aurora, Illinois.
The building was purchased from Shorr Packaging, who will be leasing it back from Venture One through the spring of 2016 while completing a new build-to-suit.
The building was built on 8.5 acres, leaving three acres for up to a 60,000-square-foot addition. The building features 25,000 square-feet of high end open office, 26′ ceilings, ESFR sprinklers, 10 loading docks (expandable), and a 1200 amp power service with a backup generator.
Trevor Ragsdale of JLL represented the seller in the transaction and has been retained by Venture One to market the property.
Venture One’s VK Industrial funds have acquired over 5,000,000 square feet of industrial property in over 50 separate transactions in the Chicago market since opening in September of 2010.
