Venture One Real Estate, through its acquisition fund, VK Industrial VII, LP, closed on the acquisition of a 42,224-square-foot industrial building at 7777 Merrimac Ave. in Niles, Illinois.
The single-tenant property was 100% leased at closing.
The building was constructed in 1964 and sits on 2.40 acres of land. It features 2 docks, is fully air-conditioned and has parking for over 89 cars.
Bill Lussow of Bespoke Commercial Real Estate represented the seller.
VK Industrial VII is co-sponsored by Venture One Real Estate and Kovitz Investment Group. The fully discretionary fund targets industrial acquisitions in the Chicago, Northeast and Florida markets.
