Venture One Real Estate through its acquisition fund VK Industrial VII, LP closed on the acquisition of a 67,565-square-foot freezer/cooler building at 601 Wall St. in Glendale Heights, Illinois.
The property was 100% leased at closing.
Situated in the High Grove Business Park within Glendale Heights, the building offers direct access to I-355 via Army Trail Road. The precast building was constructed in 1991 and expanded in 2005. It features clear heights ranging from 22’- 37’, 10 exterior docks, four drive-in doors, and parking for 10 trailers. The facility includes 38,087 square feet of freezer with glycol floors, 16,139 square feet of production space, and 3,594 square feet of cold docks.
The acquisition marks Venture One’s second cold storage acquisition in the last month, following the recent closing of 18501 Northstar Court in Tinley Park, IL Will McCormack and John Huguenard of JLL Capital Markets 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.
