Venture One Real Estate through its acquisition fund VK Industrial VI, LP has closed on the acquisition of a 785,181-square-foot two-building industrial portfolio at 609 S. Kirk Road and 1750 Wallace Ave. in the Chicago suburb of St. Charles, Illinois.
The acquisition was a sale-leaseback.
609 Kirk Road is a 504,152-square-foot industrial building that was constructed in 1988. The 30’ clear, precast building is equipped with 45 docks, 3 drive-in doors and an ESFR sprinkler system. Additionally, the property is partially air-conditioned in the warehouse area.
1750 Wallace Avenue is a 281,029-square-foot industrial building that was constructed in 1990. The 21’-31’ clear, precast building is equipped with 15 exterior docks and 1 drive-in door. Additionally, approximately 80,000 SF of the warehouse area is air-conditioned.
Mike Tenteris, Jim Carpenter, Adam Tyler, Scott Goldman and David Friedland of Cushman & Wakefield represented the Seller in the transaction.
VK Industrial VI 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.
