Venture One Acquires 22,352 Sq Ft Industrial Building in Queens
Deal News | Nov 12, 2024 | Venture One Real Estate LLC
Venture One Real Estate LLC, through its acquisition fund VK Industrial VII, LP, has successfully acquired a 22,352 square foot industrial building situated at 61-26 Maurice Avenue in Maspeth, Queens, New York. This acquisition is part of Venture One's strategic real estate expansion efforts. The site, characterized by its advantageous logistics with proximity to Manhattan, features a single-tenant building with modern infrastructure, including a 20-foot clear height, multiple loading docks, and a robust power supply. Venture One plans to enhance the facility's allure with significant improvements, such as upgrading the facade, applying new interior paint, and installing energy-efficient LED lighting. The property is available for lease, with occupancy expected in early 2025. Real estate representatives from JLL and Pinnacle Realty facilitated the transaction, with JLL continuing to market the property for lease.
Sectors
- Real Estate
- Industrial
Geography
- United States – The industrial building is located in Maspeth, Queens, New York, within the United States.
- New York – The acquisition is located in Maspeth, Queens, New York, highlighting the regional focus of the transaction.
Industry
- Real Estate – The acquisition and leasing of industrial property is a core activity within the real estate industry.
- Industrial – The property acquired is an industrial building, indicating the industrial market's relevance to this transaction.
Financials
- 22,352 square feet – The size of the industrial building acquired.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Venture One Real Estate LLC | Buyer | Company | A private equity real estate firm involved in the acquisition of industrial properties. |
| VK Industrial VII, LP | Acquisition Fund | Company | Venture One's acquisition fund used in this transaction. |
| Seller | Vendor | Company | The current vendor of the industrial property. |
| JLL | Legal Advisor/Leasing Agent | Company | Real estate services firm representing Venture One in the transaction and leasing. |
| Pinnacle Realty | Legal Advisor | Company | Realty firm representing the seller in the transaction. |
| Dan Morici | Representative | Person | A representative from JLL involved in the transaction. |
| Paul Bralower | Representative | Person | A representative from Pinnacle Realty involved in the transaction. |
| Brendan Burke | Representative | Person | A representative from Pinnacle Realty involved in the transaction. |