Venture One Real Estate Acquires 82,619 Square Foot Industrial Building in New York
Deal News | Nov 15, 2024 | Venture One Real Estate LLC
Venture One Real Estate LLC, a specialist in industrial real estate, has expanded its portfolio with the acquisition of a substantial 82,619 square foot industrial property. Located in Port Washington, New York, the property sits within Long Island's westernmost industrial park, offering strategic access to key areas via the Long Island Expressway. The building, equipped with modern facilities including an ESFR sprinkler system, ample power supply, and a rooftop solar array, is fully leased to a single tenant. This acquisition was facilitated through Venture One's VK Industrial VII, LP fund, a venture co-sponsored with Kovitz Investment Group. The fund actively targets industrial acquisitions in the strategic markets of Chicago, the Northeast, and Florida. United Realty played a key role, representing the seller in the transaction with partners Gary Schacker and Roy Finkelstein.
Sectors
- Real Estate
- Private Equity
Geography
- United States – The industrial property is located in Port Washington, New York, highlighting the geographical relevance of this location in the U.S. market.
- New York – The specific location of the acquired property is Port Washington, New York, which is within the state of New York, emphasizing its regional importance.
Industry
- Real Estate – The acquisition involves the purchase of an industrial real estate asset, highlighting activity in the real estate sector.
- Private Equity – The transaction was completed by a private equity firm through its acquisition fund, focusing on investments in industrial properties.
Financials
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Venture One Real Estate LLC | Bidding Company | Company | Venture One Real Estate is involved in acquiring the industrial property through its fund. |
| VK Industrial VII, LP | Acquisition Fund | Company | The fund through which the acquisition was made, co-sponsored by Venture One Real Estate and Kovitz Investment Group. |
| Kovitz Investment Group | Co-sponsor | Company | A co-sponsor of the VK Industrial VII fund, involved in the acquisition process. |
| United Realty | Seller's Representative | Company | The firm represented the seller in the transaction, with key contacts Gary Schacker and Roy Finkelstein. |
| Gary Schacker | Seller's Representative | People | A representative from United Realty involved in facilitating the transaction on behalf of the seller. |
| Roy Finkelstein | Seller's Representative | People | A representative from United Realty involved in facilitating the transaction on behalf of the seller. |