Venture One Real Estate Closes Deal on Farmingdale Industrial Property
Deal News | Jan 29, 2025 | Venture One Real Estate LLC
Venture One Real Estate, through its acquisition fund VK Industrial VII, LP, has successfully acquired a 50,043 square foot industrial building at 220 Sherwood Avenue in Farmingdale, New York. This multi-tenant property which possesses units between 11,373 to 25,383 SF, comes fully leased. The industrial building's strategic location offers excellent connectivity to Long Island and New York's five Boroughs, enhancing its appeal for logistical operations. The transaction featured representation by David Pennetta, Stephen Cadorette, and Tom DeLuca from Cushman & Wakefield, who acted on behalf of the seller. VK Industrial VII is managed jointly by Venture One Real Estate and Kovitz Investment Group, focusing on industrial property acquisitions in regions such as Chicago, the Northeast, and Florida. The acquisition signals further expansion and investment in high-potential industrial assets by the fund.
Sectors
- Real Estate
- Logistics
Geography
- United States – The transaction involves a property located in New York, while Venture One Real Estate is based in Illinois, showing a focus on the U.S. market.
- New York – The industrial building acquired is located in Farmingdale, New York, making it a key region of interest.
- Illinois – Venture One Real Estate is headquartered in Rosemont, Illinois, indicating its operational base.
Industry
- Real Estate – The acquisition of an industrial building falls under the real estate industry, highlighting property investment and management activities.
- Logistics – Given the strategic location of the property offering access to major roads, it plays a significant role in logistics and distribution networks.
Financials
- – The financial terms of the acquisition deal are not disclosed.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Venture One Real Estate LLC | Buyer | Company | A real estate company specializing in industrial property acquisitions. |
| VK Industrial VII, LP | Investing Fund | Company | An acquisition fund co-sponsored by Venture One Real Estate and Kovitz Investment Group, focusing on industrial properties. |
| Kovitz Investment Group | Co-sponsor | Company | A financial group co-sponsoring the VK Industrial VII fund. |
| Seller | Vendor | Company | The selling organization of the 50,043 square foot industrial building. |
| Cushman & Wakefield | Advisor | Company | Provided representation for the seller in the transaction. |
| David Pennetta | Advisor | Person | Represented the seller through Cushman & Wakefield. |
| Stephen Cadorette | Advisor | Person | Represented the seller through Cushman & Wakefield. |
| Tom DeLuca | Advisor | Person | Represented the seller through Cushman & Wakefield. |