Venture One Real Estate Expands with Acquisitive Joliet Industrial Property
Deal News | Jan 02, 2025 | Venture One Real Estate LLC
Venture One Real Estate has completed the acquisition of a large industrial facility located in Joliet, Illinois in partnership with DRA Advisors. The 624,654 square foot warehouse, situated at 2700 Ellis Drive, was vacant at the time of purchase and includes state-of-the-art amenities such as expansive dock facilities, ample power supply, and a significant amount of secured outdoor space. Venture One plans to introduce 2,500 square feet of office space to the site, upgrading its potential market value. The acquisition was executed through Venture One’s VK Industrial VII fund, co-sponsored by Kovitz Investment Group, highlighting a strategic focus on key markets including Chicago, Northeast, and Florida. CBRE has been appointed to market the property with the aim of leveraging its unique infrastructural offerings which remain unmatched in the region.
Sectors
- Real Estate
- Industrial
- Investment
Geography
- United States – The acquisition took place in Joliet, Illinois, USA, involving firms based in the country.
- Illinois – The specific location of the acquired industrial property is in Joliet, Illinois.
Industry
- Real Estate – The acquisition of an industrial building is inherently part of the real estate sector.
- Industrial – The focus of the article on an industrial building highlights its classification within the industrial sector.
- Investment – The involvement of firms like Venture One Real Estate and DRA Advisors in an acquisition transaction positions it within the investment sector.
Financials
- 624,654 square feet – The area of the acquired industrial building.
- 52.25 acres – The size of the land on which the industrial building is constructed.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Venture One Real Estate LLC | Buyer | Company | A real estate firm involved in the acquisition of the industrial building. |
| DRA Advisors | Partner | Company | Partnered with Venture One Real Estate in the acquisition of the industrial building. |
| VK Industrial VII | Acquisition Fund | Finance | The fund used by Venture One Real Estate for the acquisition, aimed at investing in industrial properties. |
| Kovitz Investment Group | Co-Sponsor | Company | Co-sponsor of the VK Industrial VII fund. |
| CBRE | Marketing Agent | Company | Appointed to market the newly acquired property. |
| Michael Clewlow | Vice President of Acquisitions | Person | Vice President of Acquisitions at Venture One Real Estate. |
| Jeff Devine | Representative of Seller | Person | Part of the team that represented the seller. |
| Steve Disse | Representative of Seller | Person | Part of the team that represented the seller. |
| Tyler Ziebel | Representative of Seller | Person | Part of the team that represented the seller. |
| Traci Payette | CBRE Marketing Agent | Person | Part of the CBRE team marketing the property. |
| Jeff Kapcheck | CBRE Marketing Agent | Person | Part of the CBRE team marketing the property. |
| Rowan McDonnell | CBRE Marketing Agent | Person | Part of the CBRE team marketing the property. |