Venture One closes on Zion deal

Venture One Real Estate through its acquisition fund, VK Industrial IV LP, a partnership between Venture One and Kovitz Investment Group, has closed on the acquisition of a 55,276-square-foot industrial building on 6.5 acres located at 3300 16th St. in Zion.

The 24-foot precast building has 7 loading docks, 1 drive-in door and parking for 74 cars.

Following a short leaseback with the seller, the building will be available for lease in April of 2018.

Sergio Chapa and Mike Prost of Newmark Knight Frank represented the seller in the transaction and will be retained by Rosemont-based Venture One to market the property.

Venture One is a real estate private equity fund manager, developer and operating company specializing in the industrial property sector. Venture One owns more than 5.3 million square feet and controls over 1,100 acres of land in corporate business parks in the greater Chicagoland area. Principals of Venture One have over $6 billion of transactional experience.

Kovitz Investment Group is an independently-managed, registered investment adviser, founded in 2003. KIG is dedicated to providing best-in-class investment and wealth management solutions for high net worth individuals and their families, family offices, institution and financial professionals.