Venture One acquires Addison industrial building

ROSEMONT - VK Industrial III, LP, an acquisition fund partnership between Venture One Real Estate and Kovitz Investment Group, has closed on the acquisition of a vacant 39,819 square foot industrial building at 120 Fairbank St. in Addison.

Financial terms were not announced.

The building features four docks, five drive-in-doors, 4,000 square feet of office, 2,000 amps of power and warehouse floor drains. The building is divisible down to 16,000 square feet.

Venture One has extensive renovations planned including a new roof, new parking lot, as well as office and warehouse upgrades.

Justin Lerner and Joe Karmin of Transwestern represented the seller in the transaction and will be retained by Venture One to market the property.