News
THE 3-ADD VENTURE
July 25, 2011
| Venture One's VK Industrial I, a $75M fund, acquired three new buildings late last week, bringing the total to 11 in as many months, Venture One's Matt Goode tells us. | |
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| Each building has its own unique story, says Matt (top left, whom we snapped with colleagues Steven Goode, Roy Splansky, and Mark Goode, perhaps getting ready for an old-fashioned chair race at their offices). The 97k SF 24035 Riverwalk Court in Plainfield had a recent lease renewal with Plainfield Molding, making it a good long-term prospect. 3575 Moreim Dr in Belvidere is farther from Chicago than Venture One usually goes, but the 100k SF building is near an underserved Chrysler assembly plant that's expanding. And 1463 Lunt in Elk Grove Village is at the heart of the high-demand O'Hare industrial corridor and has a 14' clear ceiling, higher than most in the area. | |
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| The fund is about half invested in a total of 700k SF since its opening in September 2010. Matt tells us he thinks the fund has been relatively conservative so far, investing in only high-quality properties (like the one on Riverwalk Court in Plainfield pictured here) and using a lot of due diligence. Venture One has seen a lot of growth in the industrial submarkets lately and has plans to raise a second fund. |
