Industrial Midwest

Venture One acquires 78,775 s.f. flex building in Libertyville

Venture One Real Estate, LLC, through its acquisition fund, VK Industrial I, LP, has closed on a 78,775-square-foot flex facility, located at 2401-2441 Commerce Drive in Libertyville, Ill.

Venture One Real Estate, LLC, through its acquisition fund, VK Industrial I, LP, has closed on a 78,775-square-foot flex facility, located at 2401-2441 Commerce Drive in Libertyville, Ill.

The building was purchased from Lincoln Commerce Center Properties, LLC who was represented by Patrick J. Sullivan of Converse Capital in Lake Forest, Ill.

The building is located in Lincoln Commerce Center just west of the intersection of Route 137 and Lake Street.  Constructed in 1994, it is fully air conditioned and features a 1600 amp power service, 260 car parking and fully installed fiber optics.

The facility is approximately 43 percent leased to A-S Medication Solutions, LLC who occupies 34,000 square feet. The remaining 44,775 square feet, which is divisible down to 10,000 square feet is being marketed for lease to both office and flex/warehouse users.  Sam Badger, Whit Heitman and Brad Weiner of Paine/Wetzel have been hired to market the facility for Venture One.

According to Matt Goode, principal with Venture One, the building will undergo some minor renovations including parking lot resurfacing, exterior painting as well as office and warehouse remodeling.