CHICAGO—Venture One Real Estate LLC, through its acquisition fund, VK Industrial I LP, has acquired a vacant, 110,063-sq.-ft. building located at 171 Covington Drive in Bloomingdale, Ill.
Venture One has plans for building improvements that will include a new roof, exterior and interior paint and energy-efficient lighting. ARCO/Murray national Construction Inc. will be spearheading these improvements on behalf of the ownership.
“The combination of power, HVAC capacity, data capabilities, parking, location and image make this building a remarkable opportunity for a tenant,” said Matt Goode, principal with Venture One.
Upon completion, the building will be marketed by Ken Franzese, John Sharpe and John Cassidy of Lee and Associates.
Located three miles south of the Elgin/O’Hare Expressway on nearly eight acres, 171 Covington Drive was previously occupied by CTS Corporation. The property is fully air-conditioned, has a 4,000-amp power service, 22-ft. clear height, fiber availability, low voltage distribution and a 1,500-sq.-ft. data room.