{"id":1004717846,"date":"2024-06-18T03:56:01","date_gmt":"2024-06-18T11:56:01","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004717846"},"modified":"2024-06-18T05:53:04","modified_gmt":"2024-06-18T13:53:04","slug":"venture-one-leases-445-ksf-at-chicago-industrial-asset","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/venture-one-leases-445-ksf-at-chicago-industrial-asset\/","title":{"rendered":"Venture One Leases 445 KSF at Chicago Industrial Asset"},"content":{"rendered":"\n<p><\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"alignright size-full is-resized\"><img loading=\"lazy\" decoding=\"async\" width=\"1211\" height=\"910\" data-attachment-id=\"1004717851\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/venture-one-leases-445-ksf-at-chicago-industrial-asset\/la-jim-dhamer-road\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/06\/LA-Jim-Dhamer-road-e1718701886148.jpg\" data-orig-size=\"1211,910\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;1&quot;}\" data-image-title=\"L&#038;A Jim Dhamer road\" data-image-description=\"&lt;p&gt;Venture Park 47&#8217;s transit-centric location that allows for incomparable access to the O\u2019Hare market. Image courtesy of Lee &#038; Associates&lt;\/p&gt;\n\" data-image-caption=\"&lt;p&gt;Venture Park 47&#8217;s transit-centric location that allows for incomparable access to the O\u2019Hare market. Image courtesy of Lee &#038; Associates&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/06\/LA-Jim-Dhamer-road-e1718701886148.jpg?w=1024\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/06\/LA-Jim-Dhamer-road-e1718701886148.jpg\" alt=\"Venture Park 47\" class=\"wp-image-1004717851\" style=\"object-fit:cover;width:400px;height:300px\"\/><figcaption class=\"wp-element-caption\">Venture Park 47 broke ground in 2022. <em>Image courtesy of Lee &amp; Associates<\/em><\/figcaption><\/figure><\/div>\n\n\n<p>Venture One Real Estate has secured a 444,600-square-foot lease\u00a0with John B. Sanfilippo &amp; Son Inc. at\u00a0Venture Park 47, an industrial building spanning 729,823 square feet in Huntley, Ill.<\/p>\n\n\n\n<p>Lee &amp; Associates brokered the deal, securing the long-term lease on behalf of the new tenant. Colliers represented the landlord.<\/p>\n\n\n\n<p>This transaction marks the largest industrial lease of the second quarter in Chicago\u2019s North Kane County submarket, and the fourth largest in the Chicago metropolitan area, according to Lee &amp; Associates.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-text-color has-cyan-bluish-gray-color has-alpha-channel-opacity has-cyan-bluish-gray-background-color has-background is-style-wide\"\/>\n\n\n\n<p><strong>READ ALSO: <\/strong><a href=\"https:\/\/www.commercialsearch.com\/news\/the-case-for-last-mile-facilities\/\">The Case for Last-Mile Facilities<\/a><\/p>\n\n\n\n<hr class=\"wp-block-separator has-text-color has-cyan-bluish-gray-color has-alpha-channel-opacity has-cyan-bluish-gray-background-color has-background is-style-wide\"\/>\n\n\n\n<p>Venture Park 47 came online just last year, featuring 40-foot clear heights, a ESFR fire sprinkler system and 72 docks, expandable to 124, as well as 130 trailer parking spaces and approximately 448 car parking spaces. The developer <a href=\"https:\/\/www.commercialsearch.com\/news\/venture-one-breaks-ground-on-71m-industrial-project\/\">broke ground <\/a>on the $71.3 million speculative development at the 40-acre greenfield land site back in 2022.<\/p>\n\n\n\n<p>Located at 12300 Jim Dhamer Drive, Venture Park 47 is within Chicago\u2019s Golden Corridor submarket. The property is near Interstate 90, which allows easy access across the Chicago metropolitan area. The industrial asset is also roughly 30 miles west of Chicago\u2019s O\u2019Hare International Airport. <\/p>\n\n\n\n<p>Lee &amp; Associates\u2019 Principals Frank Griffin and John Sharpe represented the&nbsp;tenant in the deal, while Colliers Vice Chair Brian Kling and Vice President Reed Adler worked on behalf of the owner.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-chicago-leads-the-midwest-industrial-market\">Chicago leads the Midwest industrial market<\/h2>\n\n\n\n<p>As of April, the average industrial rent in Chicago clocked in at $6.09, a 5 percent increase over the past 12 months, according to <a href=\"https:\/\/www.commercialsearch.com\/news\/boosting-u-s-manufacturing-spurs-construction-boom\/\">a recent CommercialEdge report<\/a>. Vacancy was at 5 percent, slightly below the 5.2 percent national rate.<\/p>\n\n\n\n<p>In addition, the Windy City recorded the largest sales volume in the Midwest and the fourth-largest nationally, with industrial deals totaling $834 million in 2024&#8217;s first four months. During this period, the average sale price clocked in at $97 per square foot.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>This transaction marks the fourth-largest lease in the market so far this year.<\/p>\n","protected":false},"author":3014,"featured_media":1004717851,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21784,1491,21748,13,21742],"tags":[35498,32762,49819],"class_list":["post-1004717846","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-brokerage","category-chicago","category-industrial","category-midwest","category-latest","tag-colliers","tag-lee-associates","tag-venture-one"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Venture One Leases 445 KSF at Chicago Industrial Asset - 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