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Podolsky Northstar CORFAC International Completes Lease Transaction for Venture One; Increases Occupancy at Romeoville Multi-Tenant Facility

Riverwoods, IL (August 20, 2012)—Representing Venture One Real Estate, LLC, Adam J. Tarantur and John R. Homsher, CCIM, both Principals at Podolsky Northstar CORFAC International, have completed the lease of a 17,875 sq. ft. space in a multi-tenant industrial building located within Romeoville’s 800 acre Pinnacle Business Center.

The new construction two-building property at 140-162 Pinnacle Drive in Romeoville, IL consists of 80,584 sq. ft. of industrial space and features shallow building depths and 20 ft. clear ceiling heights.  5 never-occupied units remain available in the two buildings.  The property can accommodate tenants from 7,600 – 33,000 sq. ft.

This is the first transaction in the property since Venture One acquired it earlier this year.  Podolsky Northstar had been the prior owner’s exclusive marketing agent, and were retained by Venture One to continue marketing the available units for lease. 

Venture One is constructing 4,000 sq. ft. of office space to suit for the new tenant, Concept Communications Company.  Concept Communications Company is a 34-year-old family-owned national distributor of products used by convenience stores, service stations, car washes and truck stops.

“Venture One’s ongoing aggressive pursuit of tenants for their newly acquired property allowed Concept Communications to structure what is an exceptionally favorable deal for a high quality, well-located space in this market,” said Tarantur.

Matt Goode, Principal at Venture One, added, “We are really excited about this project. The product type and quality of this asset are unmatched in the well-performing I-55 submarket.” 

The tenant was represented by Grant Glattly, formerly of CB Richard Ellis and presently with Jones Lang LaSalle.  Legal representation was provided to ownership by Adam Berman of Mason Wenk and Berman in Chicago, and to the buyer by the Demetre Lambropoulos of McCarthy Duffy LLP in Chicago.

Podolsky Northstar CORFAC International (www.podolsky.com) is a full service commercial real estate firm providing brokerage, tenant representation, acquisition, disposition, sale/leaseback, investment, build-to-suit development, property and facility management, and consulting services for industrial, office and investment properties.  Their affiliation with CORFAC (Corporate Facility Advisors, Inc., www.corfac.com), among the largest alliances of commercial real estate firms in the world, allows them to offer these services nationwide.