Real estate development and equity firm, Venture One Real Estate of Rosemont, Ill., is the new owner of a 195,872-square-foot industrial building at 10550 86th Ave. in Pleasant Prairie’s sprawling Lakeview Corporate Park at Interstate 94 and Highway 165.
An affiliate of Venture recently purchased the structure for $24.3 million -- about $12 million more than the property was assessed at just one year ago. The building was sold by an affiliate of Indianapolis-based Scannell Properties, which bought it in 2019 for $14.5 million.
Located on 11.6 acres off Lakeview Parkway between 86th and 88th avenues, the building is currently home to two tenants, according to the village of Pleasant Prairie. Iron Mountain Refrigeration & Equipment, which sells coolers and other commercial refrigeration products, occupies a space on the south end of the building. Asteroid Precision, which specializes in complex high-precision component machining and manufacturing for a range of industries, including medical, firearm and aerospace, is in the process of occupying a space on north side of building. A post on construction firm Morgan/Harbour’s website states that Asteroid Precision will use 98,000 square feet of the building.
Constructed sometime in 2019, the building was last assessed at just under $12.27 million.
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