4000 South Racine Ave. in Chicago totals 140,792 square feet. 4000 South Racine Ave. in Chicagototals 140,792 square feet.

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CHICAGO—Taurus Investment Holdings, LLC of Boston has added toits portfolio here with the $153.5-million purchase of the28-property Chicago Infill Industrial Portfolio from Rosemont,IL-based private equity firm Venture One.

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The portfolio consists of more than 1.9 million square feet ofspace across 11 of the 19 Chicago submarkets. Capital One providedthe debt financing for the acquisition. Venture One will continueto manage the portfolio.

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The properties are currently 98.1% leased to 46 international,national, regional and local tenants including companies such asPactiv, Astronics and Overture.

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The acquisition marks the second time in 22 months that Taurushas acquired one of the largest Chicago portfolios in thatrespective year. Taurus previously purchased a 51-building ChicagoIndustrial Portfolio in June 2018 for $201 million.

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"This transaction provides an attractive opportunity to furtherenhance Taurus' U.S. industrial platform. Industrial continues tobe among the highest performing asset classes and marketfundamentals point toward further growth" says Peter A. Merrigan,CEO and managing partner of Taurus Investment Holdings.

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Lathan Allen, managing director of US industrial at Taurus,adds, "Last mile logistics, especially in large population centerslike Chicago, remain one of our highest conviction investmentstrategies. This acquisition in particular offered our investorsstrong tenant and geographic diversification with locations acrosssubmarkets that have outperformed the larger market as awhole."

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Taurus, which has been very active in the industrial spacenationwide, made headlines in November 2019, when it sold a95% stake in a 117-building portfolio acrossAtlanta, Chicago, Dallas & Memphis to Investcorp for $614million.

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In February of this year, Venture One Real Estate announced thata partnership between Venture One and Kovitz Investment Group,closed on the acquisition of an 36,080-square-foot industrialbuilding located at 236 William St. in Bensenville, Illinois. Themulti-tenant building was fully leased at acquisition with a 14,068square foot unit coming available in September 2020.

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The 16-foot clear height building was constructed in 1965 andsits on 1.62 acres of land. It features five docks, four drive-indoors, 800 amps of power and parking for 40 cars. Venture Onestated it plans to complete make ready improvements to the 14,068square foot unit including office renovations and adding energyefficient warehouse lighting.

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John Jordan

John Jordan is a veteran journalist with 36 years of print and digital media experience.