Matterhorn Venture Partners (MVP) announced the acquisition of 3160-3196 N. Kennicott Ave., a 75,310-square-foot, two-building industrial small-bay complex situated on 3.9 acres in Arlington Heights, Ill. The property, which is 87 percent occupied by five tenants across seven suites, was acquired off-market from a local owner.
Built in 1981, the complex features 18-foot clear heights, eight drive-in doors, eight interior docks and ample parking. Each site benefits from its own dedicated dock door and drive-in door, a distinguishing feature uncommon for this suite size and enhancing the property’s appeal to a wide range of industrial tenants. The property generates in-place cash flow on a triple net basis, with current rents well below prevailing market rates. With several tenant leases expiring over the near term, MVP sees an opportunity to meaningfully increase rental income through proactive lease management and targeted capital improvements.
“The Kennicott Indus
