Listen to this articleIn an expansion of its growing Long Island portfolio, Venture One Real Estate has purchased an industrial property in Port Washington for $16 million.
Venture One acquired the 82,619-square-foot building on 3 acres at 3 Seaview Blvd. The purchase was made through Venture One’s acquisition fund VK Industrial VII, LP, according to a company statement.
The Port Washington property is leased to Agilant Solutions Inc., a provider of IT consulting and enterprise computing services to companies in publishing and media, healthcare, financial services, education, real estate and manufacturing. Agilant has occupied the building at 3 Seaview since early 2018, after it received economic incentives from the Nassau County Industrial Development Agency to move there from New York City.
The LEED Gold certified building, which has 19,000 square feet of office space and 60,000 square feet of warehouse space, features 40-foot clear ceilings, five dock doors, a drive-in bay, a rooftop solar array and backup generator.
The property at 3 Seaview had been the headquarters for Ivy Enterprises, a division of Kiss Products, until the beauty supplies company purchased the 272,142-square-foot former Pall Corporation complex on 16 acres at 25 Harbor Park Drive for $30 million in 2017.
Venture One has been active in the Long Island market over the last three years. The developer acquired an 85,000-square-foot industrial building on 9.7 acres at 2950 Veterans Memorial Highway in Bohemia in Nov. 2021 where it built a new 121,280-square-foot warehouse and distribution facility. In March 2022, Venture One acquired a 90,000-square-foot office building on 7.4 acres at 49 Wireless Blvd. in Hauppauge, where it built a 75,291-square-foot warehouse and distribution building.
In August 2022, Venture One purchased the 110,770-square-foot building on 9 acres at 2100 Smithtown Ave. in Ronkonkoma for $16.2 million. The property had served as the headquarters for vitamin and supplements firm The Bountiful Company. Earlier this month, Venture One and Miami-based BGO Cold Chain, an affiliate of global real estate investment firm BGO, began construction on a 137,470-square-foot cold storage facility on the site.
Venture One owns and manages over 12 million square feet and controls over 1,100 acres of land in corporate business parks across the country. VK Industrial VII is co-sponsored by Venture One Real Estate and Kovitz Investment Group and is one of a series of discretionary value-add investment funds that target opportunities throughout the Midwest, the Northeast and Florida.
Venture One was self-represented, while Gary Schacker and Ray Finkelstein of United Realty represented the seller, Ivy Enterprises, in the Port Washington sales transaction.
