Scott McKibben And Matt Kay Of Matterhorn Venture Partners Acquire 75,310 SF Industrial Complex In Arlington Heights

The property asset involved in this transaction is the Kennicott Industrial Complex located at 3160-3196 North Kennicott Avenue in Arlington Heights, featuring a total square footage of 75,310 and situated on 3.9 acres. This industrial asset consists of two buildings that are currently 87% occupied, providing an opportunity for cash flow through its leased suites.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: Not disclosed
• Square Footage: 75,310
• Address: 3160-3196 North Kennicott Avenue
• Market: Arlington Heights
• Occupancy Rate: 87%
• Year Built: 1981
• Number of Tenants: Five
• Number of Suites: Seven
• Acreage: 3.9
• Buyer: Scott McKibben & Matt Kay
• Buyer Company: Matterhorn Venture Partners

Scott McKibben and Matt Kay, as executives of Matterhorn Venture Partners, completed the acquisition of the industrial property off-market from a local owner. The asset is leased at below-market rents with near-term lease expirations, presenting potential for value enhancement through forthcoming lease renewals and capital improvements, aligning with the firm's strategy for industrial aggregation in the Chicago area.