Venture One Real Estate—through its acquisition fund, VK Industrial V, LP, a partnership between Venture One and Kovitz Investment Group—has closed on the acquisition of a 488,571-square-foot industrial building located at 601-605 Kingsland Drive in Batavia, Illinois. The multi-tenant precast building is 100 percent leased to two tenants.
The building was constructed in 1996, expanded in 2002 and sits on 26.99 acres of land. It features 20- to 30-foot clear heights, 25 exterior docks, three drive-in doors and parking for 414 cars. Additionally, the property has 7.31 acres of excess land which can accommodate additional car parking, truck parking or a 132,737-square-foot building expansion.
Jeff Devine and Steve Disse of Colliers International represented the seller in the transaction.