Venture One Real Estate through its acquisition fund, VK Industrial V, LP, has closed on the acquisition of a 7.37-acre industrial outdoor storage site at 1798 Hagemann Drive in Batavia, Illinois.
The property was vacant at the time of acquisition.
The 7.37-acre site is equipped with an 11,835-square-foot truck repair/maintenance facility and can accommodate more than 120 trailer positions. Venture One’s planned make-ready improvements include installing two drive-in repair bays with triple-catch basin floor drains, renovating the existing 4,743 square feet of office, paving the entire site, installing energy efficient lights throughout the parking lot and fencing the premises.
David Prell and Ted Gates of CBRE represented the seller in the transaction and will be retained to market the property for Venture One.
