A partnership between Venture One and Kovitz Investment Group has acquired an 488,571-square-foot industrial building in Batavia, Illinois.
According to public records, the asset traded for $21.2 million and the sale was subject to a $15 million line of credit. Yardi Matrix data shows the property last changed hands in 2017, when it was acquired by WHI Real Estate Partners.
The building came online in 1996 and underwent an expansion in 2002. It includes 20 to 30-foot clear heights, 25 exterior docks, 3 drive-in doors and 414 parking spaces. The facility also has 7.3 acres of excess land, for additional car and truck parking or other expansions. The property is 100 percent leased to two tenants.
Located at 601-605 Kingsland Drive, on 27 acres, the building is within 6 miles of Interstate 88 and DuPage Airport.
Colliers Principals Jeff Devine and Steve Disse represented the seller in the transaction. Earlier this month, another Colliers team brokered the sale of a 325,800-square-foot industrial property in Phoenix. The asset changed hands for $30.7 million.