CHICAGO, Sept. 17, 2025 /PRNewswire/ -- Green Courte Partners, LLC, a private equity real estate investment firm focused on building industry-leading companies within niche real estate sectors, announced today that its sixth investment fund, Green Courte Real Estate Partners VI, LLC and its affiliates, has acquired 1401, 1416, 1431, 1432, and 1448 Precon Drive, collectively a 28-acre industrial outdoor storage (IOS) property located in Chesapeake, Virginia, adjacent to Norfolk in the greater Hampton Roads area. The property is located in the Bainbridge industrial submarket and is in close proximity to the Port of Virginia, one of the busiest ports on the East Coast.

The property features a 400-linear-foot marine bulkhead, a rail spur, and approximately 165,000 square feet of industrial buildings. As part of the transaction, the seller, Precon Marine Industries, Inc., a diversified marine contractor founded in 1993, leased back the marine bulkhead, two buildings, and a portion of the yard space. The remaining buildings and yard space are leased to four separate tenants.

"With its unique waterfront location, direct rail access, and stable, long-term cash flow, this property aligns well with our IOS investment strategy," said Jordan Kerger, Managing Director at Green Courte. "We are excited to establish a presence in this market, one of the nation's most important port logistics hubs, and to expand our national IOS platform and growing base of maritime-focused IOS assets with this acquisition."

"We greatly valued Green Courte's ability to move quickly and efficiently to complete this transaction," said Doug Fuller, the seller's representative in the transaction. "Their deep knowledge of the IOS sector and understanding of the complexities inherent in these types of properties gave us confidence throughout the process. We appreciate their professionalism and look forward to continuing our long-term operations at the site as part of this new partnership."

About Green Courte Partners, LLC

Green Courte Partners, LLC is a Chicago-based private equity real estate investment firm focused on building industry-leading companies within niche real estate sectors. The firm has active investments in the following sectors: active-adult/independent senior living, land-lease communities, industrial outdoor storage, and near-airport parking. The firm combines focused investment strategies with a disciplined approach to transaction execution, operations, and asset management. Green Courte's goal is to invest in high-quality real estate assets that will generate attractive risk-adjusted returns over a long-term holding period. For additional information, please visit Green Courte's website at www.GreenCourtePartners.com.

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SOURCE Green Courte Partners, LLC