Clear Height Properties Acquires 146,342 Square Foot Flex Industrial Portfolio in Suburban Chicago

June 1, 2016
IP-II-LLC-121015-1

Clear Height, along with its investment partners, closed on the acquisition of a six building portfolio totaling 146,342 square foot. The properties are located at:

  • 3847 Exchange Ave., Aurora
  • 3121 Tollview Dr., Rolling Meadows
  • 76-92 Lively Blvd., Elk Grove Village
  • 600 Northgate Pkwy., Wheeling
  • 921-927 N. State St., Elgin
  • 2130 Oxford Rd., Des Plaines

The seller was represented in the transaction by John Coleman, Gary Nussbaum and David Matheis of Transwestern. Clear Height has retained John Joyce, Justin Lerner, Joe Karmin and Ryan Phillips of Transwestern as exclusive agents.

The portfolio is 92% leased with 5,451 square feet comprised of two units available in Wheeling and a 6,852 square foot unit available in Elgin.

Clear Height plans to make several base building and cosmetic improvements to the buildings including new signage, resurfacing the parking lots, replacing the roofs, new HVAC systems and exterior lighting upgrades.

“Market fundamentals for flex industrial show no sign of weakening,” commented Dominic Sergi, President/CEO of Clear Height Properties. “This acquisition allows us to capitalize on the benefits of portfolio diversification with multiple exit strategies.”