A joint venture between Clear Height Properties and Harbert US Real Estate has acquired an industrial portfolio of 31 assets and two land sites totaling 1.4 million square feet in the Chicago region for more than $100 million.
The portfolio is 98 percent leased to more than 130 businesses, most of them in the Central DuPage submarket with the remaining properties located in Cook, Kane and Lake Counties.
"This is a massive and significant transaction by any measure, especially considering it was completed during a period of economic uncertainty in the capital markets," said Dominic A. Sergi, CEO, Clear Height Properties. "We've had tremendous interest in this portfolio for more than a decade. The completion of this deal demonstrates Clear Height's persistence, ability to close, and strength in the marketplace."
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