Brown Commercial Group negotiated a 20,000-square-foot industrial building sale in Chicago’s O’Hare submarket. Vice President of Sales Mason Hezner represented Clear Height Properties, an industrial investment and management firm, in the purchase of an off-market property Hezner identified through his extensive network of industry connections.
The building was purchased as a joint venture partnership between Clear Height Properties and Harbert US Real Estate, an entity sponsored by Harbert Management Corporation.
The two-unit building at 500-502 Crossen Ave. in Elk Grove Village, Illinois, sold for $1.6 million.
The building includes two, 10,000-square-foot units that are each fully leased. Unit 500 is leased to Polaris Worldwide Logistics and Unit 502 is leased to Cleaver Brooks Sales and Service, Inc.
A five-year lease extension for Cleaver Brooks was negotiated as part of the transaction.
