A joint venture partnership between Oak Brook-based real estate investor Clear Height Properties and Buligo Capital Partners has acquired a 265,000 square-foot, five-building light industrial portfolio located in Hoffman Estates, Schaumburg, Aurora, and Bloomingdale. The seller was Chicago-based investor Green Door Capital.
The portfolio is 100 percent leased to four tenants with over seven years of weighted average lease term remaining.
Clear Height and Buligo plan to add additional value to the properties through an extensive capital improvement program, which will commence immediately. Capital improvements will likely include certain interior system upgrades, lighting upgrades, roof improvements, HVAC enhancements, and general building envelope work.
JLL Senior Director, Capital Markets Kurt Sarbaugh and Senior Managing Director, Industrial Platform Leader John Huguenard represented the seller. JLL’s Capital Markets team of Managing Director Christopher Carroll and Director Lucas Borges led the financing efforts.