A joint venture partnership between Oak Brook-Illinois-based real estate investor Clear Height Properties and Houston-Texas-based ICP Funds has acquired Centerwest Business Park, a multi-tenant shallow-bay industrial business park totaling 116,224 square feet at 2055 West Army Trail Road in Addison, Illinois.
Located in one Chicago’s best performing industrial markets, the Central DuPage submarket has a vacancy rate less than 3%. The park is located at the southwest intersection of I-355 and Army Trail Road. The diversified park is home to sixteen tenants, with both drive-in doors and dock-high doors.
Kurt Sarbaugh and Sean Devaney of JLL were the sole brokers in the sale transaction.
