Colliers International | Chicago’s Patrick Turner, Tom Rodeno and Matthew Stauber represented Clear Height Properties in the purchase of a five-building, 666,079-square-foot, industrial portfolio in metro Chicago from American Landmark Properties. At the time of sale, the buildings were 85 percent leased to a roster of 77 tenants including Advocate Health, Amazon and Crawford Murphy & Tilly.
“These properties were an ideal fit with Clear Height Properties’ existing portfolio and offered our client an opportunity to acquire a critical mass of solid assets in core markets,” said Turner, a vice president with Colliers | Chicago.
The portfolio included 550 and 600 North Commons, a 73,960-square-foot facility in Aurora; 710-854 Foster Avenue, a 116,785-square-foot facility in Bensenville; 1400-1538 Elmhurst Road, a 78,039-square-foot facility in Elk Grove Village; 3456 Ridge Avenue, a 100,207-square-foot facility in Arlington Heights and 8220 Austin Avenue, a 297,088-square-foot facility in Morton Grove.
“While the properties are largely leased, we plan to pursue capital improvement opportunities on vacant spaces to create value through lease up,” said Daniel Huml, chief investment officer with Clear Height Properties.