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Clear Height JV Acquires Core Plus Industrial in Kenosha
A joint venture of Chicago-based Clear Height Properties and Israel-based Buligo Capital Partners has acquired the 354,000-square-foot headquarters, manufacturing and distribution facility of Kenall Lighting in Kenosha, WI for an undisclosed sum. Clear Heights says this could be the first in a series of acquisitions with Buligo.
“We believe there is an opportunity, at this point in the market cycle, to find value within the ‘core plus industrial’ segment of the market,” said Dominic Sergi, Clear Height’s president and co-founder. “Through our JV with Buligo, we are looking to acquire more assets of this caliber over the next 24 months.”
The seller, a private investor, was represented in the transaction by Colliers International’s Jeffrey B. Devine and Steve Disse. Completed in 2014, the Kenosha facility sits on a 20.41-acre site and includes 50,000 square feet of office space.
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