Clear Height Properties has acquired a four-property, 522,000-square-foot suburban portfolio for $30 million. Transwestern represented the seller, a private investor. The portfolio includes a 201,800-square-foot building at 2625 Butterfield Road in Oak Brook, formerly known as Butterfield Office Plaza, and more than 320,000 square feet of flex properties in Elmhurst, Bensenville and Willowbrook.
“This is an exciting venture, and another demonstration of the growth and evolution of Clear Height,” said Dominic Sergi, CEO, Clear Height Properties. “We’re always looking for the right opportunities in the Chicagoland market, and these well-located assets fit our model perfectly.”
Sergi said the company has an aggressive value-add strategy, including a significant redevelopment and leasing plan that will be launched very shortly. Regarding the three flex properties, Sergi said, “we see great potential in industrial and flex properties that serve the needs of the small to mid-size user.”
Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism.
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