Clear Height/Harbert JV Divests Elmhurst Portfolio
A joint venture partnership between Clear Height Properties and Harbert US Real Estate has sold a 140,796 square-foot, seven-building industrial portfolio located at 747 N. Church Rd. in Elmhurst, IL for an undisclosed sum. The buyer was Hamilton Partners.
The sale of 747 N. Church is the first for the JV, which now includes 18 assets and approximately 1.3 million square feet. The portfolio is 100% leased to 23 tenants ranging in size from 1,300 to 14,000 square feet.
“The prime location, just north of Lake St. off I-290, was a key factor for the buyer,” said Tom Seurynck, VP of asset management & acquisitions at Clear Height. “And industrial demand remains robust for small to mid-sized tenants, so this property offers a very strong current cash flow while simultaneously providing future optionality due to the location.”