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Clear Height Properties, Harbert Acquire IL Industrial Property
A joint venture partnership between Oak Brook-based real estate investor Clear Height Properties and Harbert US Real Estate, an investment strategy sponsored by Harbert Management Corporation, has acquired an industrial property at 700‒750 Chestnut Avenue in Park City, Illinois.
Paige Gunn, Vice President of Industrial Real Estate and Investment Sales at Stream Realty Partners, represented Clear Height in the acquisition. CBRE has been retained to lease the property, led by Executive Vice President Jason Lev, Senior Vice President John Suerth, and Vice President Jimmy Kowalczyk.
“This acquisition is perfectly aligned with our investment strategy,” said Rick Nevarez, Clear Height Properties’ Director of Acquisitions. “We target distribution, manufacturing, flex, and Industrial Service Facilities (ISFs). These assets are unique with parking and generous outdoor storage.”
The property includes two buildings totaling 103,686 square feet on over eight acres of usable land. Both buildings are leased by Reyes Coca-Cola Bottling.
