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Clear Height Properties JV Acquires Minnesota Industrial Complex
A joint venture partnership between Oak Brook-based real estate investor Clear Height Properties and Houston-based ICP Funds has acquired 2890-2920 Centre Point Drive in Roseville, Minnesota.
The 101,850 square foot multi-tenant light industrial complex is in the North Central submarket, less than one mile from the intersection of I-35W and 29th Avenue NE. Clear Height was represented by Sam Maguire, Mitch Kall, and David Wiegratz of Modern Commercial Real Estate. Christopher Santana of ISA Commercial Real Estate represented the seller.
The 101,850-square-foot property features easy access to Interstate 35 West, Highway 280, and Highway 36. The industrial complex benefits from its prominent infill location, less than 10 miles from downtown Minneapolis, near the center of Roseville. The surrounding area offers a variety of retail, hotel, and restaurant options.
Clear Height has acquired and sold 213 assets, totaling nearly $1 billion, over the past fifteen years. ICP Funds is an evergreen private equity real estate fund investing across 18 U.S. cities.
