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Chicago & Midwest  + Greater Chicagoland  + Office  |  August 17, 2018
Paul Bubny
By: Paul Bubny

Transwestern Brokers 4-Property Office/Flex Deal

Transwestern has brokered the sale of a four-property, 522,000-square-foot office and flex portfolio in DuPage County on behalf of the seller, Denholtz Associates. The properties were acquired by Clear Height Properties for $30 million.

Managing director Gary Nussbaum, director Michelle Monhaut and associate Paige Gunn of Transwestern’s Chicago Capital Markets Group arranged the deal. Included were properties in Oak Book (pictured), Elmhurst, Bensenville and Willowbrook, IL.

“In line with national trends, we’ve seen a significant increase in investor appetite for well-located, single- story flex assets over the last year in both DuPage County and Cook County,” said Gunn.

Added Nussbaum, “Investor competition for the portfolio was very strong. Extremely well-located but underperforming properties such as those in this portfolio present very rare opportunities for investors looking to reposition assets and obtain attractive returns.”


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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).
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