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.”
For comments, questions or concerns, please contact Paul Bubny