A three way partnership between Clear Top Properties and Harbert US Actual Property has acquired an industrial portfolio of 31 belongings and two land websites totaling 1.4 million sq. toes within the Chicago area for greater than $100 million.
The portfolio is 98 % leased to greater than 130 companies, most of them within the Central DuPage submarket with the remaining properties situated in Cook dinner, Kane and Lake Counties.
“It is a large and vital transaction by any measure, particularly contemplating it was accomplished throughout a interval of financial uncertainty within the capital markets,” stated Dominic A. Sergi, CEO, Clear Top Properties. “We’ve had super curiosity on this portfolio for greater than a decade. The completion of this deal demonstrates Clear Top’s persistence, capability to shut, and power within the market.”
Steve Roth and Scott Lewis of CBRE Capital Markets facilitated financing for the portfolio, the three way partnership’s companions stated in a press release.
“Clear Top plans to proceed increasing our portfolio, with a objective of proudly owning over $1 Billion of properties by 2027. This marquis portfolio is a good complement to our present properties, and we’re excited on the synergies it’ll create with our present operations. We provide our particular because of Brian Silverman of JBS Business for bringing us this off-market alternative,” stated Gary Rose, COO and President of Clear Top Properties. “As we combine these properties and tenants into our portfolio, we intend to honor the vendor’s long-standing repute within the market and proceed to construct on the legacy they’ve created.”
The Chicago industrial market posted occupancy positive factors higher than 5 million sq. toes in the course of the third quarter, based on Colliers.
