Clear Height Properties and ICP Funds have formed a joint venture to acquire two multi-tenant light industrial buildings in Northbrook’s Sky Harbor Industrial Park. The portfolio, totaling 93,059 square feet, was acquired through the expertise of JLL brokers Sean Devaney , Kurt Sarbaugh and John Huguenard.
The properties are located at 720-730 Landwehr Road and 305-311 Era Drive in Chicago’s infill North Cook County industrial submarket. Both buildings are fully leased with a total of five tenants between them.
“We are thrilled to add these multi-tenant properties to our portfolio due to their prime location near I-294,” stated Rick Nevarez, director of acquisitions at Clear Height Properties.
With over $830 million worth of assets bought and sold in the past decade alone, Clear Height Properties is well-known for its successful real estate investments. Meanwhile, ICP Funds operates as an evergreen private equity real estate fund with holdings across 14 cities throughout the United States. Their growing portfolio includes various types of commercial properties such as industrial spaces, flex spaces and suburban corporate offices.
This joint venture acquisition marks another milestone for both companies’ continued growth within the commercial real estate market.
