Clear Height Properties/Walker & Dunlop Investment Partners Joint Venture Leases Industrial Service Facility (“ISF”) in Chicago’s Near West Suburbs Submarket
A joint venture partnership between Oak Brook-Illinois-based real estate investor Clear Height Properties (“Clear Height”) and Denver-Colorado-based Walker & Dunlop Investment Partners (“WDIP”) has leased a single-tenant ISF located at 9211 Gage Avenue in Franklin Park, Illinois.
The property consists of an 18,800 square foot building with a low 30% building-to-land coverage ratio, fully gated and secured parking area for a fleet of field service vehicles, four drive-in doors, and interior triple catch basins. The new tenant is a national HVAC service contractor who will utilize the property as their vehicle dispatch and warehouse for their fleet of more than forty vans.
The property is located less than five miles from O’Hare International airport and centrally located between I-90 and I-290.
“This project represents another example of how Clear Height Properties adds value to execute a business plan in the Industrial Service Facility (ISF) sector. We had the right brokerage team, right asset, and we were able to agree to terms with a national HVAC company,” said Max Hoye, Director of Leasing, Clear Height Properties.“ “When an asset like 9211 Gage comes to market that can offer a business a place to securely store and maintain their fleet of vehicles, house employees, and offer efficient dispatch, the right user will jump at the opportunity,” said Hoye.
Clear Height was represented by the CBRE team of Jason Lev, John Suerth, and Jimmy Kowalczyk.
The tenant was represented by the Cresa team of Eric Walker, Will Martin, and Mike Mangan.
About Clear Height Properties
Piloted by an experienced leadership team, Clear Height Properties has built a strong platform for acquiring and operating industrial real estate in the most desirable locations throughout the Midwest. From its headquarters in Oak Brook, Illinois, the firm has bought and sold 190 assets totaling over $830M over the past ten years, establishing a record of strong risk-adjusted returns. Driven by its core values and mission of “building wealth and creating legacies,” Clear Height is uniquely positioned to invest in, manage and add value to every asset and relationship. Learn more at www.clearheight.com.
About Walker & Dunlop Investment Partners
Walker & Dunlop Investment Partners (“WDIP”) is a real estate private equity firm which manages capital on behalf of endowments, foundations, pension plans, private funds, insurance companies, family offices and high net worth individuals. WDIP invests debt and equity capital in value-added, opportunistic, distressed, and special situation transactions through a series of private funds, joint ventures and separately managed accounts.