, along with its investment partners, closed on the acquisition of 1437-1455 Payne Road, an 18,000 square foot, multi-tenant industrial property located in Schaumburg, Illinois. The property sits directly across the street from 1000 E. State Parkway, a 43,799 square foot, multi-tenant flex industrial property owned by Clear Height.
The property is 100% leased and is subdivided into four units. Each unit is 4,500 square feet and has a dedicated drive-in-door.
Clear Height plans to make several base building and cosmetic improvements to the property including new signage, tuck-pointing, resurfacing the parking lot and new HVAC systems.
The seller was represented in the transaction by John Sharpe with Lee & Associates.
"Clear Height has a unique ability to aggregate highly functional, well located assets in high barriers to entry pockets of suburban Chicago
commented Jason Simon, Principal of Colliers. "I love Schaumburg for its proximity to two major interstates and surplus of fast food options."