Clear Height JV Acquires Oak Brook Offices
A joint venture of Clear Height Properties and Buligo Capital Partners acquired an office property at 814 Commerce Dr. in Oak Brook, IL, within in the eastern East West Corridor. Clear Height acquired the 171,933-square-foot office building from Elliott Management for an undisclosed purchase price.
This is the second acquisition made by the Clear Height/Buligo JV. The partners plan a repositioning.
“This was an acquisition that we got very excited about,” said Clear Height’s Gary Rose. “We have engaged Gensler to help us modernize and energize the exterior and common areas of the building, and believe strongly that the final product will draw strong interest from tenants as we lease the remaining vacancy.”
The building was marketed for sale by NAI Hiffman’s Art Burrows, James Adler and Dan O’Neill. Clear Height named NAI Hiffman as marketing and property management representative for the property.
As seen at Connect Media.