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Avison Young negotiates sale of a multi-tenant portfolio in Addison
January 5, 2022
Central DuPage County maintains low vacancy rate and positive absorption
Chicago, IL – Avison Young today announced that it has sold a mixed multi-tenant 83,745 square-foot (sf) portfolio at 1765-1795 Courtland Court, in Addison, IL.
Avison Young’s Erik Foster and Mike Wilson, Principals based in the firm’s Chicago office and members of the national industrial capital markets team working in conjunction with local Chicago industrial professionals Adam Haefner, Zeke Rowan, and Martin Mikaitis represented the seller, Courtland Court, LLC.
The buyer was Clear Height.
“The portfolio is well diversified with tenants which provides stable cashflow for the future,” said Foster. “Each of the businesses sit in the Central DuPage industrial submarket which has sustained positive leasing activity with an occupancy of 89% over the last 15 years providing further stability for Clear Height,” added Wilson.
The current leasing momentum and the portfolio’s strong presence within the marketplace is illustrated by the recent leasing of 22,535 SF over the past 18 months according to Avison Young market data. In that time, the current occupancy of the portfolio has increased to 81%.
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