Avison Young negotiates sale of a multi-tenant portfolio in Addison

Avison Young negotiates sale of a multi-tenant portfolio in Addison January 5, 2022

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%.
 

Avison Young creates real economic, social and environmental value as a global real estate advisor, powered by people. As a  private company, our  clients collaborate with an empowered partner who  is invested in their success. Our integrated talent realizes the full potential of real estate by using global intelligence platforms that provide clients with insights and advantage. Together, we can create healthy, productive workplaces for employees, cities that are centers for prosperity for their citizens, and built spaces and places that create a net benefit to the economy, the environment and the community.

Avison Young is a 2021 winner of the Canada' s Best Managed Companies Platinum Club designation, having retained its Best Managed designation for 10 consecutive years.

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