Clear Height Properties has purchased a two-building business park located at 1775 and 1801 Old Hwy 8 in New Brighton, MN.
OAK BROOK, Ill., Aug. 10, 2022 /PRNewswire-PRWeb/ -- Clear Height Properties has purchased a 79,028 square-foot two-building business park located at 1775 and 1801 Old Hwy 8 in New Brighton, MN. The value-add urban industrial tech acquisition is the first in Minnesota for Clear Height.
Located in the bustling I-694/I-35W corridor, the 11-unit complex is 87% leased and is located roughly 20 minutes north of the Twin Cities. The Twin Cities industrial market has witnessed tremendous growth from users—increasing from 5.0M+ in 2014 to 12.0M+ in 2021. Tenants enjoy access to a robust labor pool, retail amenities, housing, and immediate access to interstate highways.
Harrison Wagenseil and Erik Coglianese of Transwestern represented the seller.
"Rush Lake Business Park is our first acquisition in Minnesota," said Jed Degnan, Director of Acquisitions, Clear Height Properties. "The properties fit perfectly into our strategy of acquiring efficient assets in infill markets. The Minneapolis/St. Paul market is reporting historically strong figures across all metrics, and we feel that this acquisition is the ideal opportunity for Clear Height to plant its first flag in the market."
"We have a good presence in Chicago and are looking to expand our footprint across the Midwest. Primary acquisition targets include, but are not limited to, Minneapolis, St. Louis and the Ohio triangle of Cincinnati, Columbus, and Dayton," said Joe Young, Managing Director, Asset Management and Acquisitions, Clear Height Properties. "We're excited to begin executing our business plan."
About Clear Height Properties
Clear Height Properties is a rapidly expanding real estate investment company focused on creating value for its investors by acquiring and developing office and industrial properties throughout the Midwest. Clear Height's full-service platform includes acquisition, asset management, property management, leasing, and project and development services. For more information, please visit http://www.clearheight.com.
Media Contact
Michael Millar, Open Slate Communications, Inc., 1 847-863-1037, [email protected]
SOURCE Clear Height Properties
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