A joint venture partnership between Oak Brook-based real estate investor Clear Height Properties and Harbert U.S. Real Estate has acquired a 121,684 square foot, muti-tenant light industrial complex located at 9201 East Bloomington Freeway in Minnesota.
Known as the “Bloom Tech” complex, the property is comprised of 14 tenants with 20 dock-high doors and five drive-in doors. Bentley Smith and Judd Welliver of CBRE were the sole brokers in the purchase transaction.
“Bloom Tech features a diverse tenant roster with historical long-term retention,” said Jacob Swartz, associate director of acquisitions at Clear Height Properties. “The property is strategically located two turns off the intersection of I-35 and 94th Street, providing the tenants easy ingress and egress throughout the Twin Cities.”
Headquartered in Illinois, Clear Height Properties acquires and operates industrial real estate throughout the Midwest. Harbert U.S. Real Estate is an investment strategy sponsored by Harbert Management Corporation, an alternative asset manager formed in 1993.