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Clear Height Properties and its investment partner ICP Funds have sold 2055 Army Trail Road, a multi-tenant shallow-bay industrial business park in Addison, Illinois. The disposition marks the exit of a joint venture strategy focused on infill, multi-tenant light-industrial assets catering to small and mid-sized businesses across the Chicago metropolitan area.
The property was originally acquired as part of a broader programmatic effort by the Clear Height–ICP partnership to assemble and enhance a portfolio of light-industrial facilities in supply-constrained locations. Within this strategy, the Addison asset served as a representative example of the type of shallow-bay industrial product targeted for operational and physical upgrades to drive performance.
After acquiring 2055 Army Trail Road, Clear Height implemented a focused value-creation plan tailored to the property. The firm pursued leasing initiatives aimed at strengthening occupancy and improving the rent roll, while also undertaking capital improvements intended to elevate the building’s functionality and curb appeal for industrial users. These efforts were complemented by active asset management intended to support tenant retention and position the asset for durable, long-term tenancy.
Commenting on the outcome, Kevin Bufalino, Managing Director of Asset Management at Clear Height Properties, noted that 2055 Army Trail Road reflects the firm’s ongoing emphasis on well-located shallow-bay industrial assets in markets where new supply is limited. He emphasized that by improving operations and repositioning the property for long-term occupancy, the venture was able to achieve a favorable result for its investors.
The Addison industrial submarket is described as continuing to experience strong tenant demand. Driving factors include its central location within DuPage County, connectivity to major transportation corridors, and access to the larger Chicago industrial distribution network. These characteristics support the performance of multi-tenant shallow-bay product catering to a diverse base of small and mid-sized users that rely on regional distribution capabilities and convenient highway access.
The sale of 2055 Army Trail Road underscores ongoing interest in infill industrial business parks that can serve both local and regional occupiers. While terms of the transaction were not disclosed, the combination of targeted capital improvements, leasing execution, and an active asset management plan underpinned the joint venture’s ability to complete the disposition within a submarket benefiting from sustained user demand and established logistical advantages.
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