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A joint venture partnership between Oak Brook-Illinois-based real estate investor Clear Height Properties (“Clear Height”) and Harbert US Real Estate (“HUSRE”), an investment strategy sponsored by Harbert Management Corporation (“HMC”), has acquired a fully leased 103,540 square foot, multi-tenant light industrial building located at 2200 Highway 13 West in Burnsville, Minnesota, with frontage on the north side of Highway 13 West. The Minneapolis market consists of over 400 million square feet of industrial supply, reporting a 4.4% current vacancy rate. The property is in the South-Central submarket, one of Minneapolis’ best performing submarkets, reporting only a 3.5% vacancy rate. The building sits on over ten acres of land, including extensive outdoor areas, utilized by each of the tenants for car parking, fleet vehicle parking & material storage. The acquisition marks Clear Height’s fourth investment in the Minneapolis market. For details visit: https://lnkd.in/e-wTxuhu

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Land of a thousand lakes! Congratulations Joe

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