Chicago

“Activity at these buildings demonstrates our belief that with a focus on capital improvements and aggressive marketing, tremendous value can be created,” says Joe Sergi of Clear Height Properties.

Groetsema has executed transactions on over 12 million square feet of industrial real estate with a value in excess of $1 billion during his career.

Bridge was recognized for the quality and impact of three especially noteworthy Chicagoland projects: Bridge Point 290, Bridge Point Franklin Park, and Bridge Point North Business Park Building III.

The sale will allow Somerset to transform the vacant former AT&T campus into the Chicago region's first “Metroburb,” modeled after its successful NJ version.

“New ownership has the opportunity to renovate and reposition the property in the near term for additional value creation," says Marcus & Millichap's Stephen Lieberman. "Considering the current and future outlook for office space demand in downtown Evanston, ownership should prove to be successful.”

“Chris understands the many nuances of the Chicago retail market and is the right person—with the charisma, skill and network—to help us successfully launch this platform here in the region," says Jim Carris, Colliers' Chicago market leader.

“Arbor was able to step in mid process, due to an outside lender retrade, and close quickly with no lockout on the prepayment,” Arbor's Ryan Duff says.

The portfolio includes four buildings in Chicago, two buildings in Cincinnati, 12 buildings in Columbus, two buildings in Indianapolis, and one building in Louisville.