Press Releases
Marcus & Millichap Arranges $13M Sale of Flex Industrial Property in Arlington Heights, Illinois
June 02, 2025
ARLINGTON HEIGHTS, Ill., June 2, 2025 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of 545 E. Algonquin Road, a 111,667 square-foot flex industrial property in Arlington Heights, Illinois. The property sold for $13 million.
“This opportunity was on market for just one day and traded at full list price, showing the high demand for well-located flex industrial assets in the Chicagoland area,” said Peter Doughty, first vice president investments. “The property not only provides the buyer with immediate stable returns but also with future upside potential through targeted tenant improvements. We continue to see strong investor interest in industrial and flex properties across the region, especially those offering scale, location, and quality tenancy.”
Doughty, investment specialist in Marcus & Millichap’s Chicago Downtown office, had the exclusive listing to market the property on behalf of the seller, a private investor.
Built in 1990, the property is fully leased to two long-term tenants. Intertek Testing Services, a global product testing and certification firm, occupies 85% of the space and has been a tenant since 2004. GigeNET, a provider of dedicated, cloud, hybrid and colocation hosting solutions, occupies the remaining 15% and has operated from the facility since 2006. The building is located five miles from O’Hare International Airport, directly off the Interstate 90 and Arlington Heights Road interchange.
“This opportunity was on market for just one day and traded at full list price, showing the high demand for well-located flex industrial assets in the Chicagoland area,” said Peter Doughty, first vice president investments. “The property not only provides the buyer with immediate stable returns but also with future upside potential through targeted tenant improvements. We continue to see strong investor interest in industrial and flex properties across the region, especially those offering scale, location, and quality tenancy.”
Doughty, investment specialist in Marcus & Millichap’s Chicago Downtown office, had the exclusive listing to market the property on behalf of the seller, a private investor.
Built in 1990, the property is fully leased to two long-term tenants. Intertek Testing Services, a global product testing and certification firm, occupies 85% of the space and has been a tenant since 2004. GigeNET, a provider of dedicated, cloud, hybrid and colocation hosting solutions, occupies the remaining 15% and has operated from the facility since 2006. The building is located five miles from O’Hare International Airport, directly off the Interstate 90 and Arlington Heights Road interchange.
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About Marcus & Millichap, Inc. (NYSE: MMI)
Marcus & Millichap, Inc. is a leading brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services with offices throughout the United States and Canada. As of December 31, 2024, the company had 1,712 investment sales and financing professionals in over 80 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The company also offers market research, consulting and advisory services to clients. Marcus & Millichap closed 7,836 transactions in 2024, with a sales volume of approximately $49.6 billion. For additional information, please visit www.MarcusMillichap.com.
