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Arlington Heights Flex Industrial Sells After One Day on Market

Marcus & Millichap closed the sale of 545 E. Algonquin Rd., a 111,667-square-foot flex industrial property in Arlington Heights, IL. 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 VP 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, marketed 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 and GigeNET. 

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Marcus & Millichap's Doughty

About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

  • ◦Sale/Acquisition
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