Marcus & Millichap Negotiates $13M Sale of Flex Industrial Property in Suburban Chicago

by Kristin Harlow

ARLINGTON HEIGHTS, ILL. — Marcus & Millichap has negotiated the $13 million sale of a 111,667-square-foot flex industrial property in the Chicago suburb of Arlington Heights. Built in 1990, the facility at 545 E. Algonquin Road is fully leased to two long-term tenants. Intertek Testing Services, a global product testing and certification firm, occupies 85 percent of the space and has been a tenant since 2004. GigeNET, a provider of dedicated cloud, hybrid and colocation hosting solutions, occupies the remaining space and has operated at the facility since 2006. Peter Doughty of Marcus & Millichap represented the seller, a private investor. The undisclosed buyer purchased the property at the full list price.

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