Stan Johnson Company Completes Sale of Flex Building in Chicago Area for $11.4 Million
Tulsa, Oklahoma, August 9, 2018 – Stan Johnson Company, one of the nation’s premier net lease brokerage firms, has completed the sale of a two-tenant flex building located in Arlington Heights, Illinois to New York-based Crystal Acquisitions, a private buyer, for $11.4 million.
Located at 545 East Algonquin Road, the 111,667-square-foot building is 85 percent leased to Intertek, which has self-funded a highly specialized interior build-out. A data center operator occupies the remaining 15 percent of the building as their headquarters.
Stan Johnson Company’s John Zimmerman and Craig Tomlinson represented the seller, which was a joint-venture between Minneapolis-based Biynah Partners and Baltimore-based Alex Brown Realty, a privately-owned real estate investment manager.
“With Stan Johnson Company’s comprehensive marketing strategy, the property’s premier suburban location, and the credit quality of the tenant, we were able to secure a wide range of investor interest, particularly from private, non-institutional bidders, many of which were not based in the Chicago metro area,” said Zimmerman, Director in Stan Johnson Company’s Tulsa office. “The property is in a desirable infill location, minutes from Interstate 94 which provides easy access to Chicago’s O’Hare International Airport and surrounding communities.”
About Stan Johnson Company:
Stan Johnson Company is one of the nation’s leading commercial real estate brokerage and advisory firms that focuses exclusively on net lease transactions involving retail, office, industrial, healthcare and sale leaseback properties. The firm provides acquisition, disposition, capital markets and advisory services for institutions, developers, investment funds and private investors across the United States. Now in its fourth decade of service as a trusted advisor to its valued clients, Stan Johnson Company has completed more than $30 billion in transactions nationwide and is regarded as the Net Lease Authority®. To learn more about Stan Johnson Company, please visit the recently enhanced website at www.stanjohnsonco.com.