The Doughty Industrial Group of Marcus & Millichap is pleased to present for sale the fee-simple offering of 545 E Algonquin Road, Arlington Heights, Illinois. The subject property is a 111,667 square-foot flex R&D/Data Center facility that is currently 100% occupied by two tenants. The property is located 5 miles from O’Hare International Airport and sits directly off the Interstate 90 and Arlington Heights Road interchange.
Built in 1990, the subject property is currently 100% occupied by two tenants; Intertek Testing Services and GigeNET. Intertek (OTCMKTS: IKTSY) who has a current market cap of $7.75+ billion, is a product testing and certification company. They occupy 85% of the GLA and have been a tenant at the facility since 2004 showing continued long-term commitment. GigeNET is a leading full-service provider dedicated, cloud, hybrid, and colocation hosting solutions. Occupying 15% of the GLA, GigeNET has been a tenant at the property since 2006.
The purchase of this offering provides any investor with a stable and cash-flowing asset that has both credit and committed tenancy. At the current list price of $13,000,000 the offering generates an NOI of $1,041,879 which equates to a capitalization rate of 8.01%.