Annapolis, Md. (January 25, 2022) – Realterm announces the acquisition of a final mile warehouse located at 703-709 W. Algonquin Road, Arlington Heights, Ill. Originally built in 2019, the 192,488-square-foot property was renovated and expanded in 2021, is fully leased, sits on 15.4 acres and has 50 loading positions across multiple sides of the building.
“The Chicago market represents an integral part of our Central U.S. portfolio. This acquisition bolsters our existing footprint and serves as an ideal example of the types of functional facilities that we pursue in irreplaceable locations,” said Rob Moriarty, Associate Vice President, Central Region Acquisitions, Realterm.
Located in a central industrial hub minutes from 1-90 and I-290, 703-709 W. Algonquin Rd. offers easy access via north/south and east/west thoroughfares to downtown Chicago and the surrounding suburbs. The prime location is only 10 minutes from O’Hare International Airport and Chicago’s railway hubs.
“The property’s highly functional layout, central U.S. location and nearby transportation options create attractive logistics efficiencies for tenants,” said Stephen Panos, Senior Vice President and Fund Manager, Realterm. “This is a great example of our continuing strategy to acquire the most functional final mile delivery facilities in the top U.S. markets.”
Highlights of the property include:
- Square feet: 192,488 SF
- Land area: 15.40 acres
- Loading positions: 50
- Access: I-90 and I-290