Marcus & Millichap Facilitates Sale of 22,155 Square Foot Industrial Flex Property in Chicago Suburb

VERNON HILLS, Ill., Sept. 19, 2024 - Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of 825 Corporate Woods Parkway, a single-tenant industrial flex property located in Vernon Hills, Illinois. The property sold for $2.4 million.

"This transaction underscores the strong demand for well-located industrial assets in the Chicago suburban market," said Peter Doughty, first vice president investments. "We were able to secure competitive offers and negotiate a deal that aligned with both the seller's strategic goals and the buyer's investment criteria. The sale of this property is a testament to the continued appetite for industrial properties in high-demand areas like Vernon Hills."

Doughty and Brent Holder, investment specialists in Marcus & Millichap's Chicago Downtown office, had the exclusive listing to market the property on behalf of the seller, a private partnership based out of California, and procured the buyer, a local Chicagoland investor. Steven Weinstock, Broker of Record in Illinois, assisted in closing the transaction.

The 2.36-acre property is situated within the Corporate Woods business park in Chicago's northern suburbs. Fully leased to Eastek International Corporation, a global manufacturing services company, the property includes 12,129 square feet of office space and 10,026 square feet of warehouse space. Built in 1998, the asset offers convenient access to Interstate-94, O'Hare International Airport and downtown Chicago.

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About Marcus & Millichap, Inc. (NYSE: MMI)

Marcus & Millichap, Inc. is a leading brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services with offices throughout the United States and Canada. As of December 31, 2023, the company had 1,783 investment sales and financing professionals in over 80 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The company also offers market research, consulting and advisory services to clients. Marcus & Millichap closed 7,546 transactions in 2023, with a sales volume of approximately $43.6 billion. For additional information, please visit www.MarcusMillichap.com.