{"id":1004250512,"date":"2018-08-10T09:25:30","date_gmt":"2018-08-10T17:25:30","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004250512"},"modified":"2022-12-08T06:52:04","modified_gmt":"2022-12-08T14:52:04","slug":"stan-johnson-sells-chicago-area-flex-building","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/stan-johnson-sells-chicago-area-flex-building\/","title":{"rendered":"Stan Johnson Arranges Sale of Chicago-Area Flex Building"},"content":{"rendered":"<div id=\"attachment_1004250515\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/08\/545-E.-Algonquin-Road.jpg\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004250515\" data-attachment-id=\"1004250515\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/stan-johnson-sells-chicago-area-flex-building\/545-e-algonquin-road\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/08\/545-E.-Algonquin-Road.jpg\" data-orig-size=\"1000,800\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"545 E. Algonquin Road\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;545 E. Algonquin Road&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/08\/545-E.-Algonquin-Road.jpg?w=1000\" class=\"wp-image-1004250515 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/08\/545-E.-Algonquin-Road.jpg\" alt=\"\" width=\"300\" height=\"240\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/08\/545-E.-Algonquin-Road.jpg 1000w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/08\/545-E.-Algonquin-Road.jpg?resize=300,240 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/08\/545-E.-Algonquin-Road.jpg?resize=768,614 768w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004250515\" class=\"wp-caption-text\">545 E. Algonquin Road<\/p><\/div>\n<p>Stan Johnson Co. has completed the sale of a 111,667-square-foot flex building located in Arlington Heights, Ill. The buyer, Crystal Acquisitions, paid $11.4 million for the asset, which was previously owned by a joint venture between Biynah Partners and Alex Brown Realty. Stan Johnson\u2019s Directors John Zimmerman and Craig Tomlinson, represented the seller in the transaction.<\/p>\n<p>The property is located at 545 E. Algonquin Road in a desirable infill area off Interstate 94. It is 85 percent leased to Intertek, which added special interior upgrades following the transaction. The rest of the space represents the headquarters of Gigenet, a data center operator. Other tenants in the area include Grainger Industrial Supply, Allied Building Products and Advance Mechanical Systems. Chicago O\u2019Hare International Airport is approximately 10 miles away.<\/p>\n<p>According to Yardi Matrix, the property is subject to an $8.5 million loan originated by Benefit Street Partners. The last time the asset changed hands was 10 years ago, when Alex Brown\u2014also <a href=\"https:\/\/www.commercialsearch.com\/news\/east-bay-industrial-business-park-changes-hands\/\">the owner of The Eden Landing Business Park<\/a> in Hayward, Calif.,\u2014bought it from ACG Equities for almost $7 million.<\/p>\n<p><em>Image courtesy of Yardi Matrix \u00a0<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Crystal Acquisitions paid $11.4 million for the Arlington Heights asset, which is fully occupied by two tenants: Intertek and Gigenet.  <\/p>\n","protected":false},"author":242,"featured_media":1004250515,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1491,21743,21748,21783,13,21742],"tags":[32946,37719,32877],"class_list":["post-1004250512","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-chicago","category-deals","category-industrial","category-investment","category-midwest","category-latest","tag-alex-brown-realty-inc","tag-biynah-industrial-partners","tag-stan-johnson-company"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - 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