Marcus & Millichap, a leading commercial real estate investment services firm with offices throughout the United States and Canada, announced the sale of Starbucks | Chicago MSA, a 2,650-square foot net-leased property located in Arlington Heights, IL, according to Steven D. Weinstock, Vice President/ Regional Manager of the firm’s Chicago Oak Brook office. The asset sold for $2,272,000.
Austin Weisenbeck, Aaron Baum and Sean R. Sharko, investment specialists in Marcus & Millichap’s Chicago Oak Brook office, had the exclusive listing to market the property on behalf of the seller, a local developer.
Starbucks | Chicago MSA is located at 1808 South Arlington Heights Road in Arlington Heights, IL and sold at 100 percent of its original list price. The subject property is an approximately 2,650-square foot, single tenant building with a drive-thru. This location is a retrofit of an existing building with a new 10 year corporate lease with Starbucks Corporation.
The Starbucks is located at the very busy intersection of Arlington Heights Road and Golf Road; on the morning side of traffic flow, where the average daily vehicle counts are over 65,000 driving by the property. The surrounding retail trade area is home to many local and national retailers including: Aldi, McDonald’s, Chase Bank, Meijer, Staples, Walmart, Lowe’s and many others.
