Marcus & Millichap brokered the sale of a 6,996-square-foot property net-leased to Just Tires in Arlington Heights, Illinois, according to Joe Powers, regional manager of the firm’s Chicago Downtown office. The asset sold for $1,015,000.
Brian Parmacek and Steve Rachman, investment specialists in Marcus & Millichap’s Chicago Downtown office, had the exclusive listing to market the property on behalf of the seller, a private investor. The buyer, a partnership, was secured and represented by Parmacek, an investment specialist in Marcus & Millichap’s Chicago Downtown office
Located at 221 West Rand Road, Just Tires has over nine years remaining on its current lease term. The asset sits on a highly trafficked retail corridor in an area surrounded by thousands of rental apartments, just east of IL-53.
