The Esplanade at Arlington Heights—an 18,419-square-foot retail center at 2920-2964 W. Euclid Avenue, Arlington Heights, Illinois—sold to an out of state investor. Tim Franz and John Livaditis of SVN Chicago Commercial represented the seller in the transaction, a private real estate investment group. After generating multiple offers, the shopping center sold for $4,390,000.
“The Esplanade at Arlington Heights offers a fully stabilized asset with a great tenant mix,” Franz said. “The recent early lease extensions from Starbucks and Subway speak to the strength of the immediate marketplace, which will only improve with the additions of a second luxury residential high rise and Vibe Hotel coming in 2019.”
