ARLINGTON HEIGHTS -- An affiliate of Next Realty, LLC has acquired Arlington Executive Plaza, a medical and general office complex consisting of six, single-story buildings located at 3335--3385 N. Arlington Heights Road in Arlington Heights.
Terms of the acquisition were not disclosed.
The six buildings at Arlington Executive Plaza total approximately 62,500 square feet of space and are situated on more than 6.2 acres of land. The property is 90 percent leased, nearly half of which are tenants who specialize in medical related fields.
"Given the diverse nature of the tenant mix, the investment presents an opportunity to acquire a stable revenue stream and generate an attractive yield for our investors," says Branko Kuzmanovic, director of acquisitions of Skokie-based Next Realty.
Tony Lombardo of PSI represented the Seller in the transaction. The acquisition was financed by Wintrust Bank.