Arlington Heights, Illinois, is a village that boasts a thriving retail scene, making it an ideal location for businesses looking to establish a strong presence. With a population of approximately 80,000 people, Arlington Heights offers a diverse customer base for retailers. The village's downtown area has experienced significant development in recent years, with new restaurants, condos, and businesses emerging. This growth is supported by the village's infrastructure, including transportation services like Metra's Union Pacific Northwest Line and Pace bus service, as well as major roads like Arlington Heights Road, Northwest Highway, and Rand Road. Additionally, the Arlington Heights Police Department and the Arlington Heights Memorial Library are crucial public service entities in the city.
With 43 retail spaces for lease in Arlington Heights, businesses have a range of options to choose from. The average annual rent per square foot is $17 USD, with sizes ranging from 200 square feet to 12,982 square feet. In addition to retail spaces, Arlington Heights also offers restaurants, medical offices, and office spaces for lease. Restaurants in Arlington Heights benefit from the village's entertainment venues, such as the Metropolis Performing Arts Centre, and notable landmarks like Lake Arlington and Mitsuwa Marketplace. Medical offices in the area are supported by major healthcare providers like Northwest Community Hospital. Office spaces in Arlington Heights are ideal for businesses looking to establish a presence in the village's growing Central Business District. Overall, Arlington Heights offers a unique blend of amenities, infrastructure, and location, making it an attractive destination for businesses and travelers alike.
What is the average cost per square foot for retail space in Arlington Heights?
In Arlington Heights, the average annual rent per square foot for retail space is $17 USD.
How do anchor tenants affect surrounding retail space leases?
Anchor tenants, such as department stores or supermarkets, can significantly impact surrounding retail space leases in Arlington Heights, where there are currently 43 available listings, by driving foot traffic and attracting customers to the area, thereby increasing the desirability and potential profitability of nearby retail spaces, which can lead to higher lease rates and more competitive terms, with average annual rent per square foot at $17 USD and average space size at 3,077 square feet, with options ranging up to 12,982 square feet.
