Panattoni Development Company announced the completion and sale of a 356,462-square-foot Class A industrial warehouse at 2200 Sullivan Road in Aurora, Illinois. The property was sold to Ares for $46.34 million.
Developed in partnership with Mar-Gulf Management Inc. and MDI Capital, LLC, the international real estate subsidiaries of Kuwait Financial Centre, the project broke ground in March 2022 and was completed in June 2023. Located on 29.56 acres in the I-88 corridor, the site offers direct access to Interstate 88 via the Orchard Road interchange.
“This project reflects our focus on delivering well-located industrial facilities that meet market demand,” said John Pagliari, Partner with Panattoni. The Sullivan Road facility was designed by Harris Architects and constructed by Alston Construction. The building is currently 73 percent leased to two tenants and features 36-foot clear heights, 34 exterior docks, two drive-in doors, and extensive trailer and auto parking.
