Panattoni Development Company has recently announced the successful completion and sale of a state-of-the-art industrial warehouse in Aurora, Illinois. The Class A property, located at 2200 Sullivan Road, spans over 356,462 square feet and was sold to Ares for a total of $46.34 million.
The project was developed in collaboration with Mar-Gulf Management Inc. and MDI Capital LLC – both international real estate subsidiaries of Kuwait Financial Centre. Groundbreaking for the project took place in March 2022 and it was completed by June 2023 on a spacious site measuring 29.56 acres along the I-88 corridor.
One of its key features is its direct access to Interstate-88 via the Orchard Road interchange making it an ideal location for businesses looking to establish their presence in this thriving area. Currently sitting on prime land that offers easy connectivity within major transportation routes, this building boasts impressive specifications such as clear heights reaching up to 36 feet tall; exterior docks numbering at least thirty-four; two drive-in doors; as well as ample parking space designated specifically for trailers or automobiles.
According to John Pagliari – Partner with Panattoni – “This development showcases our commitment towards delivering strategically positioned industrial facilities that cater perfectly towards market demand.” Harris Architects were responsible for designing this modern facility while Alston Construction handled all construction work involved during its creation process.
In conclusion: Panattoni has successfully completed construction work on their latest warehouse facility situated along Sullivan Road which spans over an impressive area totaling more than three hundred thousand square feet before finalizing negotiations with new owners who paid forty-six million dollars upon purchase.
