Core Industrial Realty completed the sale of a 356,000-square-foot investment property on behalf of building ownership. Located at 2200 Sullivan Road in Aurora, Illinois, the speculative building was developed by Panattoni in 2022 and was 75% leased at the time of closing.
The building has two long-term tenants in place totaling 260,000 square feet and one vacant unit of 96,000 square feet. The purchaser was Ares Management Corporation.
The building features 36’ clear ceilings, ample loading, abundant trailer parking, with office space to suit tenants’ requirements. Total consideration for the project, inclusive of both lease transactions and the sale of the building, exceeded $70 million.
Core Industrial Realty has been retained by Ares Management Corporation as exclusive leasing agent for the building. Principals Noel S. Liston and Nick Krejci facilitated the sale of the building and are leasing agents for Ares.
