Liberty Property Trust has signed a long-term lease with KapStone Paper & Packaging Corp. at Butterfield III, 2759 N. Eola Road, in Aurora. The lease, for 192,000 square feet of industrial space, brings the 506,000-square-foot building to 100 percent occupancy.
“We are very excited to welcome KapStone to our Chicago portfolio,” said Neal Driscoll, vice president and director of leasing and development for the Liberty Illinois region. “Equally exciting is the dramatic increase in activity along the I-88 corridor in the past three months, particularly with larger users such as KapStone. It’s been a terrific start to the new year.”
KapStone moved into the building this month after renovations to accommodate the tenant’s manufacturing needs were completed. The fit-out included the installation of additional dock and rail car doors, a design center and employee amenities.
Colliers International represented both the tenant and Liberty in the lease transaction. Krusinski Construction Co. of Oak Brook served as the general contractor. The project architect is Kwasek Architects.
Butterfield III, built in 2001, is located on 25 acres of land at Butterfield Distribution Center in Aurora. The building is also home to long-time tenant Menlo Logistics. In total, Liberty owns 13 industrial buildings in and around Aurora with the ability to develop an additional 1.6 million square feet of class A industrial space in four building pad sites.
