Panattoni Achieves Milestone With Sale of Aurora Industrial Facility

Panattoni Development Company has announced the completion and subsequent sale of a 356,462-square-foot Class A industrial warehouse located at 2200 Sullivan Road in Aurora, Illinois. The property, now sold to Ares for $46.34 million, exemplifies Panattoni's strategic emphasis on developing high-quality, well-situated industrial facilities. The development was a collaborative effort involving partners Mar-Gulf Management Inc. and MDI Capital, LLC, connected to the Kuwait Financial Centre. Construction of the facility began in March 2022 and concluded by June 2023, featuring state-of-the-art design from Harris Architects and construction by Alston Construction. Positioned strategically along the I-88 corridor, the site benefits from substantial logistical advantages with its proximity to major transportation networks. The facility, which is currently 73 percent leased, boasts impressive infrastructure capabilities including 36-foot clear heights and a wealth of docking and parking options to accommodate a range of tenant needs. This transaction underscores a robust market for Class A industrial spaces in strategic locations and reflects Panattoni's commitment to meeting market demand effectively.