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Chicago & Midwest  + Greater Chicagoland  + Industrial  |  January 21, 2025
Jasmine Kilman
By: Jasmine Kilman

Panattoni Completes Build, Finalizes Sale of Aurora Warehouse for $46M

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.

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About Jasmine Kilman

Jasmine Kilman is Content Director of Connect Commercial Real Estate, covering Chicago and greater Chicagoland, the Midwest, Seattle, and the Pacific Northwest. She covers industry trends, transaction deals, market research, and produces daily news stories. With experience in marketing and communications for academic nonprofits and corporate clients, including Hearst Media, Hilton, and Coldwell Banker, Kilman has written about commercial real estate, environmental, social, and corporate governance (ESG), technology, healthcare, and philanthropy. She was born and raised in California and graduated with a degree in public relations. In her spare time, Kilman enjoys hiking and traveling to new locations with her family.
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