Colliers Chicago’s Jeff Devine and Steve Disse represented a partnership between Sterling Bay Industrial, Development Resources, Inc., and Levy Family Partners in the sale of Butterfield VI Distribution Center, a cross-docked industrial facility located at 2350 Frieder Ln. in Aurora, IL, to an unnamed institutional investment advisor. The sale price was not disclosed.
Built in 2020, the 503,244-square-foot warehouse sits on 34.5 acres and features 36’ clear ceiling height, LED lighting, 52’ by 52’ column spacing and parking for 125 trailers and 286 cars, which is expandable. It is 66% leased to LGSTX Distribution Services.
“E-commerce continues to drive demand for well-located, modern product,” said Devine, a principal with Colliers Chicago and recent honoree (with Disse) in Connect CRE’s Top Broker Awards. “This was an exceptional opportunity for the buyer to acquire an asset with tremendous upside and increase its yield via the building’s remaining vacancy.”
Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism.
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