Colliers Arranges Sale of I-88 Gateway Logistics Center in Aurora

Colliers has arranged the sale of the I-88 Logistics Center at 1200 Orchard Gateway in Aurora, Illinois. Jeff Devine and Steve Disse of Colliers represented an institutional real estate advisor in the sale to an undisclosed financial institution.

“This building presented an opportunity to make a safe investment in a high-quality logistics facility at a price substantially below the cost to replace,” said Devine, vice chairman and principal in the Chicago office.

Developed by Opus North Development in 2015, the state-of-the-art distribution facility features 604,556 square feet of Class A space and is designed for multi-tenant divisibility. At the time of sale, the asset was 100% leased to Ryder Logistics on a lease through 2027.

The center is strategically located at the I-88 and Orchard Road interchange, with immediate highway access. The I-88 Corridor remains a desirable location for industrial and logistics users, with a vacancy rate under 4% at the end of Q1.