Core Industrial Realty sells 356,000 SF spec development in Aurora, IL along with several Q4 transactions

Oak Brook, IL based Core Industrial Realty has completed several Q4 2024 transactions.

Sale of 356,000 SF Speculative Development in Aurora, Illinois

Core Industrial Realty has recently completed the sale of a 356,000 square foot investment property on behalf of building ownership. Located at 2200 Sullivan Road in Aurora, Illinois, the speculative building was developed by Panattoni in 2022 and was 75% leased at the time of closing. The 356,000 SF building has two long-term tenants in place totaling 260,000 SF and one vacant unit of 96,000 SF. The purchaser was Ares Management Corporation. The building features 36’ clear ceilings, ample loading, abundant trailer parking, with office space to suit tenants’ requirements. Total consideration for the project, inclusive of both lease transactions and the sale of the building, exceeded $70,000,000. Core Industrial Realty has been retained by Ares Management Corporation as exclusive leasing agent for the building. Principals Noel S. Liston and Nick Krejci facilitated the sale of the building and are leasing agents for Ares.

Additional Q4 Transactions Completed by Core Industrial Realty:

• Principal Matthew Lee completed multiple sale transactions including the sale of an 85,000 SF building on 15 acres of land located at 225 W. Burville Road in Crete, IL. Matthew also represented the purchaser of 3935 Commerce in Saint Charles, IL.

• Principal Nick Krejci represented American Bear Logistics in their lease of 43,000 SF.

• Noel Liston and Nick Krejci represented Venture One in their long-term lease of a stand-alone 20,000 SF building at 470 Wrightwood in Elmhurst, IL.

• Principal Frank Damato has completed multiple lease transactions including the lease of 25,000 sf at 940 Kingsland Drive, Batavia, IL on behalf of tenant, Complete Fence Inc. Frank also represented tenant GT Express in their lease of 19,000 SF at 11351 W. 183rd Street in Orland Park, IL.

• Broker Parker Ray completed multiple lease transactions including representing tenant Zfan Technologies in their lease of 19,000 SF at 740 Industrial Drive in Cary, IL and Parker leased a 21,000 SF building at 721 Martin Drive in South Elgin, IL on behalf of building ownership.

• Broker Ryan Mullins represented tenant The Golf Practice in their lease of 15,000 SF at 4995 Varsity Drive in Lisle IL.