Recently, Avison Young’s Capital Markets Group sold an Amazon fulfillment facility near Des Moines for a whopping $326,000,000! The transaction is the highest recorded sale in Polk County’s history!
Capital Square, from Richmond Virginia, purchased the 2.7 million square feet four-story building from Mesirow Realty Sale-Leaseback, Inc. The building was incredibly desirable as it is setting the standard for the next generation of industry logistics properties. According to James Hanson, a part of the Avison Young Capital Markets team that represented Mesirow, there was “tremendous interest” from investors in the “innovative facility.” Another member of the Avison Young Capital Markets team, Jonathon Hipp, agreed: “It’s a state-of-the-art Amazon property that plays a critical role in the company’s distribution network and an excellent long-term investment.”
The lease is set to expire in 2041. And, Amazon has the option to renew the agreement and also extend the lease term.
Des Moines commercial real estate sales are turning heads and setting records in Iowa! I’d love to talk to you about buying and selling innovative buildings in and around Des Moines. Feel free to contact me about your commercial real estate needs.
Portions of my blog reference Corridor Business’s article “Amazon facility near Des Moines sells for more than $325 million. Link here: https://corridorbusiness.com/amazon-facility-near-des-moines-sells-for-more-than-325-million/