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Phoenix Buyers has bought a 365,640-square-foot industrial property in West Burlington, Iowa, for $5.8 million, based on Des Moines County public information.
The brand new possession is advertising and marketing the property for lease. In partnership with the Metropolis of West Burlington, Phoenix Buyers will remodel the ability right into a high-quality industrial product, West Burlington Metropolis Administrator Gregg Mandsager stated in ready remarks.
READ ALSO: Frank Crivello: What’s Industrial Actual Property?
Positioned at 510 E. Company Highway, the two-story constructing includes a clear top between 24 and 33 ft, a 22,500-square-foot workplace element, two exterior dock doorways, one drive-in door, strengthened concrete flooring, ample column spacing and 675 car parking spots. Moreover, the property affords divisible floorplates of as much as 50,000 sq. ft and has a manufacturing space of practically 263,000 sq. ft.
Located on an roughly 39-acre lot and in-built 1955, the warehouse constructing is near highways 34 and 61, permitting quick access to Cedar Rapids, Iowa, Des Moines, Iowa, St. Louis, Peoria, Sick., and Chicago. With rapid entry to The Burlington Junction Railroad, the commercial property is 1.5 miles north from the BNSF Mainline, making it a sought-after location for logistics customers.
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Phoenix Buyers’ leasing brokers in control of the asset are Senior Vice President of Acquisition & Leasing Kurt Jensen and Director of Acquisition & Leasing Patrick Dedering. The property gives a superb leasing alternative, with rapid occupancy, for transportation and different companies searching for good-quality industrial product, Dedering commented in ready remarks.
Phoenix Buyers had a busy 2022, with a number of investments. In July, the corporate signed a purchase order settlement for Fujifilm’s South Carolina manufacturing campus, a 500-acre property totaling 2.5 million sq. ft of area throughout 5 services. In December 2022, the corporate picked up a 3 million-square-foot industrial campus in Gadsen, Ala. In-built 1929, the ability is the previous dwelling of a Goodyear Tire & Rubber Co. manufacturing plant.
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