Amazon Last Mile Distribution Building | 2500 Heinz Rd
This feature is unavailable at the moment.
We apologize, but the feature you are trying to access is currently unavailable. We are aware of this issue and our team is working hard to resolve the matter.
Please check back in a few minutes. We apologize for the inconvenience.
- LoopNet Team
thank you
Your email has been sent!
Amazon Last Mile Distribution Building 2500 Heinz Rd
346,062 SF Industrial Building Iowa City, IA 52240 £27,614,999 (£80/SF) 6.67% Net Initial Yield
Investment Highlights
- Amazon's S&P AA- Credit.
- The Property has 840 parking spaces for cars and delivery vans which appeals to Amazon.
- Operational expansion potential within the building.
- Largest Amazon Delivery Station in Iowa.
- Amazon’s shipments have increased significantly due to its same day and next day deliveries.
- Building and/or parking expansion potential on-site.
Executive Summary
For access to the OM, please email Matthew Kingsley (matthew.kingsley@cushwake.com)
Cushman & Wakefield and GLD Commercial are pleased to offer for sale the 346,062± sq. ft. Amazon distribution building on a 37.49-acre site in Iowa City, Iowa. The property has extensive parking for employee cars, delivery vans and truck trailers.
The Property is fully leased to Amazon.com Services LLC and guaranteed by Amazon.com, Inc. (NasdaqGS: AMZN) (S&P: AA-). Amazon uses the facility as a delivery station. Amazon originally signed a 5-year and 5-month lease. Amazon just exercised its first renewal option for a 5-year extension which begins April 1, 2025.
Amazon has two 5-year renewal options. The rent during the renewals will be at fair market rent. We believe Amazon will continue to renew this lease since the property offers abundant parking and expansion potential.
The primary population centers served by the Amazon Iowa City Delivery Station are the Cedar Rapids metro area with approximately 276,000 people and the Iowa City metro area with approximately 175,000 people. The combined population of these two MSA’s is 451,000. Cedar Rapids and Iowa City are only 27 miles apart.
Cedar Rapids has a remarkably diverse set of industries and companies that position the area for healthy growth in the future. The primary industries include defense, financial services, food processing and manufacturing, advanced manufacturing and biosciences. A representative sampling of the companies include Collins Aerospace, Raytheon, Transamerica, Aegon, Quaker Oats, ADM, General Mills, Cargill, Heinz, Ralston, Whirlpool and DuPont to name a few.
Recent and New Activity in Cedar Rapids:
- A Google developer purchased land and started grading for a new $560 million Google data center.
- Sub-Zero is building a $140 million, 614,000 sq. ft. manufacturing facility.
- Alro Steel just completed a 197,000 sq. ft. steel manufacturing facility.
- FedEx Ground recently occupied a new $108 million 480,000 sq. ft. build to suit distribution building.
The University of Iowa, a Big 10 Conference school, is located in Iowa City.
Cushman & Wakefield and GLD Commercial are pleased to offer for sale the 346,062± sq. ft. Amazon distribution building on a 37.49-acre site in Iowa City, Iowa. The property has extensive parking for employee cars, delivery vans and truck trailers.
The Property is fully leased to Amazon.com Services LLC and guaranteed by Amazon.com, Inc. (NasdaqGS: AMZN) (S&P: AA-). Amazon uses the facility as a delivery station. Amazon originally signed a 5-year and 5-month lease. Amazon just exercised its first renewal option for a 5-year extension which begins April 1, 2025.
Amazon has two 5-year renewal options. The rent during the renewals will be at fair market rent. We believe Amazon will continue to renew this lease since the property offers abundant parking and expansion potential.
The primary population centers served by the Amazon Iowa City Delivery Station are the Cedar Rapids metro area with approximately 276,000 people and the Iowa City metro area with approximately 175,000 people. The combined population of these two MSA’s is 451,000. Cedar Rapids and Iowa City are only 27 miles apart.
Cedar Rapids has a remarkably diverse set of industries and companies that position the area for healthy growth in the future. The primary industries include defense, financial services, food processing and manufacturing, advanced manufacturing and biosciences. A representative sampling of the companies include Collins Aerospace, Raytheon, Transamerica, Aegon, Quaker Oats, ADM, General Mills, Cargill, Heinz, Ralston, Whirlpool and DuPont to name a few.
Recent and New Activity in Cedar Rapids:
- A Google developer purchased land and started grading for a new $560 million Google data center.
- Sub-Zero is building a $140 million, 614,000 sq. ft. manufacturing facility.
- Alro Steel just completed a 197,000 sq. ft. steel manufacturing facility.
- FedEx Ground recently occupied a new $108 million 480,000 sq. ft. build to suit distribution building.
The University of Iowa, a Big 10 Conference school, is located in Iowa City.
Property Facts
| Price | £27,614,999 | Number of Floors | 1 |
| Price Per SF | £80 | Year Built | 1971 |
| Sale Type | Investment NNN | Tenancy | Single |
| Net Initial Yield | 6.67% | Parking Ratio | 0.62/1,000 SF |
| Property Type | Industrial | Clear Ceiling Height | 28 ft |
| Property Subtype | Warehouse | No. Dock-High Doors/Loading | 40 |
| Building Class | B | Level Access Doors | 1 |
| Lot Size | 37.49 AC | Opportunity Zone |
Yes
|
| Rentable Building Area | 346,062 SF |
| Price | £27,614,999 |
| Price Per SF | £80 |
| Sale Type | Investment NNN |
| Net Initial Yield | 6.67% |
| Property Type | Industrial |
| Property Subtype | Warehouse |
| Building Class | B |
| Lot Size | 37.49 AC |
| Rentable Building Area | 346,062 SF |
| Number of Floors | 1 |
| Year Built | 1971 |
| Tenancy | Single |
| Parking Ratio | 0.62/1,000 SF |
| Clear Ceiling Height | 28 ft |
| No. Dock-High Doors/Loading | 40 |
| Level Access Doors | 1 |
| Opportunity Zone |
Yes |
Amenities
- Fenced Lot
- Signage
- Storage Space
- Fluorescent Lighting
- Air Conditioning
Utilities
- Gas - Natural
- Water - City
- Sewer - City
- Heating - Gas
1 of 1
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | £10,519,208 | |
| Land Assessment | £1,100,639 | Total Assessment | £11,619,847 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
£1,100,639
Improvements Assessment
£10,519,208
Total Assessment
£11,619,847
zoning
| Zoning Code | Industrial-Heavy |
| Industrial-Heavy |
-
Douglas Longyear -
Cushman & Wakefield
1 of 9
VIDEOS
3D TOUR
PHOTOS
STREET VIEW
STREET
MAP
1 of 1
Presented by
Amazon Last Mile Distribution Building | 2500 Heinz Rd
Already a member? Log In
Hmm, there seems to have been an error sending your message. Please try again.
Thanks! Your message was sent.