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IowaIndustrial

Avison Young brokers sale of Amazon facility in Des Moines market for $325 million

February 16, 2022
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Avison Young’s Capital Markets Group has brokered the sale of a single-tenant net-leased property totaling more than $325 million of value and representing 2.68 million square feet.  The Amazon-leased AR Sort Fulfillment Center property was sold subject to an existing long-term lease and zero-cash flow financing structure. The building is located in Bondurant, a city located northeast of Des Moines, Iowa.

Capital Square of Richmond Virginia purchased the newly constructed four-story facility from Mesirow Realty Sale-Leaseback, Inc..  

The Avison Young Capital Markets team representing Mesirow included Jonathan Hipp, Principal and Head of Avison Young’s U.S. Net Lease Group; James Hanson, Principal; and Richard Murphy, Senior Vice President.  Earl Webb, Co-Managing Partner of 9thGreen Advisors, also advised Mesirow on the sale. This same team represented Mesirow in two other zero-cash-flow property transactions totaling over $560 million that sold in 2020. 

The property sits across the street from a 270,000-square-foot Amazon Sortation Facility, demonstrating Amazon’s long-term commitment to the area. 

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