Gantry secured a $20 million loan to refinance a renovated warehouse facility at 2500 Heinz Road in Iowa City, Iowa.
The 346,062-square-foot distribution center is 100% leased to Amazon for use as a regional delivery station serving the Cedar Rapids and Iowa City MSAs from a logistically efficient location with ready access to I-80 and I-380, key interstate freeway arterials serving Eastern Iowa.
The facility occupies a nearly 40-acre site zoned for industrial use with ample parking, trailer storage, and room for expansion.
Gantry’s Tony Kaufmann, Principal, and Joe Foley, Associate, with the firm’s San Francisco production office represented the borrower, a private real estate investor. The 10-year, fixed rate, non-recourse loan was secured from a credit union selected from Gantry’s extensive roster of lenders, with terms including partial interest only and no prepayment penalties.
