Minneapolis-based Endeavor Development has broken ground on the first phase of its I-80 Distribution Center at 451 9th St. NE in Altoona, Iowa, with a completion date for the 300,000-square-foot building of the first quarter of 2023.
This speculative warehouse development, totaling 900,000 square feet in three phases, adds to Endeavor’s expanding portfolio in Central Iowa. Endeavor previously started construction in April on the 180,000-square-foot I-35 Distribution Center in Ankeny, Iowa, which is set to deliver in the fourth quarter of 2022.
JLL is leading the leasing efforts for both the Altoona and Ankeny projects and JLL’s Minneapolis Capital Markets team of David Berglund, Colin Ryan and Scott Loving responsible for arranging debt and equity for the projects.
The I-80 Distribution Center sits on 50 acres of prime industrial land in Altoona and will feature three buildings, each offering 300,000 square feet of Class-A industrial space. The I-80 Distribution Center is located minutes from Des Moines’ central business district via Interstate 80 and is near more than 11,000 households. This prime location provides prospective tenants with unmatched access to customers and potential employees while making it an ideal fit for last-mile and local distribution companies.
Both the I-80 Distribution Center and I-35 Distribution Center offer 32-foot clear heights, robust trailer and vehicle parking, ample dock and drive-in doors, ESFR, 2,000 Amps of 480V/3-Phase power and LED lighting.