An affiliate of Phoenix Investors acquired a four-property portfolio spanning Nebraska, Iowa and Indiana.
The portfolio was built and occupied by Eaton Corporation, an intelligent power management company doing business in more than 170 countries.
The property at 300 E 39th Street in Hastings, Nebraska features 107,940 square feet of industrial and office space, two cranes and clear heights up to 28 feet heated by two Hastings air rotation units. The property also provides parking for up to 150 vehicles, outdoor storage, and proximity to I-80.
Renovated in 2019, the property at 700 Luick’s Lane in Belmond, Iowa, is comprised of 270,500 square feet on over 25 acres with mezzanine levels and offices throughout. The property also features clear heights up to 40 feet and ample room for parking; it is conveniently located just 16 miles from I-35.
The property at 201 Brandon Lane in Auburn, Indiana is comprised of 345,000 square feet, including 15,000 square feet of office space on over 17 acres. The site allows easy truck access from State Road 8, sits only 15 miles from Fort Wayne, and features ample land for future development opportunities. The adjacent property at 518 Michigan Avenue is comprised of approximately 15,000 square feet on an 8.27-acre parcel; both properties are conveniently located just one mile from the I-69 interchange.
The transaction was brokered by Adam Wolinetz, Director – Transaction Management of CBRE.