Jones Lang LaSalle retained to market 500,000-square-foot complex in Iowa
September 16, 2010 | Staff Writer | Print Article | Email this Article
Jones Lang LaSalle has been retained by Terex Corporation to market a 500,000-square-foot office, heavy manufacturing and warehousing complex located in Cedar Rapids, Iowa.
Jones Lang LaSalle’s executive vice president Chris Clayton and senior associate Chris Watts will lead marketing efforts, partnering locally with Scott Olson/Doug Laird at Skogman Commercial at the Penthouse.
The office, manufacturing and distribution facility is located on a 50-acre site allowing for various expansion and development scenarios. Existing infrastructure includes a 50-ton lift, 56-foot ceiling height, on-site rail and heavy electrical and natural gas capacity, with outside cranes and outside storage capabilities.
“The list of industrial assets of this size and caliber, especially with its high-bay cranes, is extremely limited in the Cedar Rapids area, and would provide strong competitive advantage to a manufacturing, renewable energy or wind turbine company,” said Clayton. “As an infill site, the complex could also be redeveloped for a multitude of uses, leveraging its substantial acreage, strategic location and easy divisibility.”
The complex is strategically located in close proximity to the Eastern Iowa Airport and Interstate-380. Various TIF financing and other municipal incentives may be available to qualified recipients. Its listed sale price is about $5.5 million. The facility is available for occupancy immediately.
Tags | Cedar Rapids, industrial, Iowa, Jones Lang LaSalle, Manufacturing, Office
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