555 9th Street Northeast, Altoona, IA, 50009, US

I-80 Distribution Center - Altoona

Attributes

Building area net

27,871 sm

Year built

2023

Clear height

9.75 m

Asset description

JLL presents an exceptional value-add opportunity in the Des Moines, Iowa metro area, featuring a brand-new 300,000 square foot spec industrial property in Altoona. This state-of-the-art facility boasts cutting-edge design and construction, featuring 32-foot clear heights, ESFR sprinkler systems, ample dock and drive-in doors, and an expansive 185-foot truck court. Located in a prime submarket with robust growth and low vacancy rates, the property offers strategic access to major highways. The site presents significant lease-up potential. Built to the highest standards with premium materials, this energy-efficient building offers low maintenance costs and flexible configurations to accommodate various tenant needs.

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Investment highlights

High-Quality, New Construction Specifications:

32’ clear height
Built in 2023
LED high-bay lighting providing 30 foot-candles at 3’ above finished floor
185’ truck court
ESFR sprinkler system
2,000 s.f. open plan spec offices in each building (expandable)
66 trailer parking stalls

Strong Market Fundamentals:

Low industrial vacancy rate of 6.9% in Des Moines
91.1% of under-construction space pre-leased
YTD net absorption of 1,005,836 s.f.

Value-Add Opportunity:

Currently 0% occupied, offering significant leasing upside
Flexible configurations to accommodate various tenant needs

Strong Corporate Presence:

Des Moines’ diverse economic base, including finance, insurance and agribusiness, supports long-term industrial demand
Located near major companies such as Facebook, Bridgestone, Kreg Tool, and John Deere