Core-Mark Mid-America Distribution Center _Property for Sale
Core-Mark Mid-America Distribution Center _Property for Sale

Core-Mark Mid-America Distribution Center

1751 US-30, Carroll, IA, 51401, US

Description

Jones Lang LaSalle (“JLL”), as exclusive advisor to ownership, has been retained to market for sale the fee-simple interest in the Core-Mark Mid-America Distribution Center (the “Offering” or the “Property”), a 451,603 square foot temperature-controlled distribution facility 100% leased to Core-Mark (the “Company”), a leading food supplier for convenience retailers across North America. Since 2021, Core-Mark has become the face of the “Convenience” brand for parent company & guarantor, Performance Food Group (NYSE: PFGC), arguably the largest food-service provider in North America, ranking #84 on the Fortune 500 list in 2024 with over $58 billion in revenue. Following a recently executed 15-year lease extension, investors receive a long-term passive investment with accretive annual growth secured by a guarantee from a reputable Fortune 500 guarantor with strong financial performance.


Strategically positioned at the crux of Midwest America in central Iowa, this highly functional distribution facility serves the entire Midwest through the ability to reach major cities, including Chicago, Minneapolis, Kansas City, etc. ~nearly 50M people within a single day’s truck drive. Additionally, the Offering includes six (6) satellite support facilities working in tandem with the Property to serve lower-populated areas throughout upper Iowa and North & South Dakota, that rely heavily on convenience retailers due to a lack of free-standing grocers. With 20% temperature-controlled space within the facility, a brand-new roof, 42 dock doors, and nearly 11 acres of designated trailer parking, the Property presents a unique combination of functional distribution specifications combined with specialized cold-storage capabilities. Core-Mark Mid-America Distribution Center presents investors the opportunity to acquire a long-term cash-flowing investment in mission-critical, cold-storage space at a basis significantly below replacement cost backed by a publicly traded, Fortune 500 company with strong financial growth and a healthy balance sheet.

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Attributes

Year built
1997
Year renovated
2025
Rentable area
41,955 m²
Clear height
9.75 m
WALT
14.9 years

Media

Investment Highlights

  1. NNN Lease | minimal landlord obligations | 2025 roof
  2. Recently executed 15-Year lease extension with guarantee from parent-entity, Performance Food Group (NYSE:PFGC)
  3. 3.0% annual rent escalations with two (2) 5-year fair-market renewal options
  4. Mission-critical tri-temperature controlled distribution facility
  5. Extremely low cost-basis for a specialized cold-storage facility
Core-Mark Mid-America Distribution Center  4_Property for Sale
Core-Mark Mid-America Distribution Center  4_Property for Sale

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Core-Mark Mid-America Distribution Center (0 Properties)

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Last updated
19 Aug 2025