
DSM Infill Industrial Center
Southeast 15th Street 357, Des Moines, IA, 50317, US
118,080 sf
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 Performance Food Group (NYSE: PFGC), arguable the largest food-service provider in North America and Canada ranking #84 on the Fortune 500 list in 2024 with over $58 Billion in revenue. With nearly 7-years of lease-term remaining (LXD 7/31/32) and two (2) 5-year options, investors receive a long-term passive investment with minimal landlord obligations due to the triple-net (NNN) recovery structure secured by a reputable Fortune 500 company 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, 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.