$77.5 Million Non-Performing Office Loan
US - Washington, DC
$77,500,000 | 306,859 sf
5005 N. River Blvd NE is a 109,042 square foot office building situated on an 11.37-acre site in Cedar Rapids, Iowa. The Property is located on the northwest side of Cedar Rapids just off Collins Road with easy access to the major thoroughfares I-380 and Lincoln Highway. There are numerous recreation and entertainment options in the immediate area and downtown Cedar Rapids is only 5 miles from the Property. The location also offers convenient access to the Eastern Iowa Airport, about a 20 minute drive via I-380.
Originally built in 1998, the Property has undergone significant upgrades to both its interior and exterior structure.
Within the last five years major improvements include: $3 million interior refresh, new boiler, replacement of fire alarm system panel & components, and a roof replacement in 2021.
The quality of the current improvements provides the opportunity for an investor to purchase a move-in ready Property.