
Allen Media Broadcasting - Mason City, IA
112 North Pennsylvania Avenue, Mason City, IA, 50401, US
$5,939,000
Jones Lang LaSalle America, Inc. ("JLL"), as the exclusive advisor, proudly presents the opportunity to acquire the 100% fee simple interest in Regency West Office Park (the "Property" or "Opportunity"), an 8-building office park totaling 616,351 RSF in the prestigious West Des Moines submarket. Regency West Office Park benefits from superior connectivity and accessibility given its prime West Des Moines location that puts it just off of I-80 and I-235 and a 10-minute drive from Downtown Des Moines.
At 33.9% occupancy with 2.9 years of remaining average lease term (“WALT”), the Property provides an investor with the opportunity to acquire a premier office park at a substantial discount to replacement cost and significantly increase NOI through the lease up of 407,000 RSF. With over $8.8 million of capital invested since 2012, ownership has meticulously maintained and transformed the Property. Additionally, the Property’s development/redevelopment potential into healthcare, multi-family housing, retail, hotels, or service-oriented businesses creates additional value. All inquiries regarding this value-add office park should be directed to JLL.
Local Iowa Contacts:
Justin Lossner
Marcus Pitts