{"id":1004567405,"date":"2022-02-15T01:11:00","date_gmt":"2022-02-15T09:11:00","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004567405"},"modified":"2022-12-09T02:45:58","modified_gmt":"2022-12-09T10:45:58","slug":"mesirow-financial-sells-amazon-facility-for-326m","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/mesirow-financial-sells-amazon-facility-for-326m\/","title":{"rendered":"Mesirow Financial Sells Amazon Facility for $326M"},"content":{"rendered":"
\"Amazon<\/a>

500 32nd St. SW. Image courtesy of Avison Young<\/p><\/div>\n

Mesirow Realty Sale-Leaseback Inc., <\/strong>a division of Mesirow Financial, sold an Amazon-leased asset in Polk County. Capital Square 1031<\/strong> has acquired the single-tenant net-lease industrial property totaling 2.7 million square feet in Bondurant, Iowa, for $326.2 million, public records show.<\/p>\n

Avison Young<\/strong>\u2019s Capital Markets Group brokered the sale. The transaction marks the highest recorded sale price in Polk County\u2019s history, according to the Business Record<\/em>. Based on the same source, the long-term lease is set to expire in 2041. Amazon has options to renew the agreement as well as extend the lease term.<\/p>\n

\n

READ ALSO<\/strong>: Net Lease Remains a Viable Play in the Current Environment<\/a><\/p>\n

\n

Ryan Cos. led the development team and Wells Fargo provided construction financing for Amazon\u2019s first fulfillment center in Iowa<\/a>. Located on 167.1 acres at 500 32nd St. SW, the 2020-built facility is within a mile of Highway 65 and Interstate 80. Downtown Des Moines is within 13 miles southwest.<\/p>\n

It takes a village<\/h2>\n

The Avison Young team working on behalf of Mesirow was led by Jonathan Hipp, principal & head of Avison Young\u2019s U.S. Net Lease Group, James Hanson, principal, and Richard Murphy, senior vice president. Co-Managing Partner of 9thGreen Advisors<\/strong>, Earl Webb advised the seller.<\/p>\n

The same team also brokered the $570 million sale of two other Mesirow-owned industrial assets totaling 2.5 million square feet. Those transactions closed in 2020 and included a 1.1 million-square-foot, Amazon-leased property at Fort Worth\u2019s Alliance Airport in Haslet, Texas, according to The Dallas Morning News<\/em>.<\/p>\n

In November, the e-commerce giant continued to expand its industrial portfolio with approximately 3.3 million square<\/a> feet in Minnesota and Alabama. Amazon opened a sortation center in Maple Grove, Minn., and two other facilities in Birmingham, Ala., and Huntsville, Ala., with plans for another two industrial buildings that are scheduled to come online this year.<\/p>\n

Recently, an Amazon-occupied industrial complex traded as part of a 4.5 million-square-foot industrial<\/a> portfolio. CRG sold the five fully leased properties for a combined $425.2 million.<\/p>\n","protected":false},"excerpt":{"rendered":"

The price sets a record for CRE deals in this county.<\/p>\n","protected":false},"author":1763,"featured_media":1004567406,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[22251,21748,21783,13,21742],"tags":[37482,33022,49717,42968],"class_list":["post-1004567405","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-in-focus","category-industrial","category-investment","category-midwest","category-latest","tag-amazon","tag-avison-young","tag-capital-square-1031","tag-mesirow-financial"],"acf":[],"yoast_head":"\nMesirow Sells Amazon-Leased Asset to Capital Square 1031 - CPE<\/title>\n<meta name=\"description\" content=\"Mesirow Financial, represented by Avison Young, sold the Amazon-occupied fulfillment center in Bondurant, Iowa, to Capital Square 1031.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/mesirow-financial-sells-amazon-facility-for-326m\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Mesirow Financial Sells Amazon Facility for $326M\" \/>\n<meta property=\"og:description\" content=\"Mesirow Financial, represented by Avison Young, sold the Amazon-occupied fulfillment center in Bondurant, Iowa, to Capital Square 1031.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/mesirow-financial-sells-amazon-facility-for-326m\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2022-02-15T09:11:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-09T10:45:58+00:00\" \/>\n<meta name=\"author\" content=\"Agota Felhazi\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/02\/500-32nd-St.-SW.-Image-courtesy-of-Avison-Young-e1644925269600.jpg\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/mesirow-financial-sells-amazon-facility-for-326m\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/mesirow-financial-sells-amazon-facility-for-326m\/\",\"name\":\"Mesirow Sells Amazon-Leased Asset to Capital Square 1031 - CPE\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/mesirow-financial-sells-amazon-facility-for-326m\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/mesirow-financial-sells-amazon-facility-for-326m\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/02\/500-32nd-St.-SW.-Image-courtesy-of-Avison-Young-e1644925269600.jpg\",\"datePublished\":\"2022-02-15T09:11:00+00:00\",\"dateModified\":\"2022-12-09T10:45:58+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/bd1ef74130b86a7c6013eaa04b08b28d\"},\"description\":\"Mesirow Financial, represented by Avison Young, sold the Amazon-occupied fulfillment center in Bondurant, Iowa, to Capital Square 1031.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/mesirow-financial-sells-amazon-facility-for-326m\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/mesirow-financial-sells-amazon-facility-for-326m\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/mesirow-financial-sells-amazon-facility-for-326m\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/02\/500-32nd-St.-SW.-Image-courtesy-of-Avison-Young-e1644925269600.jpg\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/02\/500-32nd-St.-SW.-Image-courtesy-of-Avison-Young-e1644925269600.jpg\",\"width\":1335,\"height\":1001,\"caption\":\"500 32nd St. SW. 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