The newly constructed 2.68-million-square-foot facility is located near Des Moines, Iowa

DES MOINES, Iowa– Avison Young’s Capital Markets Group today announced that it has brokered the sale of a single-tenant net-leased property totaling more than $325 million of value and representing 2.68 million square feet (MSF).  The Amazon leased, AR Sort Fulfillment Center property was sold subject to an existing long-term lease and zero-cash flow financing structure.

Capital Square of Richmond Virginia purchased the newly constructed four-story facility from Mesirow Realty Sale-Leaseback, Inc..  Mesirow’s Sale-Leaseback Capital team has completed transactions with value and size in excess of $8 billion and 23 million square feet, respectively with rated and non-rated publicly-traded companies, foreign corporations, and strong privately-held companies.

The Avison Young Capital Markets team representing Mesirow included Jonathan Hipp, Principal and Head of Avison Young’s U.S. Net Lease Group; James Hanson, Principal; and Richard Murphy, Senior Vice President.  Earl Webb, Co-Managing Partner of 9^th Green Advisors, also advised Mesirow on the sale. This same team represented Mesirow in two other zero cash flow property transactions totaling over $560 million that sold in 2020.

“We were proud to once again represent Mesirow and offer investors the opportunity to acquire this premier Amazon facility,” Hipp said. “It’s a state-of the-art Amazon property that plays a critical role in the company’s distribution network and an excellent long-term investment.”

“We had tremendous interest from investors and others interested in this innovative facility, one that sets the standard for a new generation of industry logistics properties,” Hanson added. “We thoroughly enjoyed working with Mesirow and are thrilled with the result.”

The property is located in Bondurant, a city northeast of Des Moines. It sits across the street from a 270,000-square-foot Amazon Sortation Facility, demonstrating Amazon’s long-term commitment to the area.