Phoenix Investors Picks Up Iowa Facility

510 E. Agency Road. Image courtesy of Phoenix Investors

Phoenix Investors has purchased a 365,640-square-foot industrial property in West Burlington, Iowa, for $5.8 million, according to Des Moines County public records.

The new ownership is marketing the property for lease. In partnership with the City of West Burlington, Phoenix Investors will transform the facility into a high-quality industrial product, West Burlington City Administrator Gregg Mandsager said in prepared remarks.

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Located at 510 E. Agency Road, the two-story building features a clear height between 24 and 33 feet, a 22,500-square-foot office component, two external dock doors, one drive-in door, reinforced concrete floors, ample column spacing and 675 vehicle parking spots. Additionally, the property offers divisible floorplates of up to 50,000 square feet and has a production area of nearly 263,000 square feet.

Situated on an approximately 39-acre lot and built in 1955, the warehouse is close to highways 34 and 61, allowing easy access to Cedar Rapids, Iowa, Des Moines, Iowa, St. Louis, Peoria, Ill., and Chicago. With immediate access to The Burlington Junction Railroad, the industrial property is 1.5 miles north from the BNSF Mainline, making it a sought-after location for logistics users.

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Phoenix Investors’ leasing brokers in charge of the asset are Senior Vice President of Acquisition & Leasing Kurt Jensen and Director of Acquisition & Leasing Patrick Dedering. The property provides a good leasing opportunity, with immediate occupancy, for transportation and other businesses looking for good-quality industrial product, Dedering commented in prepared remarks.

Phoenix Investors had a busy 2022, with multiple investments. In July, the company signed a purchase agreement for Fujifilm’s South Carolina manufacturing campus, a 500-acre property totaling 2.5 million square feet of space across five facilities. In December 2022, the company picked up a 3 million-square-foot industrial campus in Gadsen, Ala. Built in 1929, the facility is the former home of a Goodyear Tire & Rubber Co. manufacturing plant.