Jeff Busse

Cedar Rapids IA Commercial for Sale

Net Rent on 88% of the building currently occupied averages about $827,000/year over current lease term(s). Buyer also receives a material value-add opportunity related to the 12,000 SF currently vacant. Largest Tenant (66,000 SF) is Constellation Software, which has just under seven years left on their Lease term and is a publicly traded company. Other Tenants are the Gazette (17,240 SF) and a 5,000 SF Seller leaseback premises. Seller leaseback premises is adjacent to the vacant premises and that Lease will contain a Landlord termination option designed to increase flexibility related to marketing the vacant premises. Over a 9.5% cap rate on current rents, plus significant value-add potential upside related to the vacant space.

Cedar Rapids IA Commercial for Lease

Flex space. 14' x 12' overheard door in front, dock door with leveler in rear. 25' x 25' office, unisex restroom. Owner shareholder is licensed Iowa real estate broker.

Cedar Rapids IA Commercial for Lease

High bay, insulation-sandwiched tilt-up concrete panel warehouse; 40'x40' bay spacing, 25' sidewalls. Six dock high doors and one 12'x14' O/H drive-in door, plus framing for three additional dock high doors. Higher energy efficiency than most new construction: Membrane roof with a layer of rigid insulation filling and over the original standing seem steel roof with original 6" interior bat insulation. 1,600 SF interior office/meeting room build-out, including plumbing for kitchen facility. Upgraded electric service: 200 amps of 480 volt service, plus 200 amps 120/208 volt, 3-phase service. Great frontage exposure along 33rd Ave SW with two large pylon sign panels available. Will sub-divide and/or owner will amortize improvements over lease term. Shareholder of owner is a Licensed real estate professional.

Marion IA Commercial for Sale

Great 1031 exchange Investment: 9% cap rate on avg rent for 5-year term starting 2/1/2024. $4.14/SF average NN base rent is below market. New exterior walls and insulation added in 2010 and a new membrane roof installed in 2021, almost doubling the R-value. Four dock high and two drive-in doors. Concrete building foundation extends four feet up warehouse sidewall for durability. New interior office buildout in 2011 at beginning of Tenant's occupancy. Tenant (CLEAResult) works primarily with electric utilities and is the largest provider of emission-reducing energy efficiency solutions in NA, with over 2,400 employees in more than 60 cities. CLEAResult is owned by private equity firm TPG; with about $67 billion of assets. Principal of owner is a licensed broker in the state of Iowa.