Property Details for IA Nwc Of Development Dr & Technology Pkwy Cedar Fls

Year built

2024

Lot size

11.79 lot acres

Property size

86,520 SF

Property type

Industrial properties

Property subtype

Distribution centers

Description

This exceptional investment opportunity presents a newly constructed, Class A, 86,520-square-foot industrial distribution facility in Cedar Falls, Iowa. The property is under a 10-year net lease with Frito-Lay, a subsidiary of PepsiCo, Inc., featuring a corporate guarantee and 2% annual rent increases. The building boasts a 32-foot ceiling height, 27 dock-high doors, and ample parking (206 spaces). Situated on an 11.79-acre lot, the facility offers potential for future expansion (approximately 10,000 square feet). Its strategic location provides convenient access to major highways (Interstate 380, US Highways 20, 58, 63, and 218), facilitating efficient distribution throughout Iowa, southern Minnesota, and southwestern Wisconsin. The property benefits from a strong regional economy, a robust labor pool, and proximity to other major distribution centers. The current Net Operating Income (NOI) is $1,550,136, resulting in a 6.15% cap rate, and the asking price is $25,205,000. The lease includes two 5-year renewal options. The tenant is responsible for the maintenance and repair of parking, driveways, hard-surfaced areas, and mechanical and utility systems (excluding HVAC). This is a mission-critical build-to-suit distribution hub for Frito-Lay, a leader in the snack food industry, offering a secure and high-return investment. The building features a concrete tilt-up construction, 51'6" x 50' column spacing (60' in speed bays), and 480V power. The lease commenced November 14, 2024, and expires November 29, 2034. The property is located at the Northwest corner of Development Drive & Technology Parkway, Cedar Falls, IA 50613.

Location Insight

City

Cedar Falls

County

Black Hawk

State

Iowa

Longitude

-92.4847

Latitude

42.477