A joint venture between Alex. Brown Realty Inc. and Sydney Partners LLC has acquired the Merchants Distribution Plaza Industrial Park in Des Moines, Iowa, for an undisclosed amount.

ABR Chesapeake Fund III, a value-added real estate investment fund sponsored by ABR, provided an equity commitment of $1.6 million to the venture.

The property, which was constructed in 1980 on a 15-acre parcel, includes two single-story concrete block buildings totaling 260,000 square feet. Located in a western suburb of Des Moines, the park is less than one mile from both Interstate 80 and Interstate 35.

The joint venture plans to implement $500,000 in capital improvements to enhance the property’s value and overall marketability.

This is the second in an expected series of transactions between ABR and Sydney, who plan to invest up to $25 million in a portfolio of small to mid-sized industrial properties located throughout the Midwest. Prior to acquiring the Merchants Distribution Plaza, the joint venture acquired a 365,750-square-foot industrial park in Indianapolis, Ind.


What’s your opinion? Send your Letter to the Editor to opinion@inman.com.

Show Comments Hide Comments


Sign up for Inman’s Morning Headlines
What you need to know to start your day with all the latest industry developments
By submitting your email address, you agree to receive marketing emails from Inman.
Thank you for subscribing to Morning Headlines.
Back to top
Only 3 days left to register for Inman Connect Las Vegas before prices go up! Don't miss the premier event for real estate pros.Register Now ×
Limited Time Offer: Get 1 year of Inman Select for $199SUBSCRIBE×
Log in
If you created your account with Google or Facebook
Don't have an account?
Forgot your password?
No Problem

Simply enter the email address you used to create your account and click "Reset Password". You will receive additional instructions via email.

Forgot your username? If so please contact customer support at (510) 658-9252

Password Reset Confirmation

Password Reset Instructions have been sent to

Subscribe to The Weekender
Get the week's leading headlines delivered straight to your inbox.
Top headlines from around the real estate industry. Breaking news as it happens.
15 stories covering tech, special reports, video and opinion.
Unique features from hacker profiles to portal watch and video interviews.
Unique features from hacker profiles to portal watch and video interviews.
It looks like you’re already a Select Member!
To subscribe to exclusive newsletters, visit your email preferences in the account settings.
Up-to-the-minute news and interviews in your inbox, ticket discounts for Inman events and more
1-Step CheckoutPay with a credit card
By continuing, you agree to Inman’s Terms of Use and Privacy Policy.

You will be charged . Your subscription will automatically renew for on . For more details on our payment terms and how to cancel, click here.

Interested in a group subscription?
Finish setting up your subscription