An unidentified private investment group has purchased a 1 million-plus-square-foot industrial building in Cedar Rapids, Iowa, for approximately $36.6 million.

The seller, Worley Land Co. LLC, has leased the warehouse to PepsiCo subsidiary Quaker Sales & Distribution Co., which remains at the property on a 15-year lease.

Originally built in 1999, the property is “currently being expanded,” according to a principal at Lee & Associates LA North/Ventura Inc., the brokerage that handled the deal.

Show Comments Hide Comments

Comments

Sign up for Inman’s Morning Headlines
What you need to know to start your day with all the latest industry developments
Success!
Thank you for subscribing to Morning Headlines.
Back to top
We're here to help. Free 90-day trial for new subscribers.Click Here×