Northmarq Brokers Sale of Iowa Manufacturing Facility for $8.3 Million

403 South 8th Street-Montezuma-Iowa

Northmarq, one of commercial real estate’s leading investment sales brokerage firms, has completed the sale of a single-tenant industrial building leased to Dieomatic Incorporated, a subsidiary of Magna International, which is a leading tier one global automotive supplier. The 194,267-square-foot manufacturing building is located at 403 South 8th Street in Montezuma, Iowa. Rob Gemerchak, SIOR/CCIM of Northmarq, represented the seller, a New York-based private investment firm. The buyer, an individual investor based in Des Moines, Iowa, acquired the asset for $8.3 million. 

“We received strong interest from investors who recognized the mission-critical nature of the facility as well as the intrinsic value the full-scale manufacturing capabilities provided to the real estate,” said Gemerchak, Director in Northmarq’s Toledo, Ohio office. “Industrial manufacturing facilities with interstate access and a proximate employment base remain a very attractive segment within the net lease marketplace as vacancies are low, demand is strong and lease rates continue to increase for these production-capable facilities.” 

The well-maintained building sits on 14.9 acres and features ceiling heights to 50 feet, 40-ton cranes, heavy power capacity, multiple truck docks and high-quality offices. The tenant is a major employer within Montezuma, situated on the Interstate 80 corridor between Iowa City and Des Moines. The lease features a triple net expense structure and a long-term tenant commitment. 

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About Northmarq:

Northmarq is a full-service capital markets resource for commercial real estate investors, offering seamless collaboration with top experts in debt, equity, investment sales, loan servicing, and fund management. The company combines industry-leading capabilities with a flexible structure, enabling its national team of experienced professionals to create innovative solutions for clients. Northmarq's solid foundation and entrepreneurial approach have built an annual transaction volume of more than $39 billion and a loan servicing portfolio of more than $76 billion. Through the 2022 acquisition of Stan Johnson Company and Four Pillars Capital Markets, Northmarq established itself as a provider of opportunities across all major asset classes. For more information, visit: www.northmarq.com.