Grimes Distribution Center
1350 SE Gateway Drive, Grimes, IA
5 Buildings, 550,000 SF
$56.0 Million
Project Started: June 2008
Project Completed: November 2019
Services Offered
- Development
- General Contracting
Capital Stack
- Private Equity
- Bank Debt
- TIF
Sale Price: Buildings I-IV – $28,250,000; Building V – $13,600,000
Sale Date: Buildings I-IV – April 2020; Building V – October 2020
Located at the crossroads of Interstates 80 and 35, the five-building Grimes Distribution Center provides regional and national clients industrial space with a great location and modern amenities. All five buildings were constructed with an Early Suppression Fast Response (ESFR) fire sprinkler system, as well as large docking bays and glass front entries. These speculative industrial buildings were built to fulfill a need in the Grimes community and are now serving multiple industries and clients in the region.
Notably, Grimes Distribution Center V is the last industrial building in the Grimes Industrial Park, with direct frontage along Highway 141. The project distinguished itself from the other industrial properties in the area with its taller clear heights, significant glass on the facade, prominent entry features, increased parking and modern color and patterning. Amazon first leased the space as a delivery station in fall 2019, and Hubbell sold the building a year later.
Notably, Grimes Distribution Center V is the last industrial building in the Grimes Industrial Park, with direct frontage along Highway 141. The project distinguished itself from the other industrial properties in the area with its taller clear heights, significant glass on the facade, prominent entry features, increased parking and modern color and patterning. Amazon first leased the space as a delivery station in fall 2019, and Hubbell sold the building a year later.
