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Office Warehouse

2220-2222 Heinz Rd

2220 Heinz Rd, Iowa City, IA 52240

Listing Price: $2,550,000

Cap Rate
9.02%
Lot Size
3.00 acres
Year Built
1998
Rentable SF
34,000

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire the property located at 2220-2222 Heinz Rd, in Iowa City, Iowa, currently leased to Selzer Werderitsch Associates and CCL Label. The subject property consist of 30,000 SF of warehouse space and 4,000 SF of office space while being situated on 3 acres.. The asset features 3 drive-in doors and 3 drive-in bays. Selzer Werderitsch Associates will be leasing back 14,000 SF of space for a term of 3 years. This is a total of 10,000 SF of warehouse space, and 4,000 SF of office space. Founded in 1965, SWA is the oldest, locally-owned general contractor in Johnson County. The company has since expanded its market area, services provided, and overall size. Typical market areas include industrial, commercial, institutional, governmental, and development projects. Since the company’s founding, they have completed over 4,000 projects. SWA is a general contractor, primarily in the market of commercial, institutional, and industrial construction and remodeling. Other markets include residential, medical, education, and government projects. CCL Label has recently extended the term for 1 year. They have extended the lease 3 times in total. The parent company, CCL Industries, earned 5.7 Billion in revenue last year. CCL occupies 20,000 SF of warehouse space. This is a corporate backed lease. A global specialty packaging pioneer, CCL is the largest label company in the world and provides innovative solutions to the Home & Personal Care, Premium Food & Beverage, Healthcare & Specialty, Automotive & Durables and Consumer markets worldwide. The Company is divided into four reporting segments: CCL Label, Avery, Checkpoint, and Innovia. The subject property is located in an industrial park on the southeast side of Iowa City. The University of Iowa is located 4 miles northwest of the building, and Interstate I-80 is located 3 miles due north from the property.

Investment Highlights

  • Triple Net Leases
  • Current owner of the space will be leasing back 14,000 Sf for a total of 3 years
  • 9.02% cap rate on current rents
  • Location comprised of 30,000 SF of warehouse space with 4,000 SF of office space
  • Strong ties to the location. Selzer Werderitsch Associates constructed the building themselves in 1998
  • CCL Label has extended the lease 3 times since the original start date

Broker of Record

  • Jon Ruzicka

    First Vice President Investments

    (952) 852-9700

    License(s) IA: B63379000

    Iowa

Financing By

Office Warehouse

2220-2222 Heinz Rd

Listing Price: $2,550,000

Cap Rate
9.02%
Lot Size
3.00 acres
Year Built
1998
Rentable SF
34,000

Investment Highlights

  • Triple Net Leases
  • Current owner of the space will be leasing back 14,000 Sf for a total of 3 years
  • 9.02% cap rate on current rents
  • Location comprised of 30,000 SF of warehouse space with 4,000 SF of office space
  • Strong ties to the location. Selzer Werderitsch Associates constructed the building themselves in 1998
  • CCL Label has extended the lease 3 times since the original start date

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire the property located at 2220-2222 Heinz Rd, in Iowa City, Iowa, currently leased to Selzer Werderitsch Associates and CCL Label. The subject property consist of 30,000 SF of warehouse space and 4,000 SF of office space while being situated on 3 acres.. The asset features 3 drive-in doors and 3 drive-in bays. Selzer Werderitsch Associates will be leasing back 14,000 SF of space for a term of 3 years. This is a total of 10,000 SF of warehouse space, and 4,000 SF of office space. Founded in 1965, SWA is the oldest, locally-owned general contractor in Johnson County. The company has since expanded its market area, services provided, and overall size. Typical market areas include industrial, commercial, institutional, governmental, and development projects. Since the company’s founding, they have completed over 4,000 projects. SWA is a general contractor, primarily in the market of commercial, institutional, and industrial construction and remodeling. Other markets include residential, medical, education, and government projects. CCL Label has recently extended the term for 1 year. They have extended the lease 3 times in total. The parent company, CCL Industries, earned 5.7 Billion in revenue last year. CCL occupies 20,000 SF of warehouse space. This is a corporate backed lease. A global specialty packaging pioneer, CCL is the largest label company in the world and provides innovative solutions to the Home & Personal Care, Premium Food & Beverage, Healthcare & Specialty, Automotive & Durables and Consumer markets worldwide. The Company is divided into four reporting segments: CCL Label, Avery, Checkpoint, and Innovia. The subject property is located in an industrial park on the southeast side of Iowa City. The University of Iowa is located 4 miles northwest of the building, and Interstate I-80 is located 3 miles due north from the property.

Broker of Record

  • Jon Ruzicka

    First Vice President Investments

    (952) 852-9700

    License(s): IA: B63379000

    Iowa

Financing By

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