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Research and Development

Collins Aerospace (Raytheon Technologies - Parent Co) - Cedars Rapids, IA

1100 Cimmie Ave NE, Cedar Rapids, IA 52402

Listing Price: $10,950,000

Cap Rate
8.04%
Gross SF
474,804
Price/Gross SF
$23.06
Lot Size
10.90 acres
Year Built
2005
Rentable SF
100,329

Investment Overview

R&D Property In Excellent Condition ±100,000 Square Foot Building Situated on Nearly 11 Acres of Land Built-To-Suit Property for Collins Aerospace that was Constructed in 2005 – The Subject Property is Collins’ Facility Where R&D For Rotary Avionics and Aeronautics is Conducted Mission Critical Facility Adjacent to Collins Aerospace’s 2.6 Million SF Avionics & Mission Systems Headquarters Campus Collins Aerospace is the Largest Employer in Cedar Rapids With 9,000 Employees Across Its Cedar Rapids and Coralville Facilities Pride Of Ownership Property In Cedar Rapids, IA Dense, Infill Area with Over 132,000 Residents Within 5 Miles Cedar Rapids is the 2nd Largest City in The State of Iowa with a Population Exceeding 133,000 Residents | The City Has Experienced A 9% Growth in Population Over the Last Decade Alone Located In the Rapidly Growing City Of Cedar Rapids, IA – 6.84% Projected Population Growth From 2021-2026 Within A 1-Mile Radius of the Subject Property Strong Average Household Income Of $94,625 Within a 5-Mile Radius Cedar Rapids Is Undergoing New Major Developments Including a $64 Million Mixed-Use Project that will Include Four Commercial Buildings and Nearly 400 Residential Units. This Project Is Expected to Be Completed In December 2024 And Is Expected To Bring “More Housing To A City Where Demand For It Exceeds Supply And More Jobs To A Growing Part Of Town” Construction Also Began In 2020 On A Bae System $139 Million Classified Aerospace Defense Facility Located in Cedar Rapids, Iowa Local Developers Currently Have a Proposed $71 Million Mixed-Use Development That Will Include Residential Units, Mixed-Use Retail Space, And A Boutique Hotel The Cedar Rapids-Iowa City “Technology Corridor” is One of The Leading Centers in the Country for the Defense Electronics Industry, the Fastest-Growing Segment of the Metropolitan Area Economy Corporate Guaranteed Lease Tenant Has Been Consistently Extending the Lease and Operating Successfully at This Location For 16+ Years NNN Lease With Minimal Landlord Responsibilities – Ideal For Investors Not Local To The Market E-Commerce And Recession Proof Tenant Excellent Opportunity to Invest in a Tenant with a Nationwide Presence at a Location with a Long Operating History Collins Aerospace Had 2020 Revenues Of $19.3 Billion And Currently Employs Over 71,000 People Across 300 Facilities in 30 Countries Raytheon Technologies is an Investment Grade Tenant With a Credit Rating Of A- (S&P) and a Market Cap of $137B

Investment Highlights

  • Recently Exercised 3-Year Renewal Option Extending Lease Into September 2024
  • Recent Roof Replacement Completed in 2020
  • Collins Aerospace is a Subsidiary of Raytheon Technologies (NYSE: RTX), Who Employs 181,000 People With Annual Revenue Of $64.4 Billion

Broker of Record

  • Jon Ruzicka

    First Vice President Investments

    (952) 852-9700

    License(s) IA: B63379000

    Iowa

Research and Development

Collins Aerospace (Raytheon Technologies - Parent Co) - Cedars Rapids, IA

Listing Price: $10,950,000

Cap Rate
8.04%
Gross SF
474,804
Price/Gross SF
$23.06
Lot Size
10.90 acres
Year Built
2005
Rentable SF
100,329

Investment Highlights

  • Recently Exercised 3-Year Renewal Option Extending Lease Into September 2024
  • Recent Roof Replacement Completed in 2020
  • Collins Aerospace is a Subsidiary of Raytheon Technologies (NYSE: RTX), Who Employs 181,000 People With Annual Revenue Of $64.4 Billion

Investment Overview

R&D Property In Excellent Condition ±100,000 Square Foot Building Situated on Nearly 11 Acres of Land Built-To-Suit Property for Collins Aerospace that was Constructed in 2005 – The Subject Property is Collins’ Facility Where R&D For Rotary Avionics and Aeronautics is Conducted Mission Critical Facility Adjacent to Collins Aerospace’s 2.6 Million SF Avionics & Mission Systems Headquarters Campus Collins Aerospace is the Largest Employer in Cedar Rapids With 9,000 Employees Across Its Cedar Rapids and Coralville Facilities Pride Of Ownership Property In Cedar Rapids, IA Dense, Infill Area with Over 132,000 Residents Within 5 Miles Cedar Rapids is the 2nd Largest City in The State of Iowa with a Population Exceeding 133,000 Residents | The City Has Experienced A 9% Growth in Population Over the Last Decade Alone Located In the Rapidly Growing City Of Cedar Rapids, IA – 6.84% Projected Population Growth From 2021-2026 Within A 1-Mile Radius of the Subject Property Strong Average Household Income Of $94,625 Within a 5-Mile Radius Cedar Rapids Is Undergoing New Major Developments Including a $64 Million Mixed-Use Project that will Include Four Commercial Buildings and Nearly 400 Residential Units. This Project Is Expected to Be Completed In December 2024 And Is Expected To Bring “More Housing To A City Where Demand For It Exceeds Supply And More Jobs To A Growing Part Of Town” Construction Also Began In 2020 On A Bae System $139 Million Classified Aerospace Defense Facility Located in Cedar Rapids, Iowa Local Developers Currently Have a Proposed $71 Million Mixed-Use Development That Will Include Residential Units, Mixed-Use Retail Space, And A Boutique Hotel The Cedar Rapids-Iowa City “Technology Corridor” is One of The Leading Centers in the Country for the Defense Electronics Industry, the Fastest-Growing Segment of the Metropolitan Area Economy Corporate Guaranteed Lease Tenant Has Been Consistently Extending the Lease and Operating Successfully at This Location For 16+ Years NNN Lease With Minimal Landlord Responsibilities – Ideal For Investors Not Local To The Market E-Commerce And Recession Proof Tenant Excellent Opportunity to Invest in a Tenant with a Nationwide Presence at a Location with a Long Operating History Collins Aerospace Had 2020 Revenues Of $19.3 Billion And Currently Employs Over 71,000 People Across 300 Facilities in 30 Countries Raytheon Technologies is an Investment Grade Tenant With a Credit Rating Of A- (S&P) and a Market Cap of $137B

Broker of Record

  • Jon Ruzicka

    First Vice President Investments

    (952) 852-9700

    License(s): IA: B63379000

    Iowa

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