Investment Overview

Marcus & Millichap is pleased to present this Penske Truck Leasing property located in Peosta, Iowa, an exurb of Dubuque, Iowa. The subject property is a 9,600-square-foot facility sitting on 4.08 acres located off U.S. Highway 20 on Cox Springs Road. Penske has occupied this space since 2019. This is a built-to-suit, full-service truck and leasing maintenance facility featuring concrete tilt-wall construction with three bays. There are approximately five years remaining on a Triple Net (NNN) lease with two, five-year renewal options. Peosta is a fast-growing community in the Dubuque, Iowa Metropolitan Statistical Area. Peosta is located approximately 167 miles west of Chicago, 206 miles south of Minneapolis, 264 miles north of St. Louis, and just 10 miles to the west of the Mississippi River. The city of Peosta is situated along U.S. Highway 20, which offers connections to interstates 35, 80, and 350 as well as quick access to regional metropolitan areas including Dubuque and Cedar Rapids. Situated at the intersection of Iowa, Illinois, and Wisconsin, the community of Dubuque, Iowa, stands among the Mississippi River Bluffs as a metropolitan service area for seven surrounding counties. Employers in Dubuque draw from the labor force in the Iowa Counties of Dubuque, Clayton, Delaware, Jones, and Jackson counties, as well as Grant County in Wisconsin and Jo Daviess County in Illinois. The greater Dubuque area commands a central North American location in the heart of the Midwest, a convenient distance from major urban areas and large consumer markets. Penske Truck Leasing is a leading global transportation services provider, operating and maintaining more than 390,000 vehicles and serving customers from more than 3,000 locations in North America, South America, Europe, Australia and Asia. Product lines include: full-service truck leasing, contract maintenance, commercial and consumer truck rentals, used truck sales, transportation and warehousing management and supply chain management solutions.