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 and loan servicing. We combine industry-leading capabilities with a flexible structure, enabling our national team of experienced professionals to create innovative solutions for clients. Our solid foundation and entrepreneurial approach have built an annual transaction volume of more than $37 billion and a loan servicing portfolio of nearly $76 billion. Through the 2022 acquisition of Stan Johnson Company and Four Pillars Capital Markets, Northmarq introduces clients to expanded opportunities across all major asset classes. To learn more about Northmarq, please visit: