Des Moines, IA – Matthews Real Estate Investment Services™, a commercial real estate investment services and technology firm, brokered the acquisition of a new-build Amazon Distribution Center, located at 1301 Southeast Gateway Drive, Grimes, IA. The property, built in 2019, features 109,786 square feet of Class-A industrial space and closed at $17,510,000. Matthews™ First Vice President and Senior Director Alexander Harrold represented the buyer in the transaction. 

After disposing of a downtown L.A. investment, the buyer, a Los Angeles-based family office, bought the distribution center to complete a 1031 Exchange. The client was seeking an investment in the Midwest that provided higher yields compared to California. An all-cash offer was presented to and accepted by the seller. 

“With the explosive growth of e-commerce and Amazon’s dominance in the market, this was a prime opportunity for my client to receive a secure, profitable industrial asset in a growing submarket and business-friendly state,” Harrold said. 

Newmark’s Executive Managing Director Matt Berres, Director Samer Khalil and Associate Karick Brown from the firm’s Irvine, CA office represented the seller in cooperation with Newmark’s Jeffrey Miller.

For more information or to contact Alexander Harrold, please visit www.matthews.com. 

About Matthews™ 

Matthews Real Estate Investment Services™, a commercial real estate investment services and technology firm, holds recognition as an industry leader in investment sales, leasing, and debt and structured finance. Founded in El Segundo, CA, and strategically positioned with over 400 agents and support staff in over 14 offices across the United States, Matthews™ continues to focus on expansion into new markets. For more information, please visit www.matthews.com.

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