Iowa firm acquires two buildings in 76 Commerce Center for $85.2M

BRIGHTON — Iowa-based firm Principal Real Estate Investors has purchased two Class-A industrial buildings in the nascent 76 Commerce Center for a total of $85.2 million, according to Adams County property records. 

The buildings, which are located at 22600 and 22700 E. I-76 Frontage Road, total 618,480 square feet. They were completed in 2018 and 2020. The buildings are the first to be completed in the 76 Commerce Center, a 155-acre project that at buildout will feature four buildings totaling more than 1.7 million square feet. The buildings have Class A features throughout, in addition to fenced outside storage, trailer parking and office space.

The other two buildings in the 76 Commerce Center are under construction, and leasing activity for them is underway. 

The sellers for the transaction were Mortenson Properties Inc. and Hyde Development, which are building the project. They were represented by Tyler Carner, Jeremy Ballenger, Jessica Ostermick, Judson Welliver, Sonja Dusil and Bentley Smith of CBRE.

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