Logistics company signs 265,700-square-foot lease in Atloona, Iowa

DES MOINES, November 30, 2022 — VanTrust Real Estate, LLC (VanTrust), a full-service commercial real estate development company, and JLL are pleased to announce that transportation and warehouse services provider JT Logistics has signed a 265,700-square-foot lease for all of Building A of the Altus Commerce Center, a three-building industrial complex located at 2600 20th Ave. SW in Altoona, Iowa. JLL represented both the building owner, VanTrust, and JT Logistics in the transaction.

The high-cube, tax-abated building sits on 16 acres and features 148 parking stalls, 32-foot clear heights, and expandable dock and drive-in doors. The interior finishes also include LED lighting and 7-inch reinforced floor slabs with vapor barriers throughout. This is the first of three buildings to be completed within Altus Commerce Center which will accommodate over 1 million square feet upon completion. The building itself was completed in August 2022.

“The features in this building are exactly what industrial users are looking for today,” remarked JLL Senior Vice President Austin Hedstrom. “While the term ‘flight to quality’ is used often in relation to the office market, there is also a need for high-quality, Class A spaces in the industrial sector. Altus Commerce Center does a great job of filling the demand our market has for warehouse space.”

Totaling 1.1 million square feet, the Altus Commerce Center offers immediate access to Interstate 80 and I-35, as well as Highways 65 and 5. A 25-minute drive from the Des Moines International Airport, it’s also located less than one mile away from a large e-commerce fulfillment center—a significant draw for JT Logistics.

“In the spring of 2021, we entered this market, excited to be expanding into Iowa,” said Grant Harrison, Senior Director of Development at VanTrust. “Now, we are seeing our work come to life with the completion of these high-value buildings. As we welcome tenants like JT Logistics, we look forward to being a part of the continued economic growth of Altoona.”

Located near highly sought-after amenities such as restaurants, retail and entertainment, the Altus Commerce Center is less than two miles from Adventureland Park, Bass Pro Shops and numerous hotels and restaurants in both the Altoona and Bondurant markets.

“JLL has been an integral part of our growth. As a strategic partner of JT Logistics, they have assisted us in 17 real estate transactions over the last three years to increase our local and national footprint by an additional 3.1 million square feet,” stated JT Logistics President and CEO Jamie Cord. “We are proud to work with the JLL team and greatly value their knowledge, skill and dedication by putting us in the best solutions available for our business and our customers.”

According to JLL research, Des Moines will see 3.53 million square feet of industrial projects delivered in 2022. Over 2.5 million square feet will be delivered in the second half of the year. The strength of this market is evident based on many speculative projects underway.

“Des Moines is a well-positioned city, offering developers an ideal location to build speculative projects, such as the Altus Commerce Center,” commented Marcus Pitts, JLL Des Moines managing director. “With flat land, a highly connected interstate system, access to rail and airports and affordability not seen in the coastal or other major markets, our community truly offers the best of both worlds for developers and users alike.”

The remaining two buildings in this complex are currently under construction. Building C is 497,587 square foot cross dock building with an estimated delivery date of December 2022 and Building B is 328,127 square foot rear load building with an estimated delivery date of October 2023. Although activity remains strong throughout the park, both buildings are currently available for lease or purchase.