Gantry has secured a $20 million loan to refinance a renovated warehouse facility located at 2500 Heinz Road in Iowa City.

The 346,062-square-foot distribution center is 100% leased to Amazon for use as a regional delivery station. The facility occupies a nearly 40-acre site zoned for industrial use with ample parking, trailer storage, and room for expansion.

Gantry’s Tony Kaufmann, Principal, and Joe Foley, Associate, with the firm’s San Francisco production office, represented the borrower, a private real estate investor. The 10-year, fixed-rate, non-recourse loan was secured from a credit union, with terms including partial interest only and no prepayment penalties.

“Industrial property is still a top asset class for loan allocations from a range of debt sources, including life companies, CMBS, banks and credit unions,” said Kaufmann. “Underwriting for this request reflected a recently renewed lease with Amazon as a credit tenant and their substantial dedication to the property.”