Real Estate

Dealpoint Merrill Pays $4M For Former Kmart In Iowa

by cpexecutive.com posted 7months ago 33 views
The new owner plans to repurpose the asset into a Class A self storage facility with 1,125 units. : DealPoint Merrill LLC has purchased a 12-acre property in Urbandale, Iowa, from Signature Commercial Real Estate. According to public records, the former Kmart shopping center sold for $4 million. The new owner plans to reposition the asset as a self storage facility. The site will be home to a 131,000-square-foot, Class A self storage center with 1,125 climate-controlled units. The property will also feature two retail pads.

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