Amazon 7200 Chavenelle Rd 120,800 SF 4-Star Industrial Building Dubuque, IA 52002 $13,892,000 ($115/SF) 5% Cap Rate

The Offering
CBRE, as exclusive advisor to Owner, is pleased to present the opportunity to acquire the fee-simple interest in a ±120,800 SF single tenant NNN leased industrial distribution facility. The property is 100% occupied by Amazon (NASDAQ: AMZN), a global leader in e-commerce, cloud computing (AWS), digital streaming, artificial intelligence, and logistics with 2024 annual revenues of ±$638 B, an investment grade S&P credit rating (AA), and the #2 ranking in the Fortune Global 500. Built in 2007, and heavily improved ($16 M + cap ex) by Amazon in 2021/2022, the ±120,800 SF building sits on a large 13.91-acre parcel. The building possesses state-of-the art features ideal for modern logistics operators.

In early 2025, Amazon proactively renewed the lease an additional five (5) years to August of 2031 = ± 5.33 years remaining (as of 4/1/26 analysis start date).The Dubuque site is a mission critical last mile facility which ties directly into Amazon’s major strategic push to aggressively invest in mid-sized logistic hubs across the Midwest to offer rapid delivery in smaller markets and compete directly with Walmart’s historical dominance / market share in these areas.

Investment Highlights
HIGHLY SECURED LEASE W/ AMAZON | CREDIT TENANT | 2ND LARGEST COMPANY IN THE WORLD

— The property is 100% leased to Amazon (NASDAQ : AMZN), a global leader in e-commerce, cloud computing (AWS), digital streaming, artificial intelligence, and logistics with 2024 Annual Revenues of ± $638 B and an S&P Credit Rating = AA (Investment Grade Credit). Amazon is the #2 company in Fortune Global 500 (2nd Largest company in the world in terms of revenue).

“STICKY TENANT” | RECENT FIVE (5) YEAR EXTENSION | NNN LEASE | 2% ANNUAL INCREASES

— Amazon completed major capital improvements of over $16 M on the building / site in 2021/2022. Improvements included replacement of all HVAC units, new office areas, and expanding the parking lot. the property possesses state-of-the-art features which meet the current and future demands of high-flow logistics operations.

— Amazon recently demonstrated their strong commitment to the site by proactively exercising an option to extend the lease an additional five (5) years to August of 2031. There are ±5.33 years remaining (as of 4/1/26 analysis start date) creating a highly secured / long term income stream. Amazon has three (3) five (5) year options remaining.

MISSION CRITICAL MIDWEST “LAST MILE” DISTRIBUTION FACILITY = KEY AMAZON STRATEGY

— Amazon’s presence at 7200 Chavenelle Rd underscores its steadfast commitment to strengthening distribution capabilities in secondary Midwest markets.The Dubuque facility enables Amazon to accelerate last-mile delivery, reduce transportation costs, and improve service levels for rural and suburban customers..

HIGH CONNECTIVITY LOCATION & SOLID UNDERLYING INDUSTRIAL REAL ESTATE FUNDMAENTALS

— High Connectivity Location: Direct access to U.S. Route 20, 52, and 61 providing seamless access to Amazon’s last mile delivery customers in the region.

— I-80 Corridor: The property possesses proximity to the vital I 80 corridor: Iowa’s premier east-west logistics corridor, where approximately 14,000 trucks traverse daily translating to efficient, high-volume freight flow to major markets like Chicago, Minneapolis, and St. Louis in under a day.