Graham Group to develop site for warehouses in Altoona
![https://www.businessrecord.com/wp-content/uploads/2022/12/crumb-headshot-scaled-e1670257078527.jpg https://www.businessrecord.com/wp-content/uploads/2022/12/crumb-headshot-scaled-e1670257078527.jpg](https://www.businessrecord.com/wp-content/uploads/2022/12/crumb-headshot-scaled-e1670257078527.jpg)
Michael Crumb Jan 17, 2024 | 7:35 am
1 min read time
299 wordsAll Latest News, Real Estate and DevelopmentThe Graham Group Inc. plans to develop land for three build-to-suit warehouses in Altoona, just north of Facebook’s data center campus, the company’s president said.
Doug Den Adel, Graham Group’s president, said Graham bought four houses that had to be moved adjacent to the site and purchased the ground from the RDB Trust for $6.5 million. That deal closed in October.
Den Adel said the development agreement with the city of Altoona is in place and sewer lines are going in at the site.
“So we’re basically ready to go,” he said.
Den Adel said the site is 75 acres. The current design is to build 1.3 million square feet of warehouse space. The site is being advertised on the commercial real estate site Loopnet.
Under the proposed plan, the first building would be 405,000 square feet; the second, 340,000 square feet; and the third, just under 550,000 square feet.
While the plan calls for three buildings to be constructed, there is flexibility to meet the needs of a tenant, Den Adel said.
“Right now, we’re proposing a three-building complex, but if somebody came and said we want a bigger building, we’d change it up,” Den Adel said.
Developing the site is in line with what Den Adel said is the continued industrial growth he expects to see in the northeast corridor between Ankeny, Bondurant and Altoona.
“We like the northeast corridor for true industrial warehouse,” he said. “If you look at the big bulk of bigger boxes and so forth, that’s kind of in the northeast corridor of that Ankeny, Bondurant, unincorporated Polk County, that type of area. So that’s why we’re focused on that way because that’s where we think the warehouse labor is at.”
![https://www.businessrecord.com/wp-content/uploads/2022/12/crumb-headshot-scaled-e1670257078527.jpg https://www.businessrecord.com/wp-content/uploads/2022/12/crumb-headshot-scaled-e1670257078527.jpg](https://www.businessrecord.com/wp-content/uploads/2022/12/crumb-headshot-scaled-e1670257078527.jpg)
Michael Crumb
Michael Crumb is a senior staff writer at Business Record. He covers real estate and development and transportation.