The 2023 midyear market outlook for the Cedar Rapids metro brings continued low vacancy in the industrial submarket, with stable vacancy in the central business district (CBD) office and retail markets and continued growth in the suburban office market vacancy.
A SAMPLE OF SIGNIFICANT TRANSACTIONS — ANNOUNCED, IN PROGRESS, COMPLETED OR TRADED
Sold — 1925 Blairs Ferry Road NE, Cedar Rapids — 21,184 former Rexco Equipment building
Sold — 1203 & 1204 9th Street SW, Cedar Rapids — 55,728 SF vacant building sold to an investor
Sold — 222 3rd Street SE, Cedar Rapids — Guaranty Bank, World Theatre and Dragon Restaurant sold as an adaptive reuse for boutique hotel conversion or housing
Announced — 3851 River Ridge Drive NE, Cedar Rapids — 104 multifamily units on the 2nd through 4th floors with 1st-floor enclosed parking — $18,500,000 development
Announced — 116 16th Avenue SE, Cedar Rapids (Vesnice) —85 multifamily units with roof and garden terraces — $23,700,000 development
In Progress — 100 Boyson Road, Hiawatha (The Crossing on Boyson) — 196 luxury apartment homes in seven 28-unit buildings
Sold — 850 Twixt Town Road NE, Cedar Rapids — former Perfect Game USA facility sold for $1,350,000
Contact us to discuss your questions regarding the 2023 midyear market outlook Cedar Rapids Metro or your commercial real estate requirements.
Disclaimer – Real estate data herein was acquired through the Cedar Rapids Area Association of Realtors MLS, Cedar Rapids Assessor, Linn County Assessor and local media outlets. All information furnished in this report is obtained from sources deemed in our opinion to be reliable but not guaranteed. Transactions in bold through the market outlook denotes GLD Commercial team member involvement.