Whirlpool’s 750,000-square-foot warehouse in North Liberty this month came under new ownership.
Previous owner Realty Income of San Diego on Feb. 4 sold two parcels composing the 56.24-acre warehouse property, at 720 Alexander Way, to Banker’s Commercial of Los Angeles for $28,067,370, county property records show.
Banker’s Commercial shares its address and multiple executives with MUFG Americas — the U.S. arm of Mitsubishi UFJ Financial Group and parent company of Union Bank.
Representatives of Whirlpool and Mitsubishi did not immediately respond to requests for more information. A representative from Realty Income Corp. declined to comment on the sale, citing industry standard confidentiality.
Built in 2004, the 750,000-square-foot warehouse initially operated as a regional distribution center for Maytag, which leased the property from a real estate investment trust.
Whirlpool acquired Maytag for $2.6 billion in 2006.
Upon its opening, the North Liberty warehouse created 200 jobs, according to a 2005 NAI Iowa Realty Commercial real estate report.
Benton Harbor, Mich.-based Whirlpool, which also operates a refrigerator plant in Amana, employs more than 2,500 people in the Corridor, according to statistics from the Cedar Rapids Metro Economic Alliance.
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