Nano-sized iron particles were synthesized by reduction of $Fe^{3+}$ in aqueous solution under two reaction conditions, aerobic and anaerobic, and the reactivity of iron was tested by reaction with trichloroethene (TCE) using a batch system. Results showed that iron produced under anoxic condition for both synthesis and drying steps gave rise to iron with higher reduction reactivity, indicating the presence of oxygen is not favorable for production of nano-sized iron deemed to accomplish reactivity enhancement from particle sized reduction. Nano-sized iron sample obtained from the anoxic synthesis condition was further characterized using various instrumental measurements to identity particle morphology, composition, surface area, and particle size distribution. The scanning electron microscopic (SEM) image showed that synthesized particles were uniform, spherical particles (< 100 nm), and aggregated into various chain structures. The effects of other synthesis conditions such as solution pH, initial $Fe^{3+}$ concentration, and reductant injection rate on the reactivity of nano-sized iron, along with standardization of the synthesis protocol, are presented in the companion paper.