REBusinessOnline

Stahl to Construct $28M Elementary School in Urbandale, Iowa

URBANDALE, IOWA — The Urbandale Community School District has selected Stahl to construct a two-story, 118,000-square-foot elementary school. The $28 million building, located at 7110 Prairie Ave., will replace the existing Olmsted Elementary. In addition to classrooms, the building will feature a kitchen and cafeteria, gymnasium, administration area and auxiliary spaces. Urbandale’s new school is part of a $59 million bond referendum and long-term facilities plan for the district to meet …

Disney Investment Group Brokers Sales of Five Retail Centers in Missouri, Iowa

MISSOURI AND IOWA — Disney Investment Group (DIG) has brokered the sales of five retail centers in Missouri and Iowa. Sales prices were not disclosed. The properties total 438,861 square feet and are 91 percent occupied on average. Major tenants include Aldi, Gerbes, County Market, Orscheln, Fresenius Medical, Dollar Tree and Dollar General. David Disney and Adam Crockett of DIG brokered the sales on behalf of the seller, a private investment partnership. The team also procured the buyers for …

Stan Johnson Co. Brokers $16.9M Sale of Iowa Industrial Portfolio

IOWA — Stan Johnson Co. has brokered the sale of a four-building industrial portfolio across Iowa for $16.9 million. The properties total nearly 684,000 square feet and are leased to a subsidiary of Magna International Inc. The buildings include 408 and 411 Maplewood Ave. in Williamsburg, 403 S. 8th St. in Montezuma, and 1951 A Ave. in Victor. Rob Gemerchak and Jeff Hughes of Stan Johnson represented the seller, Granite REIT, a Toronto-based publicly traded real estate investment trust. New …

Marcus & Millichap Brokers $1.9M Sale of Multifamily Property in West Des Moines

WEST DES MOINES, IOWA — Marcus & Millichap has brokered the sale of Country Club Village Townhomes in Des Moines for $1.9 million. The 16-unit multifamily property is located at 1220 Office Park Road. Built in 1972, the rental property features two-bedroom units spanning 1,500 square feet. Ryan Spengler, Chris Collins and Evan Miller of Marcus & Millichap marketed the property on behalf of the seller and procured the

112-Room Cambria Hotel Opens in Bettendorf, Iowa

BETTENDORF, IOWA — The Cambria Hotels brand, franchised by Choice Hotels International Inc., has opened its first location in Iowa. The four-story, 112-room hotel is located at 5061 Competition Drive in Bettendorf within the Quad Cities. Amenities include a bistro, full-service bar, pool, fitness center and meeting space. Frontier Hospitality Group developed the hotel. There are currently more than 40 Cambria hotels across the U.S. The Bettendorf property is the first of seven Cambria hotels …

Eastern Union Arranges $17.9M Acquisition Financing for Industrial Portfolio in Iowa

IOWA — Eastern Union has arranged $17.9 million in acquisition financing for the Magna International portfolio, a collection of four automobile parts manufacturing facilities spanning 600,000 square feet throughout Iowa. Toronto-based Granite REIT America sold the portfolio to New York-based Beau Pere Real Estate LLC. Abe Kolman of Eastern Union arranged two loans with Bank of the West. The loan-to-value ratio was 75

StorageMart Expands Climate-Controlled Facility in Des Moines

DES MOINES, IOWA — StorageMart has expanded its facility located at 1800 E. Army Post Road in Des Moines. The self-storage property now includes two climate-controlled buildings with 155 units. Both buildings feature large drive-in loading bays. StorageMart also expanded the office area, which now offers a variety of packing and moving supplies. The expanded facility also includes 25 additional boat, recreational vehicle and car parking spots on newly paved

Loja Real Estate Acquires Shopping Center in Des Moines for $52M

DES MOINES, IOWA — Loja Real Estate has acquired Water Tower Place in Des Moines for $52 million. The community shopping center is anchored by Whole Foods Market and Best Buy. Other tenants include buybuy Baby, Famous Footwear, Marshalls and Ulta. Located at 4100 University Ave., the asset spans nearly 400,000 square feet. Pegasus Investments represented the undisclosed seller in the

Woda Cooper Breaks Ground on Mixed-Income Apartment Community in Cedar Rapids, Iowa

CEDAR RAPIDS, IOWA — Woda Cooper Cos. has broken ground on Anderson Greene, a 44-unit, mixed-income apartment community in Cedar Rapids. The $8.7 million first phase will include 39 units for residents at or below 60 percent of the area median income, with five units offered at market rate. Woda Cooper also plans to develop a $9.2 million second phase with 48 units that will be built approximately one year after the first phase. A community center with a clubroom as well as outdoor spaces and …

Office Amenities Drive Tenant Decisions in Des Moines Market

In the last few years, the greater Des Moines metro area has been a title holder, reigning as a “Top Place to Live,” “Top City for Young Professionals” and even “Best Place to Retire.” Meanwhile the economy, business environment and commercial real estate sector hold titles like steady, stable and reliable.  However, over the past 24 months, the commercial office market could add thriving, prosperous and robust to that list of adjectives. As office lease rates continue to rise 1.5 …

Conferences