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Iowa

Developer Unveils Main Retailers at Outlets of Des Moines, Preps for October Opening

DES MOINES, IOWA — Outlets of Des Moines has unveiled its tenant list leading up to the grand opening on Oct. 20. Notable tenants include Nike Factory Store, LOFT Outlet, Tommy Hilfiger, Bath & Body Works, Toys “R” Us Express, Under Armour, Famous Footwear and Levi’s Outlet Store. A list of retailers was announced each day last week, along with a $1,000 sweepstakes contest. By entering the contest on the shopping center’s Facebook page, shoppers will have the opportunity to win..

August 28, 2017

Increased Development Activity in Cedar Rapids Flows Across Property Types

These are momentous times for the Cedar Rapids economy. On the jobs front, the unemployment rate for the Cedar Rapids area stood at 3.2 percent in May, even tighter than the national unemployment rate of 4.3 percent for the same period. Meanwhile, the housing market recorded its lowest inventory of housing on the market in two years with 1,482 active listings in June 2017, 540 less than June 2015. On average, the number of days that houses were on the market dropped from 87 to 62 in the last..

August 10, 2017

Draper and Kramer Sells Office Building in Des Moines, Iowa for $30.2M

DES MOINES, IOWA — Draper and Kramer Inc. has sold Capital Square in downtown Des Moines to Real Capital Solutions for $30.2 million. Designed by Skidmore, Owings & Merrill, the 454,619-square-foot office building is located at 400 Locust St. Draper and Kramer developed the eight-story building in 1983. Tenants include The Des Moines Register, RSM McGladrey, Life Care Services, BH Equities and Iowa State University. CBRE represented Draper and Kramer in the sale transaction.

August 7, 2017

Darland Transforms Former School Into Affordable Seniors Housing Property in Council Bluffs, Iowa

COUNCIL BLUFFS, IOWA — Darland Construction Co. has completed a renovation of and addition to Gunn School, transforming the 90-year-old building into an affordable seniors housing property in Council Bluffs, a suburb of Omaha, Neb. Known as Linden Place, the 42,265-square-foot complex consists of 36 units. Sixteen of the apartment units are located in the renovated school, while the remaining 20 units are part of a new, two-story addition built on what was once the school's basketball courts..

August 7, 2017

Timberland Partners Purchases 92-Unit Apartment Community in Ankeny, Iowa

ANKENY, IOWA — Timberland Partners Investment Fund V has purchased Prairie Lakes in Ankeny for an undisclosed price. The 92-unit apartment community was built in 2013. Timberland Partners plans to remodel the clubhouse and add an outdoor community space with grill stations and seating areas as well as a dog park. Matt Bukhshtaber of CBRE represented the undisclosed seller. This represents the 10th and final acquisition of the fund, which now holds a grand total of 2,135 units.

July 10, 2017

Population Growth Sparks Apartment Development Wave in Des Moines

While recently visiting a local Starbucks, I noticed an employee behind the counter with a tattoo in the shape of California. I decided to ask the barista if she was from the Golden State, and indeed she was. I asked what brought her to Des Moines, thinking she would say family or a love interest, but I was wrong. She had read and heard so much positive press about the Des Moines area that she decided to give it a shot. [caption id="attachment_179198" align="alignright" width="100"] Rick..

June 29, 2017

Opus Breaks Ground on 200,700 SF Industrial Building in Ankeny, Iowa

ANKENY, IOWA — The Opus Group has broken ground on a 200,700-square-foot speculative industrial building in Ankeny, about 12 miles north of Des Moines. This is the second phase of development at Corporate Woods Industrial Park, a 50-acre site that consists of a fully leased 208,000-square-foot industrial warehouse and additional space for a third facility. The park offers immediate access to I-35 and I-80. The building will feature 32-foot clear heights, one drive-in door, up to 54 dock..

June 21, 2017

Mid-America Brokers Sale of 187,068 SF Shopping Center in Cedar Rapids, Iowa

CEDAR RAPIDS, IOWA — Mid-America Real Estate Corp. has brokered the sale of Northland Square in Cedar Rapids. The sales price was not disclosed. Built in 1994, the 187,068-square-foot shopping center is located at the southeast corner of Collins Road and C Avenue. Kohls and TJ Maxx anchor the center. Other tenants include Barnes & Noble, Office Max, Old Navy, Famous Footwear and Hallmark. Joe Girardi and Ben Wineman of Mid-America brokered the transaction on behalf of the seller, a public..

June 20, 2017

NorthMarq Arranges $4.4M Loan for Refinancing of Multifamily Property in Cedar Rapids, Iowa

CEDAR RAPIDS, IOWA — NorthMarq Capital has arranged a $4.4 million loan for the refinancing of Cypress Pointe Apartments in Cedar Rapids. The 108-unit multifamily property is located at 211 1st Ave. Jason Kinnison of NorthMarq arranged the loan with a life insurance company. The borrower was not disclosed.

June 8, 2017

Opus Begins Construction of Science Building at Northwestern College in Orange City, Iowa

ORANGE CITY, IOWA — The Opus Group has begun construction of a new 61,750-square-foot Health and Natural Sciences building at Northwestern College in Orange City. The building will be the new home of the school’s biology, chemistry and nursing departments. The project will include lab spaces, featuring simulation suites that replicate hospital and clinical settings for nursing students. Additional classrooms will include moveable tables and exam rooms to allow for hands-on training. The..

May 10, 2017