Iowa Archives - REBusinessOnline

NAI Ruhl Brokers Sale of Former Quad-City Times Headquarters in Davenport, Iowa

Kristin Harlow — Wed, 05 Aug 2026 13:28:56 +0000

DAVENPORT, IOWA — NAI Ruhl Commercial Co. has brokered the sale of the former Quad-City Times headquarters facility at 500 E. Third St. in Davenport. Rick Schaefer and Charlie Armstrong of NAI Ruhl brokered the sale. The Geifman Group, a longtime Quad Cities real estate owner and developer, purchased the property with plans to remodel it into a multi-tenant building. Constructed in 1989, the facility totals 122,800 square feet on 6.2 acres overlooking the Mississippi River. The building includes 41,850 square feet of two-story office space and 80,950 square feet of high-bay production and warehouse space. For more than three decades, the property served as the regional headquarters of the Quad-City Times and was home to the newspaper’s editorial, administrative and printing operations.

The post NAI Ruhl Brokers Sale of Former Quad-City Times Headquarters in Davenport, Iowa appeared first on REBusinessOnline.

Opus Underway on Construction of 133,670 SF Des Moines Christian School in Urbandale, Iowa

Kristin Harlow — Thu, 30 Jul 2026 12:44:58 +0000

URBANDALE, IOWA — Opus is under construction on a new dedicated high school for Des Moines Christian School in the suburb of Urbandale. The 133,670-square-foot facility will be located at 4300 136th St. on 104 acres that the school purchased in 2024 via a gift. Des Moines Christian School currently serves 1,500 students in grades Pre-K through 12 on its 26-acre Urbandale campus. The new high school, being built one mile away, will include a two-story academic wing with 24 classrooms and three labs, including dedicated STEM spaces; a gymnasium with a regulation collegiate-sized basketball court and bleacher seating for more than 2,000 fans; dedicated spaces for wellness, fine arts and student activities; a common space with electric fireplace; a student-led coffee shop; and outdoor learning and dining spaces. Opus is serving as construction manager and is working with SVPA Architects.

The post Opus Underway on Construction of 133,670 SF Des Moines Christian School in Urbandale, Iowa appeared first on REBusinessOnline.

Foss Secures Tax Credits for 25-Story Office Tower Conversion in Des Moines

Kristin Harlow — Mon, 27 Jul 2026 14:15:10 +0000

DES MOINES, IOWA — Foss & Co., a tax credit syndicator, has secured financing for the Financial Center, a 25-story office tower in downtown Des Moines. Developed by Lawmark Capital, the project will convert the building into 209 market-rate apartment units and 152,000 square feet of commercial space, generating approximately $14.6 million in 2026 federal Historic Tax Credits. Constructed between 1973 and 1974, the Financial Center was the tallest building in Iowa upon its completion. The conversion plan will transform a portion of floors one through three and all of floors four through 18 into residential units. Resident amenities will include a golf simulator, fitness center, rooftop deck with a pool and direct access to Des Moines’ 4.2-mile downtown skywalk system.

The post Foss Secures Tax Credits for 25-Story Office Tower Conversion in Des Moines appeared first on REBusinessOnline.

Des Moines at the Midpoint: Demand Is Real, Space Is the Variable

Kristin Harlow — Thu, 16 Jul 2026 12:33:00 +0000

By Aaron Hyde and Justin Lossner, JLL Regional markets like Des Moines are no longer waiting their turn. Retailers and office users that once bypassed mid-sized metros for coastal or high-growth markets are compressing their timelines and arriving here ahead of schedule. Heading into the second half of 2026, that shift is already playing out on the ground. Des Moines faces constrained supply and steady demand—not excess capacity. Across retail and office, the question isn’t whether tenants want to be here, but whether growth can physically occur. Retail: strong demand Retail vacancy in metro Des Moines sits around 3.5 percent, the tightest rate in over a decade. Demand spans categories: Quick-service restaurants, banks, auto tenants, fitness and junior box soft goods retailers all absorb space as it becomes available. Retailers are no longer simply looking for the next door down the street. They’re expanding regionally, and markets like Des Moines are benefiting as larger metros tighten. National retailers now enter Des Moines earlier in their expansion cycles. In fact, roughly 36 percent of new national retail leases were signed within five months of space becoming available. Des Moines is consistent with that velocity. Space — not demand — limits growth…

The post Des Moines at the Midpoint: Demand Is Real, Space Is the Variable appeared first on REBusinessOnline.

Associated Bank Originates $17.7M Acquisition Loan for Townhome Community in Metro Des Moines

Kristin Harlow — Fri, 26 Jun 2026 13:03:57 +0000

URBANDALE, IOWA — Associated Bank has originated a $17.7 million loan for Tricap Investments for the phased acquisition of the Townhomes at Magnolia Heights in Urbandale, a suburb of Des Moines. The 105 two-story townhome rental units are adjacent to the 240 for-sale, single-family and townhome community of Magnolia Heights. Elizabeth Hozian of Associated Bank managed the loan arrangements and closing. Tricap Investments focuses on the acquisition of low-density multifamily housing in suburban markets.

The post Associated Bank Originates $17.7M Acquisition Loan for Townhome Community in Metro Des Moines appeared first on REBusinessOnline.

Opus Completes Gerdin Fieldhouse at Luther College in Decorah, Iowa

Kristin Harlow — Fri, 29 May 2026 13:46:02 +0000

DECORAH, IOWA — Opus has completed the Gerdin Fieldhouse for Athletics and Wellness at Luther College in Decorah, a city in northeast Iowa. Built in 1963, Luther’s 200,000-square-foot Regents Center had long housed the Luther Norse athletic teams. The facility required both a renovation and a 15,787-square-foot expansion. An historic $10 million gift from Michael and Nicole Gerdin and the Gerdin Charitable Foundation helped make the project possible. Work on the Gerdin Fieldhouse began in August 2024 and included the construction of a new 5,787-square-foot public lobby on the property’s north end that includes a new concession stand, restrooms and a Hall of Fame space. Opus also built a new 10,200-square-foot wrestling training complex and completed extensive renovations to the existing basketball and volleyball arena. Athlete training and rehab facilities, locker rooms and meeting and study spaces for all 21 Norse athletic teams were also updated. Opus served as design-builder and worked in partnership with RDG Planning & Design.

The post Opus Completes Gerdin Fieldhouse at Luther College in Decorah, Iowa appeared first on REBusinessOnline.

Opus Breaks Ground on 80,000 SF Advanced Manufacturing Facility for ContiTech in Iowa

Kristin Harlow — Tue, 26 May 2026 13:35:50 +0000

MOUNT PLEASANT, IOWA — Opus has broken ground on an advanced manufacturing facility for ContiTech, a group sector of Continental, at its existing plant in Mount Pleasant within eastern Iowa. At more than 80,000 square feet, the new compounding center will integrate production, warehouse and office operations to support ContiTech’s hose and belt businesses while optimizing its North American mixing footprint. The project will include a three-story, 17,472-square-foot mixing facility, an automated high-bay warehouse, shipping and receiving, bulk storage and a 4,250-square-foot office and lab space. The three-story mixing facility will support a specialized vertical manufacturing process in which raw materials are introduced on the upper level and move through advanced mixing lines to lower floors. Opus is the design-builder, Martin Gardner Architects is the architect and Raker Rhodes Engineering is the structural engineer. Completion is slated for June 2027.

The post Opus Breaks Ground on 80,000 SF Advanced Manufacturing Facility for ContiTech in Iowa appeared first on REBusinessOnline.

TopSide Marinas Acquires Rathbun Lake Marina in Moravia, Iowa

Kristin Harlow — Wed, 06 May 2026 13:36:34 +0000

MORAVIA, IOWA — TopSide Marinas has acquired Rathbun Lake Marina, a full-service marina and resort destination located on Rathbun Lake in Moravia, a city in southern Iowa. The acquisition marks the company’s entry into the Iowa market. The 160-acre leasehold property with the U.S. Army Corps of Engineers features 246 wet slips, boat rentals, four campgrounds with 144 campsites and a 12-room hotel. Louie’s Lakeside Bistro and Barbecue is an independently operated restaurant that is open onsite from April 15 through Oct. 15 and is accessible by boat, camper or car. Established in 2010, Rathbun Lake Marina offers amenities such as a soccer field, frisbee golf and other activities. TopSide Marinas plans to invest in several enhancements, including expanding capacity with an increased total slip count as well as adding roofs to uncovered docks and introducing a service department. To accommodate additional public boat launches, the boat rental operation and parking area will both be expanded.

The post TopSide Marinas Acquires Rathbun Lake Marina in Moravia, Iowa appeared first on REBusinessOnline.

Sub-Zero Plans $196M Manufacturing Expansion in Cedar Rapids, Iowa

Kristin Harlow — Thu, 30 Apr 2026 13:46:04 +0000

CEDAR RAPIDS, IOWA — Sub-Zero Group Inc. has unveiled plans to expand its manufacturing operations in Cedar Rapids. The $196 million expansion will add approximately 230,000 square feet to the company’s existing 600,000-square-foot facility on the city’s southwest side and is expected to create 312 new jobs, bringing total employment at the site to more than 500. Headquartered in Madison, Wis., Sub-Zero manufactures kitchen appliances under the Sub-Zero, Wolf and Cove brands. Construction timelines and additional project details will be announced as planning progresses.

The post Sub-Zero Plans $196M Manufacturing Expansion in Cedar Rapids, Iowa appeared first on REBusinessOnline.

NAI Ruhl Brokers Sale of Two Office Buildings Totaling 113,427 SF in Quad Cities

Kristin Harlow — Thu, 23 Apr 2026 13:02:16 +0000

DAVENPORT AND BETTENDORF, IOWA — NAI Ruhl Commercial Co. has brokered the sale of two office buildings in the Quad Cities. The properties were formerly owned by the Slavens family and served as the longtime home of Northwest Bank & Trust, now Time Bank. A nine-story building at 100 E. Kimberly Road in Davenport totals 67,839 square feet, while a six-story building at 2550 Middle Road in Bettendorf totals 45,588 square feet. Both properties are considered regional landmarks, according to NAI Ruhl. They house approximately 60 tenants, including business uses such as banking, legal services, accounting, medical practices and counseling services. Charlie Armstrong and Alex Kelly of NAI Ruhl represented the buyer, Avalair Group. Bobbie Slavens of Hawkeye Commercial Real Estate represented the seller, River Cities Development LLC, a subsidiary of Northwest Investment Corp. Tower Trust & Investment Co. and Centennial Tax & Accounting, both subsidiaries of Northwest Investment Corp., will continue as full-floor tenants. Armstrong and Kelly will handle leasing for both properties, and NAI Ruhl’s property management division will provide property management services.

The post NAI Ruhl Brokers Sale of Two Office Buildings Totaling 113,427 SF in Quad Cities appeared first on REBusinessOnline.

Samsung Expands in Cedar Rapids, Joins Kingston Yard Tech Cluster

Kristin Harlow — Fri, 03 Apr 2026 12:50:26 +0000

CEDAR RAPIDS, IOWA — Samsung Electronics will relocate within Cedar Rapids and expand its research and development operations. The company has been conducting ongoing testing on GPS location software at its current location off Collins Road. Samsung joins a growing list of businesses selecting the emerging Kingston Yard district of downtown Cedar Rapids. Notable recent additions include Big Grove Brewery & Taproom and Pickle Palace, as well as the future opening of the AC Hotel by Marriott. The Cedar Rapids Metro Economic Alliance and the City of Cedar Rapids worked together to assist Samsung’s growth in the city.

The post Samsung Expands in Cedar Rapids, Joins Kingston Yard Tech Cluster appeared first on REBusinessOnline.

Bally’s Marquette Landside Casino Opens in Iowa

Kristin Harlow — Fri, 13 Mar 2026 13:55:54 +0000

MARQUETTE, IOWA — Bally’s Marquette has opened its new 31,280-square-foot gaming and entertainment destination in northeast Iowa. The $26.2 million project transformed the historic riverboat casino into a permanent landside facility at 100 Anti Monopoly St. The property features more than 400 slot machines and electronic table games, live blackjack and Ultimate Texas Hold ‘Em as well as a sportsbook. Dining and beverage concepts include 1994 Sports Bar, Sidecar Bar, Benchfront Coffee and Riverside Grill. The landside move created nearly 80 new jobs. Bally’s operates 19 casinos across 11 states.

The post Bally’s Marquette Landside Casino Opens in Iowa appeared first on REBusinessOnline.

Foth Relocates to 23,500 SF Office Space at Historic Carpenter Building in Des Moines

Kristin Harlow — Thu, 05 Mar 2026 14:10:31 +0000

DES MOINES, IOWA — Foth, an engineering services firm, has relocated to the historic Carpenter Building in downtown Des Moines. Savills managed the lease negotiations, project management and office build-out for the 23,500-square-foot space. The project spans the second and third floors with an interconnected stairwell. Constructed in 1918, the Carpenter Building is a 50,000-square-foot property that has recently been transformed into Class A office space. Amenities include a fitness center, game room and conferencing facilities. Ashley Moen and Andrew Yung of Savills managed the lease negotiations for Foth while colleague Jon Theis led the build-out.

The post Foth Relocates to 23,500 SF Office Space at Historic Carpenter Building in Des Moines appeared first on REBusinessOnline.

Electro Freeze Signs 301,320 SF Lease at Russell Industrial Park in Davenport, Iowa

Kristin Harlow — Wed, 18 Feb 2026 14:25:21 +0000

DAVENPORT, IOWA — Electro Freeze, a frozen treat machine manufacturer, has signed a 301,320-square-foot lease at Russell Industrial Park in Davenport within the Quad Cities. The company will relocate from East Moline in July. Michael Minard, Austin Hedstrom, Tanner Hedstrom and Marcus Pitts of JLL represented the landlord, Russell, an Iowa-based construction and development firm. The property is the fourth of six buildings to reach full occupancy within the 95-acre industrial park. Other tenants include Ryder Logistics, Nestlé Purina, PODS, Crescent Electric and Tube and Solid Tire. The buildings total nearly 1.5 million square feet, with over 500,000 square feet remaining available for lease. Electro Freeze’s commitment brings more than 200 jobs to Davenport.

The post Electro Freeze Signs 301,320 SF Lease at Russell Industrial Park in Davenport, Iowa appeared first on REBusinessOnline.

Associated Bank Arranges $84M Construction Loan for Manufacturing Facility in Altoona, Iowa

Kristin Harlow — Thu, 05 Feb 2026 13:49:57 +0000

ALTOONA, IOWA — Associated Bank has arranged an $84 million loan for the construction of a 622,788-square-foot heavy manufacturing facility in Altoona. Enclave is the developer and borrower. The loan was arranged and led by Associated Bank as administrative agent with syndicate lenders First National Bank of Omaha and Wintrust Financial. The project is a build-to-suit for Robinson Inc. to provide flexible production capacity for metal bending, large format cutting, metal forming, welding, fabricating and assembly, and electrical integration. Marking its first manufacturing facility outside of Wisconsin, Robinson will now have close to 1.4 million square feet of manufacturing space across Wisconsin and Iowa to better serve its energy sector customers. The City of Altoona is investing $9 million for infrastructure improvements, and Robinson will invest $76 million for upgrades. The plant will create more than 100 new jobs when completed in early 2027. Valor Contracting, a division of Enclave, is the general contractor. John Rent of Associated Bank handled the loan arrangements and closing.

The post Associated Bank Arranges $84M Construction Loan for Manufacturing Facility in Altoona, Iowa appeared first on REBusinessOnline.

Marcus & Millichap Brokers $41.6M Sale of Daycare Center Portfolio in Midwest

Kristin Harlow — Mon, 02 Feb 2026 14:56:04 +0000

IOWA, MINNESOTA AND NEBRASKA — Marcus & Millichap has brokered the $41.6 million sale of the Yellow Brick Road Portfolio, a collection of 18 triple-net-leased early childhood development centers in Iowa, Minnesota and Nebraska. Spencer Berkley, Mark Ruble, Chris Lind, Zack House, Jon Ruzicka and Adam Lewis of Marcus & Millichap represented the sellers, Ben Ditzer and Bob Carlson of Triple Net Capital, and procured the buyer, a Florida-based real estate investment trust. The portfolio included a range of lease structures and ownership entities. Two additional assets were sold separately to private buyers prior to the sale of the remaining 18 properties.

The post Marcus & Millichap Brokers $41.6M Sale of Daycare Center Portfolio in Midwest appeared first on REBusinessOnline.

Phoenix Investors Acquires 287,025 SF Industrial Facility in Dubuque, Iowa

Kristin Harlow — Fri, 09 Jan 2026 13:53:21 +0000

DUBUQUE, IOWA — Phoenix Investors has acquired a 287,025-square-foot industrial facility located at 2150 Kerper Blvd. in Dubuque. The property features 12 docks and a rail spur serviced by Canadian Pacific. According to Phoenix, the facility is ideal for heavy manufacturing or distribution and offers extensive car and trailer parking. Milwaukee-based Phoenix’s portfolio totals approximately 85 million square feet across 27 states.

The post Phoenix Investors Acquires 287,025 SF Industrial Facility in Dubuque, Iowa appeared first on REBusinessOnline.

MMCC Secures $7.6M in Financing for Multifamily Property in Burlington, Iowa

Kristin Harlow — Mon, 22 Dec 2025 14:48:40 +0000

BURLINGTON, IOWA — Marcus & Millichap Capital Corp. (MMCC) has secured $7.6 million in financing for Urbane 424, a 52-unit multifamily property in Burlington, a city in eastern Iowa. The five-story property at 424 N. 3rd St. is situated near the Great River Bridge with views of the Mississippi Riverfront. The asset features a mix of studio, one- and two-bedroom units along with 3,000 square feet of first-floor retail space. Amenities include a rooftop terrace, bike storage and lounge. Robert Bhat of MMCC arranged the financing with a national bank on behalf of a private client. The nonrecourse loan features a five-year term with interest-only payments for the full term and a 70 percent loan-to-value ratio.

The post MMCC Secures $7.6M in Financing for Multifamily Property in Burlington, Iowa appeared first on REBusinessOnline.

Greysteel Arranges Sale of 146-Unit Apartment Community in West Des Moines

Kristin Harlow — Wed, 03 Dec 2025 15:17:36 +0000

WEST DES MOINES, IOWA — Greysteel has arranged the sale of Fountain Terrace, a newly constructed apartment community with 146 units in West Des Moines. Completed in 2024, the property was 94 percent occupied at the time of sale. Amenities include a pool, fitness center, detached garages and pet-friendly facilities. According to Greysteel, the asset received more than a dozen offers from out-of-state buyers, many of whom did not own in the Des Moines market. BJ Connolly and Zach Schneider of Greysteel brokered the transaction. Buyer and seller information was not released.

The post Greysteel Arranges Sale of 146-Unit Apartment Community in West Des Moines appeared first on REBusinessOnline.

Coastal Ridge Acquires Two Student Housing Communities Near Iowa State University

Kristin Harlow — Thu, 20 Nov 2025 15:12:19 +0000

AMES, IOWA — Coastal Ridge has acquired two student housing properties serving Iowa State University in Ames. The acquisitions were part of a portfolio that also included a property in Louisiana totaling just under 1,600 beds with a gross asset value of approximately $90 million. The acquisitions mark the firm’s initial deployment of capital from the Coastal Ridge Value-Add Student Housing Fund LP, the company’s inaugural institutional commingled fund. The per-bed cost across the three assets was approximately $56,000. New construction can exceed $100,000 per bed, according to Coastal Ridge.

The post Coastal Ridge Acquires Two Student Housing Communities Near Iowa State University appeared first on REBusinessOnline.