COUNCIL BLUFFS, IOWA — CyrusOne, a data center REIT, has broken ground on a data center at 4700 Gifford Road in Council Bluffs. The first phase of the facility is slated for occupancy in fall 2020. Upon full buildout, the site will feature 24 megawatts of total power available across the roughly 60,000-square-foot property.
DES MOINES, IOWA — Marcus & Millichap has brokered the sale of a 2,168-square-foot property net leased to Dunkin’ Donuts in Des Moines for $1.2 million. The building is located at 3611 SE 14th St. Zach Turner, Scott Wiles, Craig Fuller and Erin Patton of Marcus & Millichap represented the seller, a limited liability company. Ray Germain of Marcus & Millichap’s Las Vegas office secured the buyer, a limited liability company. The sales price represents a cap rate of 6.59 percent.
ELDRIDGE, IOWA — Marcus & Millichap has brokered the $2.5 million sale of Deercreek Apartments in Eldridge, north of Davenport and part of the Quad Cities metro area. Built in 1973, the 54-unit property is located at 1 Parkview Drive. David Orton of Marcus & Millichap’s Indianapolis office marketed the property on behalf of the seller, a partnership. Orton also secured and represented the buyer, a limited liability company.
URBANDALE, IOWA — NorthMarq has arranged a $2.7 million loan for the refinancing of a 52,550-square-foot industrial building in Urbandale. The property is located at 11000 Justine Drive. Steve Ruff and Josh Larsen of NorthMarq arranged the 10-year loan, which features a 20-year amortization schedule, on behalf of borrower Johnstone Supply. A life insurance company provided the loan. Proceeds will be used to fund existing improvements and provide financing for the construction of an 8,000-square-foot addition.
SPRINGFIELD, ILL. AND DES MOINES, IOWA — Maverick Commercial Mortgage Inc. has arranged a $12.7 million first-mortgage loan on behalf of MHPI Inc. for a portfolio of four manufactured housing communities located in Springfield, Ill. and Des Moines. The portfolio includes a combined 303 pad sites. The three Springfield communities were built within the last 15 years. The community in Des Moines features a clubhouse, swimming pool, community room and small self-storage facility. Benjamin Kadish of Maverick arranged the seven-year, fixed-rate loan with an undisclosed national lender. Proceeds paid off the existing lender and paid for closing costs. Arnold Weinberg of Much Shelist represented MHPI.
URBANDALE, IOWA — R&R Realty Group (R&R) will develop a 13,867-square-foot, build-to-suit health clinic for UnityPoint Clinic in its Center Pointe business Park in Urbandale. Slated to open in fall 2020, the clinic will offer urgent care, a sports medicine and concussion center along with physical therapy services. Located at the junction of 100th Street and I-80/35 in Urbandale’s Urban Loop, Center Pointe Business Park will contain more than 1 million square feet of office and retail space once completed. UnityPoint is a West Des Moines-based health system.
BETTENDORF, IOWA — NorthMarq has arranged a $12.5 million loan for the refinancing of The Fountains Independent Living in Bettendorf. The seniors housing property is located at 3728 Thunder Ridge Road. Jason Kinnison of NorthMarq structured the loan with an immediate funding of $8.5 million and a construction component in the amount of $4 million, which will be used to complete an addition to the property. The borrower was not disclosed.
NEBRASKA, IOWA AND KANSAS — Blueprint Healthcare Real Estate Advisors has arranged the sale of 15 skilled nursing facilities in Nebraska, Iowa and Kansas. The portfolio included 10 locations in Nebraska, four in Iowa, and one in Kansas, and consists of over 950 licensed beds. The facilities are in predominantly secondary and tertiary submarkets, and the majority were built in the 1960s and 1970s. Blueprint’s Michael Segal, Ben Firestone and Steve Thomes handled the transaction. Buyer and seller information was not disclosed.
DAVENPORT, IOWA — Berkadia has arranged the sale of a 413-unit, four-property multifamily portfolio in Davenport for an undisclosed price. The properties, built in the late 1970s, include The Racquet Club, Candlelight Commons, Candlelight Village and Candlelight Colony. Parker Stewart, Alex Blagojevich and Michael Sullivan of Berkadia represented the seller, Iowa-based Advance Homes Inc. Colorado-based Monarch Investment and Management Group purchased the portfolio. Peter Benedetto of Berkadia secured an undisclosed amount of acquisition financing on behalf of the buyer.
ANKENY, IOWA — The Opus Group has completed the lease-up of Corporate Woods II, a 200,000-square-foot speculative industrial building in Ankeny. Tenants include Carroll Tire Co., Alfa Laval, Berlin Packaging and Harrell’s Car Wash Systems. The building serves as the second phase of Corporate Woods Industrial Park. Opus is set to begin work on the third and final phase of the industrial park this fall. The final building will span 200,000 square feet and is slated for completion in 2020. JLL represented all four tenants in the lease transactions and will market Phase III for lease.