R&R Realty Completes 300,000 SF Warehouse in Grimes, Iowa

GRIMES, IOWA — R&R Realty Group has completed a 300,000-square-foot speculative warehouse in Grimes, 16 miles northwest of Des Moines. Known as Prairie III, the building is the most recent addition to Prairie Business Park, an 800,000-square-foot development located near the intersection of Highway 141 and I-80. Two other warehouses have been completed and a fourth is planned. Each building has a clear height of 32 feet and an ESFR

HREC Brokers Sale of Three-Property Hampton Inn Portfolio in Iowa, Wisconsin

IOWA AND WISCONSIN — HREC Investment Advisors has brokered the sale of a three-property Hampton Inn portfolio in Iowa and Wisconsin. The portfolio included a 135-room hotel in West Des Moines, a 122-room hotel in Appleton and a 119-room hotel in Brookfield. Denver-based Walker Reynolds acquired the select-service portfolio. HREC represented the seller, affiliates of The Raymond Group and North Central Group, both headquartered in Madison,

A&G Realty Completes Auction of Several Properties Formerly Owned by The Bon-Ton Stores Inc.

ILLINOIS, IOWA AND MICHIGAN — Real estate advisory and brokerage firm A&G Realty Partners has announced the results of its Jan. 28 bankruptcy auction of the final department store properties formerly owned by The Bon-Ton Stores Inc. The stores, located in the Midwest, formerly operated under the Bergner’s Carson’s, Younkers, Elder-Beerman and Bon-Ton names. In Coralville, Iowa, a home furnishings retailer acquired the 98,458-square-foot Younkers at Coral Ridge Mall. Mall …

Rubenstein Properties Sells 28 Industrial Properties for $197M

LITTLE FALLS, N.J. — Rubenstein Properties has sold 28 industrial properties totaling more than 5 million square feet across six states for $197 million. Bernards Township, N.J.-based Silverman Group acquired 27 buildings for $183 million. Properties are located in New Jersey, Connecticut, Massachusetts, Iowa, Indiana and Alabama. The portfolio was 95.8 percent leased at the time of the sale. Locations include: New Jersey 10 Park Place, Butler; 20-21 Wagaraw Road, Fair …

$73M Hotel Restoration Project Underway in Sioux City, Iowa

SIOUX CITY, IOWA — The Warrior Hotel and neighboring Davidson Building in downtown Sioux City will undergo a $73 million restoration. A groundbreaking ceremony took place on Tuesday, Feb. 5. The 10-story hotel and six-story building are slated to open in the fall of 2020 as The Warrior Hotel and Davidson Apartments. Marriott will operate the hotel as an Autograph Collection hotel. Both the Davidson and The Warrior properties, built in 1913 and 1930, respectively, have been vacant for the …

Ders Group Underway on $275M Mixed-Use Development in Tiffin, Iowa

TIFFIN, IOWA — The Ders Group is underway on the development of Park Place in Tiffin, about 10 miles west of Iowa City. The $275 million mixed-use development will be situated on 400 acres. In addition to retail and office space, plans call for approximately 2,000 apartment units and 200 single-family lots. The Ders Group, headquartered in Coralville, Iowa, acquired all of the land in 2016. The developer completed infrastructure construction last fall.  Andersen Square, a city center, is …

Dougherty Provides $6.9M Refinancing for Apartment Property in Spencer, Iowa

SPENCER, IOWA — Dougherty Mortgage has provided a $6.9 million Fannie Mae loan for the refinancing of Windcrest Village in Spencer in northwestern Iowa. The 87-unit apartment property includes laundry facilities, a fitness center and children’s playground. The 12-year loan features a 30-year amortization schedule. Windcrest Village LLC was the

R&R Opens New Corporate Headquarters in West Des Moines

WEST DES MOINES, IOWA — R&R Realty Group has opened its new headquarters at Westfield Campus, a 180,000-square-foot, multi-tenant office property in West Des Moines. The campus includes two 80,000-square-foot buildings connected by Westfield Commons, a meeting space with conference areas, a coffee shop, fitness center and rooftop terrace. R&R occupies the entire second floor of the north building for approximately 25,000 square feet. Joining R&R at the office property are several …

Forever 21 to Open at Outlets of Des Moines

DES MOINES, IOWA — Forever 21 is scheduled to open on Saturday, Dec. 15 at the Outlets of Des Moines in Iowa. The store will feature a section for men, women, girls, plus-size apparel and accessories. This is the eighth store to open at the outlet center this year. Developed by New England Development, Outlets of Des Moines features stores such as Old Navy Outlet, Nike Factory Store, Tommy Hilfiger, Under Armour and Express Factory Outlet. The 300,000-square-foot property opened in October …

Carter Validus Purchases Healthcare Facility in Clive, Iowa for $23.5M

CLIVE, IOWA — Carter Validus Mission Critical REIT II Inc. has purchased the Clive Healthcare Facility for $23.5 million. The 58,156-square-foot property is situated on one acre in Clive, about 10 miles east of Des Moines. Constructed in 2008, the facility is fully leased and anchored by an ambulatory surgery center. The seller was not