REBusinessOnline

Mumford Co. Brokers Sale of Relax Inn Hotel in Osceola, Iowa

OSCEOLA, IOWA — Mumford Co. has brokered the sale of the 35-room Relax Inn hotel property in Osceola, about 45 miles south of Des Moines. The sales price was undisclosed. The hotel was formerly branded as Americas Best Value Inn until May of this year. David Mumford and George Arvanitis of Mumford represented the seller, Rikita LLC. Iowa-based Silverado Farms LLC was the

Construction Underway on Edgewood Logistics Park in Cedar Rapids, Iowa

CEDAR RAPIDS, IOWA — Construction is underway on Edgewood Logistics Park, a 204,000-square-foot speculative industrial building in Cedar Rapids. The 21-acre project will feature a clear height of 36 feet, 48 docks, 200 vehicle parking stalls and 130 semi-trailer parking spaces. Completion is slated for spring 2022. Dave Drown of GLD Commercial is marketing the project for lease. The development group is privately held and locally owned. Garling Construction is the general

Opus Breaks Ground on Phase II of Swanwood Logistics Center in Ankeny, Iowa

ANKENY, IOWA — The Opus Group has broken ground on the second phase of Swanwood Logistics Center in Ankeny. Phase II will include a 296,300-square-foot speculative industrial building on 25 acres. Once complete, the building will feature 184 vehicle parking stalls, 24 dock doors, two drive-in doors and a clear height of 32 feet. Completion is slated for fall 2022. Opus is the developer, design-builder, architect and structural engineer. Marcus Pitts and Austin Hedstrom of JLL are marketing …

Woda Cooper Underway on Construction of 35-Unit Age-Restricted Community in Iowa

WILTON, IOWA — Woda Cooper Cos. Inc. is underway on construction of Chandler Pointe in Wilton, about 30 miles east of Iowa City. The $6.9 million project will provide 35 units for residents age 55 and older. Monthly rents will range from $330 to $640 for one-bedroom units and from $395 to $735 for two-bedroom floor plans. Of the 35 units, 31 will be affordable for households with incomes at or below 80 percent of the area median income. Four apartments will be available at market rates. …

Hanley Investment Group Brokers $7.4M Sale of Three Taco Bell-Occupied Properties in Missouri, Iowa

MISSOURI AND IOWA — Hanley Investment Group Real Estate Advisors has brokered the sale of three single-tenant, net-lease properties occupied by Taco Bell in Missouri and Iowa for $7.4 million. The assets sold to three separate buyers.The seller for the two Missouri properties was a San Francisco Bay area-based private investment company. Jeff Lefko, Bill Asher and Beau Velten of Hanley and Jeff Christian of First Street Brokerage, in association with ParaSell Inc. represented the …

Ryan Cos. Breaks Ground on 72,000 SF Cardiovascular Center in Cedar Rapids, Iowa

CEDAR RAPIDS, IOWA — Ryan Cos. US Inc. and Mercy Cedar Rapids have broken ground on The Heart Center at Mercy, a 72,000-square-foot cardiovascular center in Cedar Rapids. A skybridge will connect the center to the main Mercy hospital. Plans call for space for screenings and detection services as well as community education spaces for CPR and defibrillator training. Construction is scheduled to begin this fall and completion is slated for mid-2023. Ryan is serving as both designer and builder …

Resilience, Growth in Cedar Rapids is Unparalleled

By Scott Olson, Skogman Commercial On Aug. 10, 2020, eastern Iowa was hit with a derecho. This is the Spanish word for a widespread, long-lived, straight-line windstorm that is associated with a fast-moving group of several thunderstorms. Winds in southwest Cedar Rapids were estimated to be 140 miles per hour with the entire city of 75 square miles sustaining major damage. The statistics are staggering: • Cedar Rapids lost 669,000 mature trees, about 70 percent of its urban canopy. The …

Colliers Mortgage Provides $3.8M Loan for Refinancing of Iowa Multifamily Property

SPIRIT LAKE, IOWA — Colliers Mortgage has provided a $3.8 million Fannie Mae loan for the refinancing of Tallgrass Village II in northern Iowa’s Spirit Lake. Built in 2019, the 49-unit multifamily property consists of one two-story apartment building and three two-story townhome buildings. The 10-year loan features a 30-year amortization schedule. An entity doing business as Tallgrass Village II LLC was the

Shive-Hattery, City of Marion Plan Retail Redevelopment Project

MARION, IOWA — Shive-Hattery is working with the City of Marion on the design of a retail strip center redevelopment across one-and-a-half acres. Cedar Falls, Iowa-based Eagle View Partners and DCI Group Inc. are the developers for the project, which will convert an aging retail center into multifamily space. The first phase of the project, Broad & Main on 7th, will include 42 apartment units atop retail and restaurant space on the ground floor. The second phase, Broad & Main on 6th, …

JLL Brokers Sale of 91,588 SF Grocery-Anchored Shopping Center in Dubuque, Iowa

DUBUQUE, IOWA — JLL Capital Markets has arranged the sale of Warren Plaza in Dubuque for an undisclosed price. Anchored by Hy-Vee, the shopping center spans 91,588 square feet. Originally completed in 1979, the Hy-Vee store was expanded in 1994 and 2013. Other tenants include UPS, SuperCuts, Jersey Mike’s, Miracle Ear, Grand River Medical Group and OneMain Financial. Clinton Mitchell, Amy Sands, Michael Nieder, Kirstey Lein and Marcus Pitts of JLL represented the seller, The DESCO Group. A …

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