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Real Estate and Development

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Iowa farmland values spiked a blistering 21% this year, 2nd-largest increase nationally

Des Moines Register: Higher corn and soybean prices and improved profits have helped drive Iowa farmland values up 21% this year, the second-largest increase in the nation, a new U.S. Department of Agriculture report shows. Only …

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Penalties mount for late Des Moines park project

Axios Des Moines: Graphite Construction faces at least $35,500 in penalties for failing to complete a Des Moines park project on time. Witmer Park’s $560,000 playground and restroom project was supposed to be ready to go …

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216-unit affordable apartment complex planned near downtown

Des Moines Register: A developer wants to build 216 apartment units on the banks of the Raccoon River just across from downtown Des Moines, but at least one City Council member believes the project needs improvements …

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Redevelopment plans announced for section of Ingersoll Avenue

A proposed site plan for property at 39th Street and Ingersoll Avenue. Site plan by Confluence Landscape Architecture. Photo below: A street view of the properties purchased by Block 39 LLC, which is managed by …

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CBRE|Hubbell Commercial releases Q2 office market report

The following are some highlights from CBRE|Hubbell Commercial’s 2022 second-quarter office market report for the Des Moines area, which has more than 18.1 million square feet of rental office space:

• In the second quarter, …

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Local developer interested in acquiring historic federal courthouse, possibly converting it to housing or hotel

The federal courthouse at 123 E. Walnut St. will be disposed of in the coming months by the U.S. General Services Administration. The five-level courthouse, constructed between 1927 and 1929, is on the National Register …

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Local developer pursued Topgolf for 4 years

Around 5 p.m. on Wednesday, June 22, Richard Hurd’s phone rang.

 

The commercial real estate developer answered, and on the other end was a representative from Topgolf. The global sports and entertainment company was …

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Altoona owes developer millions for work on Prairie Crossing development, judge rules

Des Moines Register: The city of Altoona broke an agreement to pay a developer for infrastructure work on Prairie Crossing and now owes roughly $2.5 million, a judge ruled Wednesday. The Prairie Crossing area, a large …

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Another massive shopping, entertainment center planned for fast-growing Waukee

Des Moines Register: One of the Des Moines metro area’s fastest-growing cities is in line for yet another massive new shopping and entertainment complex. Waukee Towne Center is planned for an undeveloped site south of Hickman …

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NOTABLE TRANSACTIONS: Latin King property sold to New Jersey real estate investment trust

A New Jersey-based real estate investment trust has purchased property on which the popular Latin King restaurant is located, Polk County real estate records show.

SCF RC Funding IV LLC paid Latin King RE LLC $2.15 …