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Real Estate and Development

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$6.5 million building planned in Johnston by Underground Magnetics

Underground Magnetics plans to build a $6.5 million, 38,000-square-foot office and warehouse at 5401 N.W. Beaver Drive in Johnston. Rendering special to the Business Record

Underground Magnetics, a design, engineering and sale firm for horizontal directional …

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NOTABLE TRANSACTIONS: Des Moines pays $41.9 million for Fifth and Walnut parking garage

The sale of the troubled parking garage at Fifth Avenue and Walnut Street has been finalized.

The city of Des Moines paid Bankers Trust $41.9 million for the property, Polk County records show. The property …

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PROJECT UPDATE: Grand Living at Tower Place

Work is nearly complete on the five-story, 176-unit senior housing project called Grand Living at Tower Place, located at 540 S. 51st St. in West Des Moines. Photo below: The exterior of Grand Living at Tower Place …

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$54M plan would overhaul Birdland Park for fishing, boating and a new Captain Roy’s

Des Moines Register: The Des Moines City Council will vote March 22 on whether to adopt a $54 million master plan for Birdland Park that would transform what increasingly has become a deteriorated area. The plan …

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Communities secure funding for Trestle to Trestle Bridge

Des Moines Register: Two years after an ice jam collapsed the Trestle to Trestle Bridge over Beaver Creek, funding has been secured for its replacement. The new bridge, connecting Des Moines and Johnston on the Trestle …

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Des Moines-area home sales remain strong despite low inventory

Home sales in the Greater Des Moines area continued to be strong in February, with the sale of 851 residential properties, 10% more than a year ago, new data from the Des Moines Area Association …

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Area communities issue 300 residential building permits in February

Thirteen Des Moines-area communities and Polk County issued 300 residential permits in February, 75% more than the 171 issued in February 2020, a review of records show. The valuation of the permits issued in February …

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Health club announces it is buying vacant mall building for sports facility

A Kansas-based health club announced that it is buying the former Sears building at Southridge Mall in Des Moines and converting the 105,000-square-foot structure into a fitness and athletic complex. The redevelopment of the site …

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Much at risk if shopping centers remain the same

Twenty years ago, West Des Moines’ Valley West Mall was a regional magnet, attracting shoppers from throughout Iowa to its stores and nearby restaurants and hotels. 


The mall, with its mix of white and reddish-brown …

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NOTABLE TRANSACTIONS: California group pays $28.6 million for apartment complex

A California group paid $28.6 million for Signature Place Apartments in West Des Moines. The photo shows one of the buildings in the complex. Photo provided by Polk County assessor
A real estate investment trust based…