Real Estate and Development

New single-family home sales fell in February to a record low, with prices the lowest they have been since December 2003, the U.S. Commerce Department said today.

Sales dropped 16.9 percent to a seasonally adjusted …

The city of Des Moines is poised to select Sebasta Blomberg, a Roseville, Minn.-based engineering and design firm with an office in Cedar Rapids, to conduct sustainability audits on five downtown properties as part of …

U.S. commercial real estate fundamentals are on the upswing, according to a new survey from Pricewaterhouse Coopers. The Nashville Business Journal reported that the advisory firm is looking for the performance of the office, retail, …

Grubb & Ellis Co. said in a regulatory filing that it has hired investment bank JMP Securities LLC to help the company consider strategic alternatives, including a sale or merger, Bloomberg reported.

The Santa Ana, …

Global construction will outpace the world’s economic growth over the next decade, according to a report released in March by Global Construction Perspectives Ltd. and Oxford Economics Ltd. Advisory firm PricewaterhouseCoopers sponsored the Global Construction …

Iowa-Nebraska Equipment Dealers Association Inc. has acquired a 3.3-acre site in Johnston and plans to construct a 4,500-square-foot office building. Andrew Goodman, the trade association’s president, said construction is expected to begin on June 1 …

Mad Hat Ballroom has leased 2,520 square feet of retail space in Governor Square, 2700 University Ave. in West Des Moines. The tenant represented itself. The landlord, Governor Square LLC was represented by Jan Berg …

Sales of previously owned homes dropped more than forecast in February, and the median purchase price declined to the lowest point since February 2002, Bloomberg reported after the release of a report from the National …

Developer Bob Knapp, who hoped to turn downtown’s Equitable Building into luxury condominiums and commercial spaces, will be sentenced June 10 in U.S. District Court in Des Moines after pleading guilty to conspiring to violate …