Clemens Building in downtown Des Moines sold for $8.75 million
Property in the heart of downtown Des Moines that includes the Clemens Building has been sold to two entities based in New York City, Polk County real estate records show.
Clemens TIC LLC and Clemens Building LLC paid 621 Kellogg LLC $8.75 million for the property at 200 10th St. (pictured). 621 Kellogg is a limited liability company managed by Blackbird Investments LLC, which acquired the property in 2015.
In recent years, Blackbird Investments has been involved with several lawsuits that have accused the development group of failing to pay loans associated with its projects.
The six-story Clemens Building, constructed in 1917, was originally designed as showroom space for an automotive business. Blackbird, after it acquired the property, converted the second through sixth floors to 44 market-rate apartments.
The street level includes commercial space occupied by the restaurant Bubba – Southern Comforts.
The property is valued at $7.5 million. The transaction was recorded June 6.
In other transactions:
Hawkeye Investment Partners I LLC, based in Wheaton, Ill., paid I 80 Business Park LLC $16.98 million for property at 2131 and 2177 21st St. N.W. and 2220 and 2450 20th Ave. N.W., all in Altoona, records show. The property includes a 314,138-square-foot warehouse distribution center that is under construction (pictured). Hawkeye Investment Partners is managed by T2 Capital Management, a private equity real estate firm. The transaction was recorded June 7.
BMC Properties LLC, located in Des Moines, paid Available Material Handling LLC $1.2 million for property at 2130 and 2200 Sunset Road in Des Moines, records show. The property at 2130 Sunset Road includes an 11,597-square-foot office-warehouse structure built in 1988. The property is valued at $694,000. The 0.23-acre parcel at 2200 Sunset Road is vacant. The transaction was recorded June 6.
Penta Partners LLC, located in West Des Moines, paid Pioneer Hi-Bred International Inc. $1 million for property at 5560 Merle Hay Road in Johnston, records show. The 2-acre parcel includes a 1,036-square-foot office building constructed in 1968. The property is valued at just over $1 million. The transaction was recorded June 8.
Solid Ground LLC, located in Clive, paid Orville H & Iowa Mack Co. $1.5 million for property at 1000 E. Northside Drive in Polk City, records show. The transaction was recorded June 9.
Christa Willits and Ryan Willits paid Kimberley Development Corp. $1.25 million for property at 5015 162nd St. in Urbandale, Dallas County real estate records show. The property includes a 3,499-square-foot house whose construction was completed in 2022. The transaction was recorded June 5.