Ingersoll Square retail development approaches a start date
The first phase of a 28,000-square-foot retail development in Des Moines will break ground in October.
Construction of a 14,000-square-foot building will kick off the retail portion of Ingersoll Square, 2005 Ingersoll Ave. The starting date for construction on a second building of equal size will depend on how quickly space is leased in the first building. Eventually the two buildings will have about 20 retail bays averaging 2,000 square feet; the total cost is estimated at $4.4 million.
The project sits at the northeast corner of Ingersoll Avenue and Martin Luther King Jr. Parkway and is being developed by High Land Co. LC. About 70 condominium units went on sale on the north half of the site last June.
Riley Hogan, retail adviser for Mid-America Commercial Real Estate, said retailers’ interest in the two planned buildings has been extremely strong. “You couldn’t ask for a better spot in Des Moines,” he said. Businesses that have shown interest include a salon, a fitness center, banks and a restaurant chain that hasn’t come to Des Moines yet. Complete details haven’t been released.
“Developers are looking for a good mix of retail to accommodate the condos,” he said.
Phyllis Kline, marketing coordinator for High Land Co., said no retail space has been leased yet.
The construction of the second retail building will complete High Land’s $40 million project.