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Johnston office condos finding early interest

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The project is still in the grading stage, but Stewart Weeks Brown Commercial Real Estate Services already has sold four of the eight commercial condominium units it’s building in Johnston.

“Low interest rates are driving it,” said Paul Weeks, the company’s president. “They’re compelling people to consider ownership instead of leasing.”

The condos will be housed in a single-story, 14,800-square-foot building about a mile north of Interstate 35/80 and west of Northwest 86th Street on Windsor Parkway. The brick-faced structure will sit on a 2-acre site that’s one of 20 lots in the Windsor Office Park, and is expected to be ready for occupancy next January.

Weeks said the project is the first venture into office condos for the 4-year-old partnership among himself, Bob Stewart and Peter Brown. “It’s been a long time since anyone has delivered new, small office condos in this area,” he said.

A second, similar project is already being planned. “The people buying now know prospects who would be interested,” Weeks said.

K&R Consulting, Diversified Management Associates, Skin Solutions Laser Enhancement Center and Iowa Acupuncture have purchased condo units. The building’s units range in size from 1,651 to 2,136 square feet and are priced from about $268,000 to about $341,000.

Stewart Weeks Brown has owned the 35-acre park site for about 3½ years. Three of the lots have been sold, one of which is occupied by the Iowa Health Clinic, and three others are under contract for sale.

The lots are zoned primarily for office and support retail. However, a site plan before the Johnston City Council also includes apartment units above 19,000 square feet of office space on two of the lots.

Weeks said he hopes the condo office building will draw more attention to the area. “We have had to work harder to sell lots, because Windsor is a little off the beaten track,” he said. “We thought we needed to do something different to attract buyers; it’s difficult to sell off a blueprint in our market.”

Simonson & Associates Architects LLC designed the building and Regency Commercial Services is the general contractor.