NOTABLE TRANSACTIONS: Altoona farm ground purchased for warehouse development
KCI Altoona Industrial Land LLC, based in Kansas City, paid Valley Development Co. $4.37 million for 75 acres of farm ground in Altoona, Polk County real estate transactions show. KCI Altoona plans to develop up to 1.24 million square feet of warehouse space on the ground, which is located north of Northeast 62nd Avenue and west of Hubbell Avenue in Altoona. The Altoona City Council in December approved a development agreement with the group that would provide up to $2.7 million in tax increment finance money to the project over a 10-year period. The property in 2020 was valued at $89,360. The transaction was recorded on Jan. 26.
SBBP JV21 LLC, based in West Des Moines, paid Silverado Farms LLC $2.9 million for 41 acres of West Des Moines farm ground, records show. The property is located west of South 42nd Street between Iowa Highway 5 and Army Post Road. The transaction was recorded Jan. 27.
Kwik Trip Inc., based in La Crosse, Wis., paid McKee Auto Center Inc. $1.38 million for property at 5145 and 5125 N.E. 14th St. in Des Moines, records show. The property, which includes a used car lot on one-half of the land, was valued at $540,900, records show. The transaction was recorded on Jan. 28.
James Brick and Gail Sullivan paid Jon and Faith Garnaas $1.1 million for property at 13492 Lake Shore Drive in Clive, records show. The property includes a 3,091-square-foot house constructed in 2000. The transaction was recorded Jan. 29.
Garff Properties-Clive LLC, based in Salt Lake City, Utah, paid Holmes Automotive Group Inc. $680,000 for property at 2157 N.W. 114th St. in Clive, records show. The 5.3-acre parcel includes a mini-warehouse. The transaction was recorded on Jan. 29.
Perfect Place Properties LLC, based in Clive, paid Minnesota Properties I LLC $915,000 for property at 1250 N.W. 86th St. in Clive, records show. The property includes a 7,292-square-foot building occupied by Cool Basil restaurant. The transaction was recorded Feb. 1.
The real estate transactions were recorded in Polk and Dallas counties between Jan. 25 and Feb. 1.