NOTABLE TRANSACTIONS: Flux Apartments sold for $12.7 million
Kathy A. Bolten Feb 4, 2026 | 6:00 am
1 min read time
345 wordsAll Latest News, Real Estate and DevelopmentOwnership of the Flux Apartments in downtown Des Moines has changed hands.
Rittenhouse Square LLC, located in Columbia, Mo., acquired the property at 1400 Walnut St. for $12.7 million, Polk County real estate records show. The multifamily property had been owned by 2B Residential, a division of Balke Brown Transwestern, a commercial real estate brokerage, property management and development company located in St. Louis.
The 90-unit, five-story apartment building was constructed in 2017 and 2018. It includes underground parking. The project was developed by Roers Co., based in Minnetonka, Minn.
The property is valued at $14.5 million. The transaction was recorded Jan. 29.
In other transactions:
Ankeny Boulevard LLC, located in Ankeny, paid Nona Zelcer $1.1 million for property at 423 S. Ankeny Blvd., records show. The property includes a one-story, 13,297-square-foot building constructed in 1970. The property is valued at $777,400. The transaction was recorded Jan. 26.
AutoZone Development LLC, based in Memphis, Tenn., paid Rider Corner Development LLC $1.8 million for property at 10950 Plum Drive in Urbandale, records show. The 4-acre parcel is undeveloped. The transaction was recorded Jan. 28.
HD Investments Group LLC, located in Clive, paid Nguyen Property LLC just over $1 million for properties at 4779 and 4809 NW 62nd Ave. in Johnston, records show. Each parcel includes a two-story, seven-unit apartment building constructed in 1967. Each property is also valued at $524,000. The transaction was recorded Jan. 29.
NNN REIT LP, located in Orlando, Fla., paid YBRDM22 CRE Partners LLC $4.2 million for property at 756 Ninth St. in downtown Des Moines, records show. The property includes a two-story, 37,574-square-foot building that was constructed in 1961. A preschool and child care center are located in the building. The property is valued at $2.7 million. The transaction was recorded Jan. 30.
Dallas County
The Fox Family 2017 Trust paid Dean and Caitlyn Shivvers just over $1 million for property at 34968 Vintage Trail in Waukee, Dallas County real estate records show. The 1.7-acre parcel includes a 2,188-square-foot house built in 2005. The transaction was recorded Jan. 27.
Kathy A. Bolten
Kathy A. Bolten is a senior staff writer at Business Record. She covers real estate and development, workforce development, education, banking and finance, and housing.



