A five-story building at 680 Eighth St. in downtown Des Moines is being torn down. The property is owned by Principal Financial Group, which has not announced plans for the property’s future use. Photo by Kathy A. Bolten

WHAT: Five-story office building constructed in 1960.

WHERE: 680 Eight St., downtown Des Moines.

BACKGROUND AND UPDATE: The building, bought by Principal Financial Group in 1991, is being demolished. The property was valued at $2.49 million in 2019, Polk County assessor records show. Principal paid National Travelers Life Co. $4.5 million, records show.

Principal began demolishing the building in October and expects the work to be completed by April, according to Lonnetta Ragland, a company spokeswoman. DCI Group is working with D.W. Zinser Inc. based in Walford to removed the 62,374-square-foot structure from the site.

Principal isn’t releasing demolition costs, Ragland wrote in an email. However, “we are committed to recycling as much as possible from the demo as a part of our sustainability efforts.” She estimated that about 75% of the materials from the building will be recycled. 

Ragland wrote that Principal officials are determining the property’s future use. 

A Commercial Real Estate Weekly feature in which we update the status of projects underway in the Greater Des Moines area. Want to include an update about your project or suggest a project to include? Email: kathybolten@bpcdm.com.