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It's true of our buildings and relationships.

Steel and concrete anchors our buildings. However, our relationships are built on trust and respect. Clients trust us because we do what we say we'll do. They respect us because we're honest with them. Discover ﬁ rsthand why we've grown to more than four million square feet of space and serve nearly 900 tenants.

Chris Blake Jon Bill David Maria Dan Darcy Michael Carson Murray Brown Lowman Gardner Kinsley Schuessler Corron Gill Billings Hughes

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)8//(552$'bɽb:(67'(602,1(6,$bɽb ZZZ+85'5($/7<FRPb ART & PRODUCTION ADMINISTRATION SENIOR GRAPHIC DESIGNER BPC VICE PRESIDENT Brianna Schechinger Jason Swanson

ANNUAL REAL ESTATE MAGAZINE BUSINESS MANAGER LEAD GRAPHIC DESIGNER Eileen Jackson Lauren Hayes ACCOUNTING SPECIALIST 8 GRAPHIC DESIGNER Becky Hotchkiss Danielle Miller OFFICE MANAGER PHOTOGRAPHER Laura Stegemann Duane Tinkey INSIDE SALES REPRESENTATIVE COPY EDITOR Alison Damon Kurt Helland SENIOR STAFF WRITER 23 Kent Darr LEADERSHIP BPC CHAIRMAN Connie Wimer ADVERTISING BPC PRESIDENT DIRECTOR OF ADVERTISING Janette Larkin Ashley Holter PUBLISHER ANNUAL REAL ESTATE MAGAZINE Chris Conetzkey SALES MANAGER 40 Maria Davis

SENIOR ACCOUNT EXECUTIVES Lori Bratrud Katherine Harrington

MARKETING COORDINATOR Catherine Skepnek 64

The Annual Real Estate Magazine is published at Business Publications Corporation Inc, an Iowa corporation, 89 at The Depot at Fourth. Contents ©2017. All rights reserved. Reproduction or other use, in part or in whole, of the contents of the magazine without written permission of the publisher is prohibited.

Business Publications Corporation, Inc. cannot guarantee the accuracy of all information or be responsible for 104 any errors or omissions. Additional copies may be obtained by calling (515) 288-3336.

The Depot at Fourth, 100 4th St. Des Moines, IA 50309 (515) 288-3336 www.businessrecord.com/AREM 122

4 annual REAL ESTATE magazine MARKET OUTLOOKS OFFICE 8 RETAIL 12 INDUSTRIAL 14 LAND 18

MARKET FACTS DES MOINES AND THE SURROUNDING AREA

OFFICE ROUNDTABLE Q&A 40 LISTINGS FOR SALE 46 LISTINGS FOR LEASE 52

RETAIL ROUNDTABLE Q&A 64 LISTINGS FOR SALE 70 LISTINGS FOR LEASE 76

LEADERS IN REAL ESTATE DES MOINES REALTOR PROFILES

INDUSTRIAL ROUNDTABLE Q&A 104 LISTINGS FOR SALE 111 LISTINGS FOR LEASE 116

LAND ROUNDTABLE Q&A 122 LISTINGS FOR SALE 129 LISTINGS FOR LEASE 144

INDUSTRY TRENDS 50 74 114 142 Commercial Real Estate Experts

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CBRE|Hubbell knows Greater Des Moines. Through our industry leading perspectives, scale and local connectivity, we deliver outcomes that drive business and bottom-line performance for every client we serve. How can we help transform your real estate into real advantage?

For more information contact or visit: Kyle Gamble, Managing Director +1 515 224 4900 cbre.com/desmoines Part of the CBRE affiliate network IN THE HUNT FOR WORKERS, EMPLOYERS HOPE OFFICE SPACE CAN WIN OVER PROSPECTS

8 annual REAL ESTATE magazine OFFICE

BY KENT DARR

Offices are changing at a rapid pace. employers in Greater Des Moines. inform their decision that much better In an effort to recruit and Employers are desperate for talented on that space,” Bruns said. “It's unique, retain workers, companies want to workers to fill a range of positions. I think.” accommodate the suit-and-tie crowd Johansen pointed out that one Companies want longevity of along with the T-shirt and sneakers local employer decided to expand in design, even though the offices are crowd, even if they need to separate Colorado rather than Greater Des changing rapidly, Hermann said. The the two. Moines because it could not staff a need is for office spaces that can be That’s all part of an effort to larger local operation. upgraded with ease over a longer get to “cool,” said Bill Wright, an “More and more companies are period of time. office specialist with CBRE|Hubbell competing for talent, so they're using “How can you build to try and Commercial. And the fact of the their space as a way to attract and help future-proof those spaces matter is clients spend a lot of time retain employees,” she said. against having to change? There are on the search, seeking out architects, Other changes are occurring. some good strategies out there to do furniture suppliers and contractors Office users are placing an emphasis that, but it just boils down to a lot of who can deliver the goods. on furniture, to the point that those flexibility,” she said. “And I think that speaks a lot considerations outweigh hard Construction companies are to the rate of change. I believe construction costs in an office rehab, reacting to the need for flexibility. companies want to see something Bruns said. “You're into a very flexible space that, while it's changing rapidly, is “The furniture companies, or the that could be reconfigured over time,” a bit proven, to know that it works, big furniture companies, are starting Bruns said. “If you can make that to be able to talk to someone who to actually provide more services space cool, and it fits the culture, go has maybe made the transition and because they understand the role that for it, right?” understand what challenges they they're playing in the process, and And speaking of time, Wright also faced, what worked, what didn't have in the last decade probably led pointed out that the time-honored work, what would they change, the way in the research around the tradition of signing a long-term lease even if they're only a year into it,” workplace,” Hermann said. — 10 years, let’s say — at a fixed rate said Danielle Hermann with OPN And companies are not shy is losing favor to leases with annual Architects Inc. about sharing their innovations with escalators, as has been common for Wright and Hermann competitors, at least so far as office some time in larger cities. participated in a video roundtable on innovations that are intended to “With the real estate prices the office market that the Business attract workers. rising, and seeing that kind of annual Record hosted earlier this year. They “In spite of this competition for escalator, foreign or coastal-type real were joined by Ben Bruns of Weitz talent, companies are open to bringing estate investors are taking a hard look Co. and Jackie Johansen of R&R others through their space and sharing at Des Moines,” Wright said. Equity Partners. their ideas and how they got to where The search for cool is key to they got to from a decision-making a challenge confronting many perspective, so the next company can

THE ROUNDTABLE Q&A PAGE 40 ISSUES DISCUSSED 7KH%XVLQHVV5HFRUGKRVWHGDJURXSRIIRXUFRPPHUFLDOUHDOHVWDWHDQG 7KHJURZLQJLQŶXHQFHRIIXUQLWXUH FRQVWUXFWLRQSURIHVVLRQDOVIRUDYLGHRURXQGWDEOHRQWKHWRSLFRIRIŵFHVSDFH FRPSDQLHVLQZRUNSODFHUHVHDUFK .H\WRSLFVIURPRXUGLVFXVVLRQDUHIHDWXUHGLQDQDUWLFOHNLFNLQJRIIWKHRIŵFH &KDQJHVLQOHDVHWHUPV VHFWLRQRIWKLVPDJD]LQH 8VLQJRIŵFHVSDFHDVDUHFUXLWPHQWWRRO

WATCH THE VIDEO :DQWWRZDWFKWKHURXQGWDEOHLQLWVHQWLUHW\"*RWREXVLQHVVUHFRUGFRP$5(0

annual REAL ESTATE magazine 9 Pro Forma

Financing

Design and Contractor Agreements

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annual REAL ESTATE magazine 11 JORDAN CREEK IS THE TORCH LEADING RETAILERS TO GREATER DES MOINES

12 annual REAL ESTATE magazine RETAIL

BY KENT DARR

Retail in Greater Des Moines is Stafford agreed: “You can have the my mind, retail is easier because I get beginning to reap the rewards from other conversation about the other a longer-term lease.” a national retail spotlight that beats parts of town. That’s something that To a person, our panel was down on Jordan Creek Town Center. we didn’t have before Jordan Creek. It enthusiastic about developments in Jordan Creek “opens the door,” said was a struggle.” the East Village and encouraged by Colleen Johnson of CBRE|Hubbell The other parts of town are the overall transformation of Des Commercial, who joined Rich benefiting. Johnson said an estimated Moines. Developing retail west of the Eychaner of Eychaner Properties 30 retail projects are in various Des Moines River in the downtown and Christopher Stafford of NAI segments of development in Greater core will remain a challenge. Optimum for a Business Record- Des Moines, an indication of “I think if you look at the central hosted roundtable discussion about enthusiasm for the types of centers that business district, for a lot of years the Greater Des Moines retail market. supply the basics — such as nail salons, despite the fact that we had a really The roundtable covered a lot dry cleaners, professional services strong downtown office market — of territory, including the expected — close to rooftops. And lenders are we’ve always talked about 75,000 to emergence of the Kettlestone area in warming to the projects, too. 100,000 people working in downtown Waukee as a retail hot spot, lenders’ Stafford said retailers are being Des Moines — that never attracted newfound fondness for funding retail forced to reinvent themselves, or kept or made retailers successful, projects, the back story of Eychaner’s especially in the face of e-commerce, ever. We saw them try and leave,” 300 MLK development in downtown failures among national brands and Johnson said. “What’s changing that Des Moines, and the differences mergers among others. now is the tremendous, significant between planting retail in the East Eychaner — who has proved development of housing in downtown Village and in the downtown core. to be adept reinventing worn-out Des Moines. That’s going to change We slowly worked our way toward neighborhood centers, even creating a that retail component.” Jordan Creek, but it clearly is the new one at what might be downtown The downtown Hy-Vee Inc. “the big guy in the room, and you Des Moines’ busiest intersection at operation could foretell the future of don’t cross the big guy in the room,” Third Avenue and Martin Luther retail in the core. Eychaner said. King Jr. Parkway — agreed. “I think a year to 18 months “We had a 10-year period of “People aren’t building shoe is going to be very pivotal for time where very little retail was stores. They’re not building paint downtown. The Hy-Vee on Court built around the city because Jordan stores, they’re not building hardware Avenue is an amenity that residents Creek sucked up all that stuff,” stores, they’re not building what we haven’t had. How do they interact Eychaner said. used to think of as retail,” he said. with the residents, how do they These days, it is looking as As an old retail hand, Eychaner interact with the (downtown) though there might be enough retail finds less risk in retail than in employees? Is that just for residents, to spread around. apartments, for example. or do employees use it as a part of “When we used to call on national “I like retail because I get five- their daily routine? I think it will be retailers, years ago, if you could year leases, 10-year leases. I look at interesting,” Stafford said. get a call back about Des Moines, residential, I say, ‘I’m going to have a The core needs to take a step Iowa, it was frequently a very short one-year lease, and I gotta fill those beyond the “pop-up” restaurants, he conversation,” Johnson said. “It has apartments back up.’ No. It scares me said: “Those are very popular and gotten easier because you don’t have to death to think that my tenant may doing good, but at some point our to tell national retailers now about be gone in a year and I have another downtown has to take a step beyond Des Moines.” 29 years to pay that mortgage. So in those from a retail standpoint.”

THE ROUNDTABLE Q&A PAGE 64 ISSUES DISCUSSED We hosted a group of three real estate professionals at the Business Record for Jordan Creek Town Center is a beacon a video roundtable about retail development. Key topics from our conversation and a black hole for retail. are featured in an article kicking off the retail subsection of this magazine. The ingredients of a successful retail project. WATCH THE VIDEO Lenders are warming up to retail. Want to watch the roundtable in its entirety? Go tobusinessrecord.com/AREM

annual REAL ESTATE magazine 13 LET’S BUY A WAREHOUSE

14 annual REAL ESTATE magazine INDUSTRIAL

BY KENT DARR

Business Record Publisher Chris the cavernous former R.R. Donnelley grade product, it’s expected to see Conetzkey and I walked out of a warehouse on Des Moines’ Park rent bumps if you’ve got national roundtable discussion on industrial Avenue, said the super efficient lights investors coming in to take a look at properties with the same thought: are a big part of the upgrade. this market. And it adds value to the Maybe we should buy a warehouse. A trend that is spreading across property overall.” That’s a big idea for a couple of other sectors of the commercial Landlords are finding a new breed journalists, but after hearing a panel real estate market is annual bumps of tenant for some warehouse space: of experts talk about the need for in lease rates. During a separate users, such as Hy-Vee Inc., who walk more space and the fact that right now, roundtable on the office sector, through a wide-open area with tall because of low vacancies, landlords panelists said that what are called ceilings and envision hybrid office space. have the upper hand in the market, we escalators have become commonplace. “We’ve had a lot of activity figured we were onto a sure thing. Whether your expertise is industrial with nontraditional users,” Bonnett Our experts — Mike Bonnett or office, the annual increases help said. “They’ve been around for a of R&R Real Estate Advisors, Andy drive up property values and draw the while but I think there’s more folks Hodges of Signature Commercial attention of national investors. getting into that arena than before. Real Estate, Matt Lundberg of NAI “I think it’s just a sign of a strong I think traditionally, we had a lot of Optimum and Chris Pendroy of market, especially when a tenant new sports users here. Recreational Iowa Realty Commercial — were comes up for renewal,” Lundberg facilities, family centers that were upbeat about the hybrid flex spaces, said. “Let’s say (tenants) get a five- out looking for places where their warehouses, manufacturing and or seven-year deal. When they first kids could play basketball, could play distribution centers that make up the struck that initial lease, they were baseball in the winter months.” industrial market. probably expecting and probably Hodges said nontraditional users And let’s face it, you have to getting a flat rate for that entire term. are blending in. be upbeat to pique the investment ... I think that in today’s market if you “I think the credit profile of these curiosity of a couple of business don’t educate your clients they might users has gotten better. And I think reporters. Normally, we just write have somewhat of a rude awakening the other tenants you have in your about the people taking the risks. knowing that they’re not going to get parks have become more accepting of Interesting trends are afoot. all the concessions they got the first those tenants in the facilities,” he said. Developers of new space continue go-round.” But what about the super user, to push up ceiling heights. We heard Bonnett said R&R incorporated Amazon.com Inc. Where is it? When the expression “32 clear” a lot. the escalators into their leases a few will it arrive in Greater Des Moines? That means 32-foot-tall ceilings, a years ago. “Well, I think the driver behind relatively new trend in Greater Des “The annual rent bumps were that’s going to be their platform of Moines but a staple in big cities more consistent with what is same-day delivery,” Pendroy said. located at the junctions of interstate happening in other markets that we “If you’re going to push that into highways and rail systems. compete with here in the Midwest. secondary and tertiary markets ESFR is in demand. That’s a fancy That really helped us get that started,” (such as Greater Des Moines), you’re fire sprinkler system that is favored he said. going to have to have a presence in by insurance companies. The insurers Pendroy said: “I started my career those markets.” pass their fancy for ESFR along to in Minneapolis working seven years in Now, about that investment warehouse and distribution tenants in industrial, and there the rent bumps opportunity. the form of lower insurance premiums. are the norm. In major markets they “I think it’s a real lucrative And don’t even think about have been for many, many years. I property buy,” Hodges said. taking a pass on LED lighting. think with Des Moines having grown Hodges, whose company is renovating into that next level with institutional-

THE ROUNDTABLE Q&A PAGE 104 ISSUES DISCUSSED

We hosted a group of four real estate professionals at the Business Record for For new warehouse projects, a video roundtable on the topic of industrial properties. Key topics from our height matters. conversation are featured in an article kicking off the industrial subsection of A big need for smaller spaces. this magazine. The drive to cut the distance to rooftops. WATCH THE VIDEO Want to watch the roundtable in its entirety? Go to businessrecord.com/AREM

annual REAL ESTATE magazine 15 Just east of Des Moines, 900 acres of land are ready for development, and retail destinations A NEW STAR IS RISING. like The Outlets of Des Moines are digging in…breaking new ground while building to the sky. That’s because Altoona, Iowa’s Rising Star, is already attracting shoppers from across the region and outspending its peers by nearly double. Join the movement—it’s happening right now in the City of Altoona. #altoonanow

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16 annual REAL ESTATE magazine annual REAL ESTATE magazine 17 LUXURY HIGH-RISES CAPTURE THE WOW FACTOR, BUT WE’RE MISSING A NEED FOR AFFORDABLE HOUSING

18 annual REAL ESTATE magazine LAND

BY KENT DARR

Millennials — some of them, The use of development incentives to start having those conversations anyway — are ready to move out also was at the heart of much in tandem with one another … of apartments and buy, and empty- conversation. Doyle, whose company otherwide we’re trying to fix it later nesters are are looking for a carefree is behind a planned 32-story luxury or respond to it later or not worry lifestyle where they can rent or high-rise at the site of the former about it at all and all of a sudden maybe own in an urban setting and Younkers Building, believes that we’re realizing that we can’t attract still be responsible adults for visiting cities should use the weight of their the kind of workforce that we need.” children and grandchildren. tax increment financing and tax Affordable housing is needed Those interests mean that a abatement programs as a way to shape for that workforce, yet that option range of housing choices needs to projects to community standards. is getting attention from just a few be offered, especially in the growing Burmeister said those incentives developers at the moment. neighborhoods that have defined should be used to encourage the Doyle and Burmeister said themselves in downtown Des Moines. development of affordable or the city of Des Moines should use That fact has not been lost on workforce housing. He cautioned the “bully pulpit” provided by developers, according to panelists who that if the promotion of retail is the development incentives to extract participated in a video roundtable focus of an economic development a commitment from developers to discussion about land use and agenda, it should contain a provide affordable housing units as development at the Business Record. workforce housing component. part of their projects. Participating were Eric Burmeister has paid close “I think one of the greatest Burmeister of the Polk County attention to what appears to be a mechanisms we could use as a Housing Trust Fund, Justin Doyle of collapse of retail at Nicollet Mall in community in order to motivate Blackbird Investments, Hollie Askey downtown Minneapolis. Major tenants developers and investors to do that of the city of Norwalk and Davis Macy’s and Barnes and Noble are is to use the strong arm of municipal Sanders of RDG Planning & Design. pulling out of the 13-block heart of the (incentives),” Doyle said. Other cities Sanders said planning and city’s retail and entertainment district. do it, so should Des Moines, he said. designing is being done in the “I see a couple of concerning or Askey pointed out that a chief context of what already exists. There growing trends coming together, and concern for the city of Norwalk as is isn’t a lot of space, downtown at that is the kind of construction that well as other communities along the least, that is left for freewheeling we’re seeing in terms of retail ... in southern ring of Greater Des Moines one-off projects. terms of some of our entertainment is the ability to attract retail. His firm is involved in master- districts that we’re looking at and “They’ve gotten to the point planning several neighborhoods; understanding how we’re going to where they’re very healthy in one is the new Gray’s Station that house that workforce,” he said. “The their industrial, commercial, would fill an area between Martin fact is that I think if you ask folks manufacturing, warehouse and Luther King Jr. Parkway and the in the C-suites in Des Moines right residential,” she said. “They are very Raccoon River with a range of now, what their biggest concern is is strong, they’re growing. They have a housing types, and that’s for a reason. finding workforce. need for retail.” People who participated in focus “Right now, I think the biggest group discussions as Hubbell Realty opportunity that we have in Des Co. were interested in everything Moines of attracting the kind of from owning to renting in a range of workforce we need is the built housing styles. environment. The fact is that we need

THE ROUNDTABLE Q&A PAGE 122 ISSUES DISCUSSED :HKRVWHGDJURXSRIIRXUUHDOHVWDWHSURIHVVLRQDOVDWWKH%XVLQHVV5HFRUGIRU Affordable housing needs to catch up DYLGHRURXQGWDEOHRQWKHWRSLFRIODQGXVHDQGGHYHORSPHQW.H\WRSLFVIURP with retail development. our conversation are featured in an article kicking off the land subsection of 'HV0RLQHVGRHVQőWŵWROGVWHUHRW\SHV this magazine. Incentives should send a message DERXWFRPPXQLW\H[SHFWDWLRQV WATCH THE VIDEO :DQWWRZDWFKWKHURXQGWDEOHLQLWVHQWLUHW\"*RWREXVLQHVVUHFRUGFRP$5(0

annual REAL ESTATE magazine 19 OUR IN-HOUSE DRONE CAPABILITIES SERVE OUR CUSTOMERS BY MORE ACCURATELY TRACKING SITE PROGRESS, EFFICIENTLY DEPLOYING SITE RESOURCES AND MINIMIZING POTENTIAL PROJECT SETBACKS.

GO TO WEITZ.CO/HOTELDRONE TO SEE IT IN ACTION.

JIM MCCULLOH, SR. VICE PRESIDENT

BEN BUNGE, PROJECT MANAGER FOR THE IOWA EVENTS CENTER HOTEL

WEITZ.COM FOR A QUARTER OF A CENTURY, KNAPP PROPERTIES INC HAS BEEN A LEADER IN DEVELOPMENT, MANAGEMENT AND BROKERAGE. BUILDING STRONGER COMMUNITIES, TRANSFORMING SKYLINES AND MAKING THINGS THAT MAKE US PROUD HAS BEEN OUR PLEASURE FOR 25 YEARS.

THANKS, DES MOINES!

What does longevity mean to us? At Knapp Properties, CPFFQPŦVEWVEQTPGTUDGECWUGYGMPQYCPQHƒEGKU it means buildings we can tell our kids about, more than a collection of concrete and rebar, an apartments where generations can grow up, land that apartment goes well beyond its foundation and a plot can become the latest community, and partner represents more than an investment. They’re all relationships that span decades. We believe in Knapp Properties and that means they’re something creating structures that last, properties that serve their permanent, something lasting, something that brings purpose over lifetimes and bedrock principles that us together. For 25 years, we’ve believed that and have sustained us for the last 25 years; service, Knapp Properties, Inc looks forward to building an integrity and trust. We work with durable materials even brighter future over the next 25 and beyond.

5000 Westown Pkwy, Ste. 400 | West Des Moines, IA 50266-5921 T.515.223.4000 | F.515.222.5220 | www.knappproperties.com Brokerage Property Management Technology Development Construction Investment Tenant representation

RRrealty.com 515-223-4500 MARKET FACTS DES MOINES METROPOLITAN AREA

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SOURCE: CBRE|Hubbell commercial and Frandson & Associates, L.C. | annual REAL ESTATE magazine 23 OFFICE

7KHHQWLUHRIƓFHPDUNHWDQDO\VLVLQFOXGHVFRPSHWLWLYHDQGQRQFRPSHW LWLYHRIƓFHVSDFHLQ&ODVVHV$%DQG&2IƓFHYDFDQFLHVKDYHGHFOLQHG CENTRAL BUSINESS DISTRICT WESTERN SUBURBS FIG. 1 VOLJKWO\IURPWKHSUHYLRXV\HDUZKLOHVRPHQHZVSHFXODWLYHRIƓFH EXLOGLQJVDUHEHLQJFRQVWUXFWHG1HZGHYHORSPHQWRI&ODVV$RIƓFH CLASS FULL SERVICE RATE/SF CLASS FULL SERVICE RATE/SF VSDFHLVPDLQO\DUHVXOWRIKRPHRIƓFHH[SDQVLRQVDQGRZQHURFFX SLHGFRQVWUXFWLRQ/HDVHUDWHVKDYHLQFUHDVHGDQGWHQDQWFRQFHVVLRQV A $17.75 to $25.00 A $18.00 to $24.50 FRQWLQXHEXWDUHGHSHQGHQWXSRQVSHFLƓFEXLOGLQJFRQGLWLRQV)LJ VXPPDUL]HVWKHUHQWDOUDWHUDQJHVLQGLFDWHGE\WKLVVXUYH\IRUWKHWKUHH B $15.00 to $17.75 B $15.00 to $18.00 FODVVHVRIVSDFH

C Less than $15.00 C Less than $15.00 ENTIRE MARKET INVENTORY Ř,QWKH&%'QHZFRQVWUXFWLRQRI(0&ōV&ODVV$RIƓFHEXLOGLQJDGGLWLRQ Ř7KH.UDXVH*DWHZD\&HQWHUORFDWHGDW*UDQG$YHQXHLQ*DWHZD\ LVQHDULQJFRPSOHWLRQ7KHEXLOGLQJFRQWDLQVVTXDUHIHHWDQGLV :HVWLVXQGHUFRQVWUXFWLRQFXUUHQWO\6WHHOJLUGHUVDUHEHLQJSODFHGDQG ORFDWHGDWWK6WUHHW WKHƓUVWŴRRULVVWDUWLQJWRWDNHVKDSH7KLVZLOOEHWKHQHZKHDGTXDUWHUV IRU.XP *RDQGZLOOFRQVLVWRIDƓYHVWRU\EXLOGLQJFRQWDLQLQJ Ř$VTXDUHIRRW&ODVV%RIƓFHEXLOGLQJKDVEHHQFRQVWUXFWHGLQ VTXDUHIHHW&RPSOHWLRQLVH[SHFWHGLQHDUO\ -RKQVWRQDQGDGGHGWRWKHVXUYH\7KLVRIƓFHLVRZQHURFFXSLHGE\$.& 0DUNHWLQJDQGLVORFDWHGZHVWRIWK6WUHHWDW7KRPDV$YHQXH Ř.HPLQ,QGXVWULHVōQHZGHYHORSPHQWDW6FRWW$YHQXHLVQHDULQJ WKHHQGRIFRQVWUXFWLRQ7KLVGHYHORSPHQWLQFOXGHGQHZFRQVWUXFWLRQ Ř,QWKHVDPHQHLJKERUKRRG3UHPLHU&UHGLW8QLRQKDVFRQVWUXFWHGD FRPSOHWHGLQSKDVHVIURPWRDQGFRQVLVWVRIWKHDGGLWLRQRI ORDQRIƓFHDW7KRPDV$YHQXH7KLV&ODVV%EXLOGLQJFRQWDLQV ODEVSDFHSURGXFWLRQIDFLOLWLHVDQGDQHZFRUSRUDWHKHDGTXDUWHUV7KH VTXDUHIHHWDQGLVFRPSOHWHO\RZQHURFFXSLHG QHZWZRVWRU\FRUSRUDWHKHDGTXDUWHUVRIƓFHLVFRQQHFWHGWRWKHUHVWRI Ř,Q$QNHQ\D&ODVV%RIƓFHEXLOGLQJKDVEHHQFRQVWUXFWHGDQGDGGHG WKHIDFLOLW\DQGFRQVLVWVRIVTXDUHIHHW WRWKHLQYHQWRU\7KLVLVDVLQJOHWHQDQWRIƓFHRFFXSLHGE\&HQWXU\ )LJGHPRQVWUDWHVDJJUHJDWHRIƓFHLQYHQWRU\LQWKHHQWLUHPDUNHW ORFDWHGDW6:0DJD]LQH5RDG7KHQHZO\FRQVWUXFWHGEXLOGLQJ VHJUHJDWHGE\FODVVDQGE\VXEPDUNHW FRQWDLQVVTXDUHIHHW

OFFICE INVENTORY - ENTIRE MARKET FIG. 2

CLASS A CLASS B CLASS C TOTAL (SF) TOTAL BUILDINGS

Submarket 2015 2016 2017 2015 2016 2017 2015 2016 2017 2015 2016 2017 2015 2016 2017

Western Suburbs 7,510,544 7,653,344 7,732,352 3,377,707 3,384,707 3,457,544 2,630,366 2,630,366 2,630,366 13,518,617 13,668,417 13,820,262 342 345 351

CBD 5,815,325 5,815,325 5,917,600 2,712,099 2,712,099 2,712,099 3,179,744 3,127,688 3,127,688 11,707,168 11,655,112 11,757,387 112 111 112

Northwest Des Moines 0 0 0 125,432 125,432 125,432 749,041 739,441 739,441 874,473 864,873 864,873 59 58 58

Northeast Des Moines 0 0 0 102,507 102,507 102,507 299,655 291,747 270,947 402,162 394,254 373,454 25 24 23

South Des Moines 0 0 0 197,981 197,981 153,607 220,297 220,297 220,297 418,278 418,278 373,940 20 20 19

Ankeny 16,732 16,732 16,732 338,194 338,194 359,374 167,481 167,481 167,481 522,407 522,407 543,587 36 36 38

Greater Des Moines Total 13,342,601 13,485,401 13,666,684 6,853,920 6,860,920 6,910,563 7,246,584 7,177,020 7,156,220 27,443,105 27,523,341 27,733,467 594 594 601

OCCUPANCY AND EVENTS Ř7KHUHZDVPLQLPDOWRQRFKDQJHLQRFFXSDQF\RYHUDOOIRU&ODVVHV$ Ř7KH,07*URXSKDVDQQRXQFHGSODQVIRUWKHFRQVWUXFWLRQRIDQ DQG%7KHUHZDVDGHFOLQHLQWKH&ODVV&RFFXSDQF\RYHUDOOGULYHQE\ VTXDUHIRRWRIƓFHEXLOGLQJQRUWKRI0LOOV&LYLF3DUNZD\DQGHDVWRIVW WKHYDFDWLQJRIDQVTXDUHIRRWRIƓFHLQWKH6RXWKVXEPDUNHW 6WUHHWLQ:HVW'HV0RLQHV +XEEHOO5HDOW\KDVSXUFKDVHGWKLVIRUPHU)DUPODQG,QVXUDQFH+HDGTXDU Ř+ROPHV0XUSK\ $VVRFLDWHVSODQVWRPRYHWKHLURSHUDWLRQVIURP WHUVDW%HOODQGZLOOUHQRYDWHWR&ODVV$VSDFHWKDWLVDYDLODEOHIRU :HVW'HV0RLQHVWR:DXNHHZLWKLQWKHQH[W\HDU7KHLQVXUDQFHEURNHU PXOWLSOHWHQDQWV DJHƓUPKDVRXWJURZQWKHLUFXUUHQWO\OHDVHGVSDFHDWVW6WUHHWDQG :HVWRZQ3DUNZD\+ROPHV0XUSK\LVWKHƓUVWFRUSRUDWLRQWRDQQRXQFH

24 annual REAL ESTATE magazine | SOURCE: CBRE|Hubbell commercial and Frandson & Associates, L.C. GREATER DES MOINES plans to move to the Kettlestone development. The 90,000 square foot OFFICE VACANCY FIG. 3 building is underway and expectations are for the project to be completed by early 2018. Ř5 55HDOW\*URXSKDVDQQRXQFHGWKHGHYHORSPHQWRI:HVWƓHOG &RPSOH[ZKLFKLVDPLOOLRQRIƓFHFDPSXVORFDWHGRQDFUHVLQ &ODVV& &RXQWU\&OXE2IƓFH3OD]DLQ:HVW'HV0RLQHV7KHFRPSOH[ZLOOFRQVLVW &ODVV% RIWZRVTXDUHIRRWIRXUVWRU\RIƓFHZLQJVDQGZLOOEHFRQQHFWHG

3HUFHQW &ODVV$ by a four-story collaboration center. Completion and initial occupancy is 7RWDO expected in mid 2018. Ř0LOOV&URVVLQJLVDSURSRVHGVTXDUHIRRW&ODVV%RIƓFHEXLOGLQJ ORFDWHGDW6RXWKWK6WUHHWLQ:HVW'HV0RLQHV7KHSURSRVDOLVIRU a four-story multi-tenant building with approximately 10,000 square feet available for negotiable NNN rent.

OFFICE OCCUPANCY - ENTIRE MARKET FIG. 4

CLASS A CLASS B CLASS C TOTAL (SF)

Submarket 2015 2016 2017 2015 2016 2017 2015 2016 2017 2015 2016 2017

Western Suburbs 94.8% 93.5% 92.7% 88.3% 88.5% 86.6% 89.4% 90.3% 89.3% 92.1% 91.6% 90.6%

CBD 92.1% 94.3% 95.4% 82.9% 85.1% 86.8% 94.8% 95.9% 93.0% 90.7% 92.6% 92.8%

Northwest Des Moines N/A N/A N/A 94.5% 96.8% 96.8% 83.6% 83.3% 84.1% 85.1% 85.3% 85.9%

Northeast Des Moines N/A N/A N/A 100.0% 100.0% 100.0% 87.5% 90.2% 89.7% 90.7% 92.8% 92.5%

South Des Moines N/A N/A N/A 96.3% 73.9% 95.3% 90.9% 88.5% 38.4% 93.4% 81.6% 61.7%

Ankeny 100.0% 100.0% 100.0% 72.0% 80.0% 78.4% 94.7% 95.5% 92.5% 80.2% 85.6% 83.4%

Greater Des Moines Total 93.6% 93.9% 93.9% 85.9% 86.6% 86.9% 91.2% 92.1% 88.9% 91.0% 91.6% 90.8%

ABSORPTION GREATER DSM OFFICE ABSORPTION FIG. 5 Ř$EVRUSWLRQLVWKHQHWLQFUHDVHRUGHFUHDVHLQDFWXDODUHDRFFXSLHG between survey periods. CCLASSLASS AA CCLASSLASS BB CCLASSLASS CC TOTALTOTAL 2

Ř7KHUHZDVSRVLWLYHDEVRUSWLRQLQWKH&ODVV$PDUNHWGULYHQE\WKHDG- 1.5 GLWLRQRI(0&ōVQHZ&ODVV$RIƓFHLQWKH&%'DQGDQHZ&ODVV$RIƓFH 1 LQWKH:HVWHUQ6XEXUEVVXEPDUNHWV 2015 0.5 2016 Ř&ODVV%RIƓFHH[SHULHQFHGSRVLWLYHDEVRUSWLRQRYHUDOO7KH&%'KDG 2017 WKHODUJHVWDEVRUSWLRQZLWKVTXDUHIHHW3RVLWLYHDEVRUSWLRQZDV 0 -0.5 DOVRH[SHULHQFHGLQ&ODVV%VSDFHLQ$QNHQ\ IN FEET SQUARE UNITS UNITS OF 100,000 Ř7KHUHZDVPLQLPDOQHJDWLYHDEVRUSWLRQIRU&ODVV%6SDFHLQWKH:HVW- -1 HUQ6XEXUEV7KH1RUWKZHVWDQG1RUWKHDVWVXEPDUNHWVKRZQRFKDQJH -1.5 Ř&ODVV&QHJDWLYHDEVRUSWLRQRYHUDOO1HJDWLYHDEVRUSWLRQH[SHUL- HQFHGLQHDFKVXEPDUNHWZLWKWKHH[FHSWLRQRIWKH1RUWKHDVW Ř1HJDWLYHDEVRUSWLRQDFURVVDOOFODVVHVGULYHQE\WKHODUJHQHJDWLYH DEVRUSWLRQLQWKH&ODVV&PDUNHWZKLFKRIIVHWWKHSRVLWLYHDEVRUSWLRQLQ &ODVVHV$ %

SOURCE: CBRE|Hubbell commercial and Frandson & Associates, L.C. | annual REAL ESTATE magazine 25 OFFICE ABSORPTION - ENTIRE MARKET FIG. 6

CLASS A CLASS B CLASS C TOTAL (SF)

Submarket 2015 2016 2017 2015 2016 2017 2015 2016 2017 2015 2016 2017

Western Suburbs 71,396 35,881 12,014 59,332 12,950 (1,233) 2,630 23,673 (26,304) 133,358 72,504 (15,523)

CBD (3,570) 127,937 161,539 59,695 141,597 46,106 (21,000) (94,673) (90,703) 35,125 174,861 116,942

Northwest Des Moines N/A N/A N/A 125 2,885 0 (51,094) (10,244) 5,916 (50,969) (7,359) 5,916

Northeast Des Moines N/A N/A N/A 0000958(20,116) 0 958 (20,116)

South Des Moines N/A N/A N/A 0 (44,348) 80 (25,061) (5,287) (110,369) (25,061) (49,635) (110,289)

Ankeny 0 0 0 (43,872) 27,056 11,194 8,374 1,340 (5,024) (35,498) 28,396 6,170

Greater Des Moines Total 67,826 163,818 173,553 75,280 140,140 56,147 (86,151) (84,233) (246,600) 56,955 219,725 (16,900)

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26 annual REAL ESTATE magazine | SOURCE: CBRE|Hubbell commercial and Frandson & Associates, L.C. OFFICE INVENTORY - COMPETITIVE MARKET FIG. 7

CLASS A CLASS B CLASS C TOTAL (SF) TOTAL BUILDINGS

Submarket 2015 2016 2017 2015 2016 2017 2015 2016 2017 2015 2016 2017 2015 2016 2017

Western Suburbs 3,168,293 3,198,293 3,277,301 2,447,790 2,462,518 2,535,355 1,978,384 1,978,384 1,995,494 7,594,467 7,639,195 7,808,150 252 254 259

CBD 2,243,082 2,243,082 2,243,082 1,526,235 1,526,235 1,526,235 1,239,059 1,187,003 1,187,003 5,008,376 4,956,320 4,956,320 63 62 62

Northwest Des Moines 0 0 0 79,296 79,296 79,296 520,754 511,154 511,154 600,050 590,450 590,450 39 38 38

Northeast Des Moines 000000102,248 94,340 73,540 102,248 94,340 73,540 7 6 5

South Des Moines 0 0 0 75,216 75,216 75,216 93,720 93,720 93,720 168,936 168,936 168,936 15 15 15

Ankeny 0 0 0 209,274 269,270 279,350 135,077 135,077 135,077 344,351 404,347 414,427 30 31 32

Greater Des Moines Total 5,411,375 5,441,375 5,520,383 4,337,811 4,412,535 4,495,452 4,069,242 3,999,678 3,995,988 13,818,428 13,853,588 14,011,823 406 406 411

OFFICE OCCUPANCY - COMPETITIVE MARKET FIG. 8

CLASS A CLASS B CLASS C TOTAL

Submarket 2015 2016 2017 2015 2016 2017 2015 2016 2017 2015 2016 2017

Western Suburbs 87.9% 84.7% 83.1% 84.0% 84.9% 85.2% 86.4% 87.9% 87.7% 86.3% 85.6% 85.0%

CBD 80.1% 85.9% 88.4% 76.9% 78.7% 78.8% 87.2% 88.7% 81.5% 80.7% 84.2% 83.8%

Northwest Des Moines N/A N/A N/A 91.4% 94.9% 94.9% 81.5% 81.1% 82.1% 82.8% 82.9% 83.8%

Northeast Des Moines N/A N/A N/A 100.0% 100.0% 100.0% 81.1% 88.9% 86.6% 81.1% 88.9% 86.6%

South Des Moines N/A N/A N/A 90.3% 90.3% 90.3% 78.5% 73.0% 79.2% 83.8% 80.7% 84.1%

Ankeny N/A N/A N/A 83.4% 74.9% 72.2% 93.4% 94.4% 90.7% 87.3% 81.4% 78.2%

Greater Des Moines Total 84.6% 85.2% 85.3% 81.7% 82.3% 82.5% 85.7% 87.1% 85.1% 84.1% 84.8% 84.3%

OFFICE ABSORPTION - COMPETITIVE MARKET FIG. 9

CLASS A CLASS B CLASS C TOTAL (SF)

Submarket 2015 2016 2017 2015 2016 2017 2015 2016 2017 2015 2016 2017

Western Suburbs (3,168) (75,975) 14,483 51,516 34,534 69,445 (27,697) 29,676 11,049 20,651 (11,765) 94,977

CBD 10,386 130,099 56,077 9,029 98,419 1,526 (19,704) (107,550) (85,464) (289) 120,968 (27,861)

Northwest Des Moines N/A N/A N/A 159 2,775 0 (8,426) (9,869) 5,112 (8,267) (7,094) 5,112

Northeast Des Moines N/AN/AN/A0000945(20,183) 0 945 (20,183)

South Des Moines N/A N/A N/A 0 0 0 (11,528) (5,155) 5,811 (11,528) (5,155) 5,811

Ankeny N/A N/A N/A (4,393) 27,149 7 8,375 1,351 (4,998) 3,982 28,500 (4,991)

Greater Des Moines Total 7,218 54,124 70,560 56,311 162,877 70,978 (58,980) (90,602) (88,673) 4,549 126,399 52,865

SOURCE: CBRE|Hubbell commercial and Frandson & Associates, L.C. | annual REAL ESTATE magazine 27 BROKERAGE SERVICES | PROPERTY MANAGEMENT | MAINTENANCE SERVICES Local Connections. Global Strength.

Kurt Mumm, Christopher Stafford, Tom Knapp, John W. Viggers, Matt Lundberg, Steve Scott, CCIM CCIM CCIM CCIM, CPM CCIM CCIM

Chris Thomason, Keith Olson, Michael Carver, Kevin Sullivan, Mark Hanrahan CCIM CCIM CCIM SIOR

Jake Highfill Collin Nelson Brian Sheriff Marian White Shaun Ward Taylor Ryan Clift

Optimum Commercial Real Estate Services, Worldwide. NAIOPTIMUM.COM | +1 515 309 4002 | FOLLOW US: #CONNECTING YOUR ROOFING & SIDING EXPERTS

Brad VanWeelden has been providing sales and installation of quality exterior products in central Iowa for over 15 years With speciali]ation in high end rooÀ ng and siding they also offer coPPercial as well as residential services for construction and additions windows sNylights solar insulation gutters and leaf guards painting and decNs 4uality service is the top priority at Brad VanWeelden &oPpany 7heir coPPitPent to custoPer satisfaction has built a reputation of reliability and honesty earning respect froP suppliers fellow contractors and hoPeowners

THANK YOU FOR YOUR SUPPORT! WE ARE HONORED TO RECEIVE THIS RECOGNITION!

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(515) 979-4772 | DES MOINES | WWW.BRADVANWEELDEN.COM | [email protected] INDUSTRIAL

:$5(+286(_0$18)$&785,1* INVENTORY There was increased inventory overall for the warehouse segment and Ř,Q$QNHQ\DQHZZDUHKRXVHKDVEHHQFRQVWUXFWHGWKDWFRQWDLQV an inventory decline overall in the manufacturing segment inventory. The VTXDUHIHHW7KLVLVORFDWHGDW1(WK3ODFH,WLVSDUWLDOO\ following lists some of the new warehouse development projects that RZQHURFFXSLHGZLWK.HOOHU 6RQVZLWKDSSUR[LPDWHO\VTXDUH have occurred in the Greater Des Moines area. The largest increase in feet available for lease. warehouse inventory occurred in the Northeast submarket. Ř$QHZZDUHKRXVHKDVEHHQFRQVWUXFWHGLQ3OHDVDQW+LOODQGDGGHGWR Ř:LWKLQWKH$OEDXJKLQGXVWULDOSDUNEHWZHHQ1(WK$YHQXHDQG1( the survey. This warehouse is fully occupied by Dee Zee and consists of WK$YHQXHDQHZZDUHKRXVHKDVEHHQDGGHGWRWKH1RUWKHDVWVXE- VTXDUHIHHW,WLVORFDWHGZHVWRI1(WK6WUHHWRQ6ORDQōV:D\ PDUNHWLQYHQWRU\GXHWRQHZFRQVWUXFWLRQORFDWHGDW1(,QGXVWU\ Ř,Q8UEDQGDOHDQHZVTXDUHIRRWZDUHKRXVHKDVEHHQFRQVWUXFW- 'ULYH7KLVEXLOGLQJWRWDOVVTXDUHIHHW HGDW-XVWLQ'ULYH,WLVIXOO\RFFXSLHGE\3URELRIHUP Ř$OVRLQWKH1RUWKHDVWVXEPDUNHWWKH*UDKDP*URXSKDVFRQVWUXFWHGD Ř,QWKH6RXWKVXEPDUNHWDQHZRIƓFHZDUHKRXVHLVEHLQJFRQVWUXFWHG QHZVTXDUHIRRWKLJKFXEHZDUHKRXVHZKLFKLVORFDWHGDW DWWKHVRXWKZHVWTXDGUDQWRI$UP\3RVW5RDGDQG6:QG6WUHHW7KLV 1(VW6WUHHW7KLVKDVEHHQDGGHGWRWKH1RUWKHDVWVXEPDUNHWLQYHQ- ZLOOEHRFFXSLHGE\(3DQGFRQWDLQVVTXDUHIHHW&RPSOHWLRQ tory and is fully occupied. LVH[SHFWHGLQPLG Ř7ZRDGGLWLRQDOZDUHKRXVHVRZQHGE\'5$3URSHUWLHVKDYHEHHQ constructed and added to the Northeast submarket inventory. These EXLOGLQJVDUHORFDWHGRQ1(,QGXVWU\'ULYHDQGFRQWDLQDFRPELQHG VTXDUHIHHW

WAREHOUSE INVENTORY FIG. 13

PRE-1970 POST -1970 TOTAL (SF) TOTAL BUILDINGS

Submarket 2015 2016 2017 2015 2016 2017 2015 2016 2017 2015 2016 2017

Western Suburbs 1,270,413 1,270,413 1,270,413 8,359,962 8,664,647 8,684,647 9,630,375 9,935,060 9,955,060 198 201 202

CBD 1,175,117 1,145,085 1,145,085 194,565 194,565 183,273 1,369,682 1,339,650 1,328,358 44 43 42

Northwest Des Moines 725,104 725,104 714,050 520,086 520,086 520,086 1,245,190 1,245,190 1,234,136 68 68 67

Northeast Des Moines 4,354,396 4,354,396 4,354,396 8,693,359 9,507,519 9,805,119 13,047,755 13,861,915 14,159,515 254 258 263

South Des Moines 1,596,438 1,596,438 1,596,438 2,152,001 2,252,001 2,252,001 3,748,439 3,848,439 3,848,439 56 57 57

Ankeny 271,610 271,610 271,610 3,047,748 3,397,316 3,426,116 3,319,358 3,668,926 3,697,726 65 68 69

Greater Des Moines Total 9,393,078 9,363,046 9,351,992 22,967,721 24,536,134 24,871,242 32,360,799 33,899,180 34,223,234 685 695 700

OCCUPANCY AND EVENTS 2017 NEW CONSTRUCTION Ř7KHUHZDVDODUJHGHFUHDVHLQRFFXSDQF\RIZDUHKRXVHVSDFHLQWKH Ř5 55HDOW\*URXSKDVEURNHQJURXQGRQWKHH[SDQVLRQRI3UDLULH%XVL- 6RXWKVXEPDUNHWGULYHQE\WKHYDFDWLQJRIWKHIRUPHU55'RQQHOO\EXLOG- QHVV3DUNDWWKHVRXWKHDVWTXDGUDQWRI1:WK6WUHHWDQG1:WK LQJORFDWHGDW3DUN$YHQXH7KLVVTXDUHIHHWZDVWKHPDMRU $YHQXHLQ*ULPHV3UDLULH%XVLQHVV3DUN,,ZLOOEHVLPLODULQVL]HDVWKH factor in the overall declined occupancy in the warehouse segment. ƓUVWEXLOGLQJZKLFKFRQWDLQVVTXDUHIHHW7KLVLVDKLJKFXEH warehouse with pre-leasing currently available and completion and oc- Ř7KHUHZDVOLWWOHFKDQJHLQPDQXIDFWXULQJRFFXSDQF\RYHUDOOIURPWKH FXSDQF\H[SHFWHGLQ)DOO previous survey. The Northwest submarket witnessed a decline in occupancy driven by the vacating of Manko Glass manufacturing at 616 New Ř%DNHU*URXSLVFRQVWUXFWLQJDQHZRIƓFHZDUHKRXVHORFDWHGDW

30 annual REAL ESTATE magazine | SOURCE: CBRE|Hubbell commercial and Frandson & Associates, L.C. MANUFACTURING INVENTORY FIG. 14

PRE-1970 POST -1970 TOTAL (SF) TOTAL BUILDINGS

Submarket 2015 2016 2017 2015 2016 2017 2015 2016 2017 2015 2016 2017

Western Suburbs 1,296,537 1,296,537 1,296,537 1,742,326 1,742,326 1,742,326 3,038,863 3,038,863 3,038,863 58 58 58

CBD 237,023 237,023 211,418 64,900 54,500 54,500 301,923 291,523 265,918 11 10 8

Northwest Des Moines 795,857 795,857 795,857 50,587 50,587 50,587 846,444 846,444 846,444 12 12 12

Northeast Des Moines 4,340,106 4,340,106 4,340,106 1,756,713 1,756,713 1,756,713 6,096,819 6,096,819 6,096,819 70 70 70

South Des Moines 388,600 388,600 388,600 810,742 810,742 783,954 1,199,342 1,199,342 1,172,554 19 19 18

Ankeny 565,921 565,921 565,921 1,342,963 1,394,463 1,394,463 1,908,884 1,960,384 1,960,384 15 15 15

Greater Des Moines Total 7,624,044 7,624,044 7,598,439 5,768,231 5,809,331 5,782,543 13,392,275 13,433,375 13,380,982 185 184 181

WAREHOUSE OCCUPANCY FIG.FIG. 15 15 GREATER DES MOINES WAREHOUSE VACANCY FIG. 16

PRE-1970 PRE-1970 POST POST -1970 -1970 TOTAL TOTAL SubmarketSubmarket 2015 2014 2015 2016 2016 2017 2014 2015 2015 2016 2016 2017 2014 2015 2015 2016 2016 2017 Western Suburbs 97.3% 82.5% 97.3% 97.3% 97.3% 96.5% 91.6% 91.6% 93.6% 93.6% 94.2% 94.6% 92.4% 92.4% 94.1% 94.1% 94.6% 3UH 3RVW

CBD 67.3% 68.3% 67.3%69.0% 69.0% 69.0% 78.1% 82.6% 82.6% 82.6% 82.6% 81.5% 69.5% 69.4% 69.4% 71.0% 71.0% 70.8% 3HUFHQW 7RWDO Northwest Des MoinesMoines94.5% 90.5% 94.5%93.0% 93.0% 91.1%100.0% 91.3%91.3% 88.4% 88.4% 88.5% 94.5% 93.1% 93.1% 91.0% 91.0% 90.0% Northeast Des Moines 94.3% 96.9% 94.3%96.2% 96.2% 96.3% 98.5% 96.3% 96.3% 96.9% 96.9% 95.5% 97.9% 95.7% 95.7% 96.7% 96.7% 95.7% South Des Moines 83.0% 84.5% 83.0%90.9% 90.9% 92.5% 99.5% 97.7% 97.7% 94.3% 94.3% 72.1% 93.1% 91.4% 91.4% 92.9% 92.9% 80.6%

Ankeny 100.0% 100.0% 100.0% 100.0% 100.0% 97.5% 98.3% 98.3% 92.0% 92.0% 91.7% 97.7% 98.5% 98.5% 92.6% 92.6% 92.3%

Greater Des Des Moines Moines Total Total 89.6%88.4% 89.6%92.0% 92.0% 92.2% 97.6% 94.8% 94.8% 94.5% 94.5% 92.1% 94.8% 93.3% 93.3% 93.8% 93.8% 92.2%

MANUFACTURING OCCUPANCY FIG. 17 GREATER DSM MANUFACTURING VACANCY FIG. 18

PRE-1970 POST -1970 TOTAL

Submarket 2015 2016 2017 2015 2016 2017 2015 2016 2017

Western Suburbs 100.0% 100.0% 100.0% 96.3% 99.1% 99.1% 97.9% 99.5% 99.5% 3UH

3RVW CBD 73.0% 73.0% 81.8% 84.0% 100.0% 100.0% 75.4% 78.0% 85.6% 3HUFHQW 7RWDO Northwest Des Moines 93.7% 93.7% 87.6% 43.6% 100.0% 100.0% 90.7% 94.0% 88.3% Northeast Des Moines 97.7% 94.7% 94.7% 99.2% 99.0% 99.6% 98.2% 95.9% 96.1% South Des Moines 96.4% 96.4% 96.4% 98.3% 93.4% 96.6% 97.7% 94.4% 96.5%

Ankeny 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0%

Greater Des Moines Total 97.0% 95.3% 95.0% 97.7% 98.5% 99.1% 97.3% 96.7% 96.8%

SOURCE: CBRE|Hubbell commercial and Frandson & Associates, L.C. | annual REAL ESTATE magazine 31 ABSORPTION Ř$EVRUSWLRQLVWKHQHWLQFUHDVHRUGHFUHDVHLQDFWXDODUHDRFFXSLHG Ř7KHYDFDWLQJRIDEXLOGLQJLQWKH1RUWKZHVWVXEPDUNHWDW1HZ EHWZHHQVXUYH\SHULRGV

WAREHOUSE ABSORPTION FIG. 19

PRE-1970 POST -1970 TOTAL

Submarket 2015 2016 2017 2015 2016 2017 2015 2016 2017

Western Suburbs 180,973 0 0 (102,768) 452,384 70,828 78,205 452,384 70,828

CBD (140,360) (745) 0 8,755 0 (11,343) (131,605) (745) (11,343)

Northwest Des Moines 29,004 (10,877) (23,847) (45,247) (15,082) 520 (16,243) (25,959) (23,327)

Northeast Des Moines (113,214) (82,734) 4,354 225,224 841,081 151,103 112,010 758,347 155,457

South Des Moines (23,947) 126,119 25,543 (38,736) 21,132 (499,944) (62,683) 147,251 (474,401)

Ankeny 0 0 0 61,893 129,594 16,218 61,893 129,594 16,218

Greater Des Moines Total (67,544) 31,763 6,050 109,121 1,429,109 (272,618) 41,577 1,460,872 (266,568)

MANUFACTURING ABSORPTION FIG. 20

PRE-1970 POST -1970 TOTAL

Submarket 2015 2016 2017 2015 2016 2017 2015 2016 2017

Western Suburbs (7,807) 0 0 (21,249) 48,785 0 (29,056) 48,785 0

CBD 0 0 (87) (10,384) (16) 0 (10,384) (16) (87)

Northwest Des Moines 0 0 (48,547) 0 28,531 0 0 28,531 (48,547)

Northeast Des Moines (8,680) (130,203) 0 (14,054) (3,513) 10,540 (22,734) (133,716) 10,540

South Des Moines (13,990) 0 0 0 (39,726) 67 (13,990) (39,726) 67

Ankeny 000051,500 0 0 51,500 0

Greater Des Moines Total (30,477) (130,203) (48,634) (45,687) 85,561 10,607 (76,164) (44,642) (38,027)

32 annual REAL ESTATE magazine | SOURCE: CBRE|Hubbell commercial and Frandson & Associates, L.C. RETAIL

This survey focuses on three major categories of retail development The store opened in 2009, and was a catalyst for a major renovation including regional malls, neighborhood and community centers, and at the mall. big box retail. This is not intended to be inclusive of the entire retail Ř0HUOH+D\0DOOKDVDQQRXQFHGLWKDVVLJQHGDOHDVHZLWK5RVV'UHVV market, as there are numerous smaller free standing retail properties IRU/HVV5RVV'UHVVIRU/HVVLVWKHODUJHVWRIISULFHDSSDUHODQGKRPH which are not included in our survey. IDVKLRQFKDLQLQWKH865RVVLVSODQQLQJWRRSHQD6)VWRUH REGIONAL MALLS replacing Staples. Ř7KHUHZDVDQLQFUHDVHLQRQOLQHVKRSSLQJLQXSWZRSHUFHQW Ř2FFXSDQF\RYHUDOOIRUWKHWKUHHPDOOVLQFUHDVHGVOLJKWO\IURPWKHSUHYL- from the previous year. That is causing mall operators to rethink their ous survey. Slight increases were experienced at Merle Hay Mall and Jor- offerings. dan Creek Town Center, and Valley West Mall occupancy did not change. Ř-RUGDQ&UHHN7RZQ&HQWHUFRQWLQXHVWROHDGWKHPDUNHWZLWK Ř6WDSOHVRIƓFHVXSSO\VWRUHLQ0HUOH+D\0DOOFORVHG)HEUXDU\WK RFFXSDQF\LQ

RETAIL SHOPPING MALL STATUS FIG. 21

INVENTORY (SF) TOTAL STORES OCCUPANCY

Center 2015 2016 2017 2015 2016 2017 2015 2016 2017

Merle Hay Mall 941,866 941,866 941,866 94 96 95 93.6% 94.1% 95.5%

Valley West Mall 910,000 910,000 910,000 111 114 110 91.0% 92.0% 92.0%

Jordan Creek Town Center 979,000 979,000 979,000 123 120 119 98.6% 97.7% 99.0%

Greater Des Moines Total 2,830,866 2,830,866 2,830,866 328 330 324 94.5% 94.7% 95.6%

NEIGHBORHOOD AND COMMUNITY CENTERS LQFOXGHVVKRSSLQJGLQLQJDQGHQWHUWDLQPHQW2XWOHWVRI'HV0RLQHV ZLOOEULQJVTXDUHIHHWRIEUDQGQDPHRXWOHWVWRUHV&RPSOH- The neighborhood and community center analysis focuses on multi- WLRQRIWKLVSLHFHLVH[SHFWHGLQ)DOO WHQDQWFHQWHUVZLWKVPDOOWRPHGLXPVL]HRFFXSDQWV5HWDLOFHQWHU Ř7KH6KRSSHVDW3UDLULH&URVVLQJDGMRLQV2XWOHWVRI'HV0RLQHVDQG ED\VVPDOOHUWKDQ6)DUHLQFOXGHGLQWKLVVHJPHQW5HWDLOED\V offers opportunities for big boxes, junior boxes, lifestyle retail, and JHQHUDOO\ODUJHUWKDQ6)DUHDQDO\]HGVHSDUDWHO\LQWKHELJER[ RXWORWRSSRUWXQLWLHVSOXVUHVLGHQWLDORIƓFHDQGPHGLFDOZHOOQHVV retail segment. FRPSRQHQWV7KLVPL[HGXVHSURMHFWFRQWDLQVVTXDUHIHHW INVENTORY Ř,Q$QNHQ\QHZFRQVWUXFWLRQLVQHDULQJFRPSOHWLRQRQDQDGGLWLRQWR There was increased inventory overall, driven by the increase in the the mixed-use project in the Prairie Trail development, located east of Western Suburbs submarket. There are many proposed retail centers 6WDWH6WUHHWDQGQRUWKRI0DJD]LQH5RDG7KHQHZDGGLWLRQFRQWDLQV DFURVVWKH'HV0RLQHVPHWURWKDWDUHSODQQHG7KHIROORZLQJDUHWKHQHZ VTXDUHIHHW construction events that have occurred or are currently in progress: Ř7ZRDGGLWLRQDOQHZUHWDLOVWULSFHQWHUVDUHXQGHUFRQVWUXFWLRQLQ Ř7ZRQHZUHWDLOEXLOGLQJVZHUHDGGHGWKDWDUHORFDWHGDW+LFN- VHSDUDWHDUHDVRI$QNHQ\$XWXPQ&UHVW3OD]DLVORFDWHGDW1: PDQ5RDGQHDUWKH/LIHWLPH)LWQHVVIDFLOLW\7KHWZREXLOGLQJVWRWDO WK6WUHHWDQGFRQWDLQVVTXDUHIHHW7KLVEXLOGLQJKDVGULYHXS VTXDUHIHHWDQGDUHDSSUR[LPDWHO\OHDVHG and patio space available on both end caps. The other retail center LVORFDWHGDW1$QNHQ\%RXOHYDUGDQGFRQWDLQVVTXDUH Ř,Q:DXNHHDQHZPXOWLWHQDQWUHWDLOEXLOGLQJKDVEHHQFRQVWUXFWHG IHHWZLWKVTXDUHIHHWDYDLODEOH DQGDGGHGZKLFKFRQWDLQVVTXDUHIHHW7KLVEXLOGLQJLVNQRZQ DV&HQWUDO3OD]DDQGLVORFDWHGDW6($OLFHōV5RDGQHDUWKHQHZO\ Ř$QHZPL[HGXVHSURMHFWLQWKH(DVW9LOODJHLVQHDULQJFRPSOHWLRQ completed Grand Prairie Parkway intersection. Pre-leasing continues, 7KLVLVORFDWHGDW(DVW*UDQGDQGZLOOEHDVL[VWRU\FRPPHUFLDO ZLWKDSSUR[LPDWHO\RIWKHEXLOGLQJOHDVHG UHVLGHQWLDOEXLOGLQJWKDWFRQWDLQVRYHUWRWDOVTXDUHIHHWZLWK VTXDUHIHHWRQWKHJURXQGOHYHO Ř,Q*ULPHVDQHZED\UHWDLOEXLOGLQJKDVEHHQFRQVWUXFWHGZKLFK FRQWDLQVVTXDUHIHHW7KLVLVORFDWHGDGMDFHQWZHVWRI+LJKZD\ Ř$SDUNLQJVWUXFWXUHZLWKDVPDOOUHWDLOFRPSRQHQWLVXQGHUFRQVWUXF- QHDUWKH*DWHZD\%XVLQHVV3DUNDQGLVRFFXSLHG WLRQLQWKH&%'DW*UDQG$YHQXH7KLVLVWKH6KRSSHVDQGZLOO LQFOXGHVTXDUHIHHWRIUHWDLOVSDFHRQWKHJURXQGŴRRU7KHEXLOG- Ř,Q:HVW'HV0RLQHVDQDGGLWLRQDOED\UHWDLOEXLOGLQJKDVEHHQ LQJZLOOEHFRQQHFWHGYLDVN\ZDONWR*UDQGDQGWKH5XDQ&HQWHU DGGHGZKLFKFRQWDLQVVTXDUHIHHW7KLVLVORFDWHGQHDU.RKOōV HDVWRI-RUGDQ&UHHN7RZQ&HQWHUDQGLWLVOHDVHG Ř$QHZUHWDLOEXLOGLQJLVXQGHUFRQVWUXFWLRQLQWKH6RXWKVXEPDUNHW 7KLVEXLOGLQJZLOOFRQWDLQVTXDUHIHHWDQGLVORFDWHGDW6: Ř,Q$OWRRQD7KH6KRSSHVDW3UDLULH&URVVLQJUHWDLOGHYHORSPHQWLV 9th Street across from Lincoln High School. FXUUHQWO\XQGHUFRQVWUXFWLRQ7KLVLVDDFUHGHYHORSPHQWZKLFK

SOURCE: CBRE|Hubbell commercial and Frandson & Associates, L.C. | annual REAL ESTATE magazine 33 Knowledge. Experience. Expertise.

Kevin Crowley, SIOR Jason Lozano Brad Hickok, CPM Jordan Bouslog Sloan Cownie Nathan Drew Tyler Granzow

Mick Grossman Tom Hudson John R. Knapp Kermit Marsh Judy Patterson Chris Pendroy

Zach DeCarlo Josh Garrett Russell Schoenauer Mark E. Timmins Blake Pagliai Tim Day

Consult with an Iowa Realty Commercial broker regarding your real estate options. 3501 Westown Parkway, West Des Moines | 515-222-0000 | 515-453-5430 FAX | 800-733-1965 www.IowaRealtyCommercial.com NEIGHBORHOOD AND COMMUNITY CENTER INVENTORY FIG. 22NEIGHBORHOOD & COMMUNITY CENTER OCCUPANCY FIG. 23

TOTAL (SF) TOTAL BUILDINGS

Submarket 2015 2016 2017 2015 2016 2017 Submarket 2015 2016 2017

Western Suburbs 3,655,671 3,713,156 3,750,499 184 187 192 Western Suburbs 83.0% 83.4% 83.5%

CBD 116,867 138,432 138,432 3 5 5 CBD 37.1% 42.0% 57.5%

Northwest Des Moines 774,148 780,238 780,238 52 53 53 Northwest Des Moines 79.2% 81.8% 82.0%

Northeast Des Moines 818,613 818,613 818,613 43 43 43 Northeast Des Moines 85.8% 87.6% 87.2%

South Des Moines 591,706 582,211 582,211 31 31 31 South Des Moines 70.6% 78.1% 83.7%

Ankeny 731,332 777,469 777,469 46 48 48 Ankeny 80.9% 84.2% 91.5%

Greater Des Moines Total 6,688,337 6,810,119 6,847,462 359 367 372 Greater Des Moines Total 80.8% 82.6% 84.2%

OCCUPANCY AND EVENTS Ř$QHZUHWDLOFHQWHULVSODQQHGIRU 6KDGRZ&UHHN.HWWOHVWRQH3OD]D7KH&RYH Douglas in the Northwest submarket. The DW.HWWOHVWRQH:HVW%XLOGLQJ&RUH3OD]DDQG There was an increase in occupancy overall, EXLOGLQJZLOOFRQWDLQVTXDUHIHHWDQGLV GHYHORSPHQWRIDUHWDLOEXLOGLQJDW0LOOV&LYLF with the exception of the Northeast submarket. located adjacent east of the Burger King/Mat- 3DUNZD\DQG6RXWKWK6WUHHW The retail segments preforming well as of the WUHVV)LUP6XQ7DQ&LW\UHWDLOFHQWHU WLPHRIWKHVXUYH\LQFOXGHKHDOWK ƓWQHVV ABSORPTION Ř$PL[HGXVHEXLOGLQJDW,QJHUVROO restaurants, hotels, brewery concepts, conve- Avenue is proposed. This is a 120,000 square Absorption is the net increase or decrease in nience stores, and experience focused retailers. IRRWPL[HGXVHEXLOGLQJZLWKVTXDUH actual area occupied between survey periods. The following are the retail projects that IHHWRIVWŴRRUUHWDLOVSDFH&RPSOHWLRQLV are planned or proposed in the Des Moines Ř7KHUHZDVSRVLWLYHDEVRUSWLRQH[SHUL- set for Spring 2018. metropolitan area: enced overall. Ř7KH:LONLQV%XLOGLQJLVDPL[HGXVHEXLOG- Ř1HZUHWDLOGHYHORSPHQWLQWKHKHDUWRI Ř3RVLWLYHDEVRUSWLRQH[SHULHQFHGLQHDFK ing that was formerly the Younker’s building the Altoona retail corridor is planned. The of the submarkets, with the exception of the LQWKH&%'7KHEXLOGLQJLVEHLQJUHQRYDWHG development is located at the northwest Northeast submarket. DQGZLOOLQFOXGHPDUNHWUDWHUHQWDOXQLWV corner of 8th Street SW and Prairie Meadows and 20,000 square feet of commercial space Ř7KHODUJHVWDPRXQWRISRVLWLYHDEVRUSWLRQ Drive. The development includes two build- RQWKHƓUVWŴRRU was experienced in the Ankeny submarket ings. One is a 9,800 square foot multi-tenant ZKLFKZLWQHVVHGVTXDUHIHHWRISRVL- retail strip and the other building is a 5,000 Ř$QHZUHWDLOFHQWHULQ*ULPHVLVSURSRVHG tive absorption. square foot single-tenant building. Delivery is ZKLFKZLOOFRQWDLQVTXDUHIHHW7KLVLV expected late 2017. located in front of Wal-Mart at the southeast Ř7KH6RXWKVXEPDUNHWDQG:HVWHUQ6XEXUEV TXDGUDQWRI+LJKZD\DQG(DVWVW6WUHHW submarket experienced similar positive Ř&DPSXV7RZQ5HWDLOLVORFDWHG6(RI6: DEVRUSWLRQRIPRUHWKDQVTXDUHIHHW 2UDODERU5RDGDQG)UDQNOLQ'ULYHLQ$QNHQ\ Ř,Q-RKQVWRQ3OD]DRQWKLVDSURSRVHG of positive absorption each. This is a two-phased proposed retail de- retail strip center building that will be lo- velopment that will include two buildings. FDWHGZHVWRIWK6WUHHWVRXWKRI1:WK (DFKEXLOGLQJLVSURSRVHGWRFRQWDLQ Avenue. The proposed center will contain NEIGHBORHOOD & COMMUNITY square feet. VTXDUHIHHW CENTER ABSORPTION FIG. 24 Ř'HHUƓHOG9LOODJHLVDSODQQHGQHLJKERU- Ř$QRWKHUUHWDLOFHQWHULVSURSRVHGLQ-RKQ- hood center that is located at the northwest ston, located at the southwest quadrant of TOTAL TXDGUDQWRI+LFNPDQ5RDGDQGWK6WUHHW 1:WK6WUHHWDQG1:QG$YHQXH7KLV Submarket 2015 2016 2017 LQ&OLYH7KLVLVEXLOGWRVXLWZLWKUHVWDXUDQW proposed multi-tenant building will contain medical, bank, or any general retail use al- VTXDUHIHHW$GDP5LGJHD Western Suburbs 54,631 62,565 34,894 ORZHG7KHSODQQHGVL]HLVVTXDUHIHHW square foot retail building, is another pro- SRVHGFHQWHULQWKHVDPHDUHDRI-RKQVWRQ CBD (14,725) 14,784 21,457 Ř,QWKH1RUWKHDVWVXEPDUNHWDVTXDUH foot retail center building is planned for the Ř,QWHUVWDWH$FUHV%XLOGLQJLVDSURSRVHG Northwest Des Moines (44,115) 25,109 1,560 FRUQHURI(DVW8QLYHUVLW\DQG(DVWWK&RXUW development located at 10922 Meredith 'ULYHLQ8UEDQGDOH7KLVGHYHORSPHQW Ř,QWKH1RUWKZHVWVXEPDUNHWDVTXDUH Northeast Des Moines 5,136 14,735 (3,274) includes two phases. Phase One building will foot retail center located at 1228 2nd Avenue LQFOXGHVTXDUHIHHWDQG3KDVH7ZR is planned. The building will include an avail- South Des Moines (42,491) 36,962 32,604 building will contain 9,100 square feet. DEOHGULYHWKUXDQGSDUNLQJVSDFHV Ankeny 19,971 62,981 56,755 Ř2WKHUSURSRVHGUHWDLOGHYHORSPHQWLQ- cludes Waukee Marketplace, The Landing at Greater Des Moines Total (21,593) 217,136 143,996

SOURCE: CBRE|Hubbell commercial and Frandson & Associates, L.C. | annual REAL ESTATE magazine 35 BIG BOX RETAIL Big Box stores generally include grocery stores, home improve- BIG BOX INVENTORY FIG. 25 ment stores, large retail stores, and discount stores that contain approximately 20,000 SF. TOTAL (SF) TOTAL BUILDINGS

Submarket 2015 2016 2017 2015 2016 2017 INVENTORY Increased inventory overall, driven by the increase in inventory in Western Suburbs 5,169,541 5,258,073 5,383,647 67 69 72 the Western Suburbs submarket. There was no change in retail inventory in any of the other submarkets. CBD 0 0 0 0 0 0 Ř Three new big box stores were added to the Western Suburbs submarket. Northwest Des Moines 390,246 390,246 390,246 9 9 9 Ř A new Bomgaar’s has been constructed and is open in Grimes. Northeast Des Moines 1,576,772 1,576,772 1,576,772 21 21 21 This building contains 56,664 square feet.

Ř A new big box store has been opened in Urbandale following new South Des Moines 1,302,093 1,302,093 1,302,093 20 20 20 construction. This building contains 38,904 square feet. Ř In Johnston, a new Fareway grocery store has been added which Ankeny 1,791,343 1,791,343 1,791,343 22 22 22 contains 30,006 square feet. Greater Des Moines Total 10,229,995 10,318,527 10,444,101 139 141 144 OCCUPANCY AND EVENTS Ř Hy-Vee is scheduled to open their new downtown grocery store this year which is located at 4th Street and Court Avenue. This is a part of a 4-story mixed-use project, with commercial space on the BIG BOX OCCUPANCY FIG. 26 JURXQGOHYHODQGXSSHUŴRRUDSDUWPHQWV$QDGMDFHQWSDUNLQJ deck structure is included for additional parking for customers or residents of the project. Submarket 2015 2016 2017 Ř Changes in occupancy include the closing of the Sports Author- ity store on University Avenue in West Des Moines. This building Western Suburbs 92.4% 94.1% 96.3% contains over 50,000 square feet and is currently vacant. Ř Hancock Fabrics vacated 12,000 square feet of space at their loca- CBD N/A N/A N/A tion on 22nd Street in West Des Moines, next to Chuckie Cheese. Northwest Des Moines 93.1% 100.0% 100.0% Ř Best Buy vacated their 35,280 square foot store on SE 14th Street

this past year and the space is currently vacant. Northeast Des Moines 97.7% 93.7% 94.6% Ř Fresh Market on Mills Civic Parkway opened their doors approximately one year ago, but the store has subsequently closed. South Des Moines 99.2% 99.2% 96.5% They occupied approximately 25,000 square feet, which has been SDUWLDOO\EDFNƓOOHGE\7KH&RQWDLQHU6WRUH Ankeny 95.7% 97.2% 97.3%

ABSORPTION Greater Des Moines Total 94.7% 95.4% 96.4% Absorption is the net increase or decrease in actual area occupied between survey periods. Ř Positive absorption experienced overall. Ř Positive absorption experienced in each of the submarkets, with BIG BOX RETAIL ABSORPTION FIG. 27 the exception of the South submarket. Ř The negative absorption in the South submarket was driven mainly TOTAL (SF)

by the closing and vacating of the Best Buy store on SE 14th Street. Submarket 2015 2016 2017 Ř The largest positive absorption was experienced in the Western Suburbs submarket which witnessed the absorption of 236,605 Western Suburbs (151,668) 171,191 236,605 square feet. CBD 0 0 0 Ř The positive absorption in the western suburban submarket was driven by the addition of three new big box stores that are fully oc- Northwest Des Moines (68,482) 26,927 0 cupied.

Ř A new Bomgaar’s store has opened in Grimes which contains Northeast Des Moines 235 (63,071) 14,191 56,644 square feet. Ř The former Dahl’s located at 5003 E.P. True Parkway has been ac- South Des Moines (2,604) 0 (35,157) quired for owner occupied use which consists of 55,386 square foot. Ankeny 71,742 26,870 1,791 Ř Hy-vee acquired and occupied the 88,000 square foot former K’s

Merchandise store located at 3303 86th Street in Urbandale. Greater Des Moines Total (150,777) 161,917 217,430 Ř A new Fareway grocery store has opened in Johnston and contains 30,006 square feet. Ř A new Fireplace Superstore has opened in Urbandale which consists of 38,904 square feet.

36 annual REAL ESTATE magazine | SOURCE: CBRE|Hubbell commercial and Frandson & Associates, L.C. RETAIL

INVENTORY Ř$OORIWKHŴH[VSDFHLVFRQVLGHUHGWREHŏFRPSHWLWLYHŐVSDFH 7KHRFFXSDQF\WUHQGRIŴH[VSDFHLVPRUHRIƓFHRULHQWHGLQQD- WXUHHVSHFLDOO\LQWKH&%',QRWKHUVXEPDUNHWVŴH[VSDFHKDVD ZLGHUYDULHW\RIRFFXSLHUV Ř2YHURIWKHŴH[PDUNHWLVORFDWHGLQWKH:HVWHUQ6XEXUEV VXEPDUNHWZKLFKKDVDQLQYHQWRU\RI6),QYHQWRU\ OHYHOVDUHVWDWLFDVQRQHZŴH[VSDFHKDVEHHQDGGHGVLQFHWKH SUHYLRXVVXUYH\ FLEX INVENTORY FIG. 10 OCCUPANCY AND EVENTS TOTAL (SF) TOTAL BUILDINGS Ř,QFUHDVHGRFFXSDQF\DFURVVDOOVXEPDUNHWV7KH1RUWKHDVW VXEPDUNHWKDGWKHELJJHVWGHFUHDVHLQRFFXSDQF\IURP Submarket 2015 2016 2017 2015 2016 2017 LQWRLQ Ř$YHUDJHTXRWHGQHWOHDVHUDWHVIRUŴH[SURSHUWLHVDYHUDJH Western Suburbs 3,313,328 3,313,328 3,313,328 93 93 93 6)IRUƓQLVKHGRIƓFHVSDFHDQG6)IRUZDUHKRXVH ,QVRPHFDVHVDFWXDOEDVHUHQWVKDYHEHHQLQFUHDVHGZLWK CBD 589,697 589,697 589,697 9 9 9 FRQFHVVLRQVVXFKDVUHQWDEDWHPHQWDQGWHQDQWLPSURYHPHQW DOORZDQFHVGLPLQLVKLQJ Northwest Des Moines 99,161 99,161 99,161 6 6 6 ABSORPTION Northeast Des Moines 586,110 586,110 586,110 21 21 21 $EVRUSWLRQLVWKHQHWLQFUHDVHRUGHFUHDVHLQDFWXDODUHDRFFX- South Des Moines 237,370 237,370 237,370 5 5 5 SLHGEHWZHHQVXUYH\SHULRGV Ř3RVLWLYHDEVRUSWLRQH[SHULHQFHGDFURVVDOOVXEPDUNHWV Ankeny 421,710 421,710 421,710 16 16 16 Ř7KH:HVWHUQ6XEXUEV&%'DQG$QNHQ\VXEPDUNHWVKDGSRVL-

WLYHDEVRUSWLRQZKLOHWKH1RUWKHDVWVXEPDUNHWH[SHULHQFHG Greater Des Moines Total 5,247,376 5,247,376 5,247,376 150 150 150 QHJDWLYHDEVRUSWLRQ

FLEX OCCUPANCY FIG. 11FLEX ABSORPTION FIG. 12

TOTAL (SF)

Submarket 2015 2016 2017 Submarket 2015 2016 2017

Western Suburbs 89.5% 92.3% 92.8% Western Suburbs (53,013) 92,773 16,567

CBD 90.4% 91.6% 94.9% CBD (46,702) 7,076 19,460

Northwest Des Moines 93.2% 93.2% 93.2% Northwest Des Moines 2,975 0 0

Northeast Des Moines 94.0% 94.4% 91.7% Northeast Des Moines 18,169 2,344 (15,825)

South Des Moines 100.0% 100.0% 100.0% South Des Moines 5,460 0 0

Ankeny 91.9% 92.2% 91.2% Ankeny (8,434) 1,265 4,217

Greater Des Moines Total 90.7% 92.8% 93.2% Greater Des Moines Total (81,545) 103,458 15,985

SOURCE: CBRE|Hubbell commercial and Frandson & Associates, L.C. | annual REAL ESTATE magazine 37 5(0$;$PHULFDQ'UHDP5HDOW\1RUZDON,$5(0$;+LOOWRS'HV0RLQHV,$5(0$;,QQRYDWLRQV,QGLDQROD,$ 5(0$;3UHFLVLRQ'HV0RLQHV,$5(0$;5HDO(VWDWH&HQWHU$PHV,$5(0$;5HDO(VWDWH&RQFHSWV'HV0RLQHV,$ 5(0$;5HDO(VWDWH*URXS'HV0RLQHV,$5(0$;6XEXUEDQ'HV0RLQHV,$

38 annual REAL ESTATE magazine | SOURCE: CBRE|Hubbell commercial and Frandson & Associates, L.C. INNOVATIVE IDEAS. SUPERIOR VALUE. CUSTOMER FOCUSED.

515.221.9990 | SignatureRES.com What do you see as the dominant Jackie Johansen: If I had to say THEEXPERTS theme for the office market in it in one word, I would say “growth” would be the dominant 2017 and into 2018? theme for 2017 and 2018. So we BEN BRUNS Bill Wright: Cautious optimism. I’m continue to see strong leasing business development optimistic on what’s going to be activity; we’ve had another year director, Weitz Co. happening in our office market. We of positive absorption, and one of have some speculative development the things that’s interesting about bets occurring, and frankly there that is if you look at the largest DANIELLE HERMANN hasn’t been a lot of speculative transactions from 2016, there are associate principal & architect, development in Des Moines. current companies that are here OPN Architects Inc. Historically we’ve upgraded with a in Des Moines that are expanding lot of market intelligence as far as their space, improving their space, constructing new office buildings. sometimes to attract new employees JACKIE JOHANSEN We haven’t overbuilt, we’ve into amenity-rich spaces, so a lot of director of acquisitions and been smart, we’ve kept vacancy in those largest transactions are with brokerage, R&R Equity Partners mind, we’ve had local companies companies that are already invested growing. Jackie Johansen’s company in Des Moines. BILL WRIGHT is developing the new building out Second, we’re seeing lots of owner-occupied new buildings, broker, CBRE|Hubbell in Country Club Office Plaza called Westfield Complex. You have a new some being announced, some that Commercial building that Sherman Associates is have just been completed, so that building downtown. At this point in opens up second-generation space, MODERATORS time, there’s probably more large- which is also really healthy for the scale tenants looking especially market and gives a price dichotomy CHRIS CONETZKEY down in the central business district for companies that want to come Business Record publisher than we’ve had in a long time. here; they have options. KENT DARR The reason I’m cautiously Third, our investment sales are senior staff writer optimistic is because we’ve had a strong and rising. We are having change in the political climate, and more transactions and we’re also sometimes that has an impact on having the price per square foot the economy, and when there’s an for those transactions go up. And impact on the economy, sometimes in 2016, the office investment sales companies decide, “Maybe I’m were 55 percent of out-of-state not going to grow this year.” It’s owners. So we’re seeing out-of-state great that we only have 3 percent money, we’re seeing a little bit of unemployment, but another foreign capital, but that will help us challenge locally is the search for to attract even more of that type of talent for new employees, because investment into Des Moines, which companies can only fill office space is good. if they’re able to fill those desks, And last, I’ll just mention that and with 3 percent unemployment, national trends are also pushing there’s not exactly an abundance of the leasing and investment sales to people just running around looking our market, because these gateway for jobs. markets, they’re having rent growth,

40 annual REAL ESTATE magazine OFFICE ROUNDTABLE Q&A CHANGE COMING AT A FAST AND

FURIOUSBY KENT DARR PACE

annual REAL ESTATE magazine 41 OFFICE: KEY POINTS

FURNITURE A BIG PART WINDOW SHOPPING RENT ESCALATION OF THE EQUATION Clients are asking more and more Property values are getting a boost Furniture companies are playing to see the space they intend to from annual escalators in lease a big role in office design, even RFFXS\DVZHOODVRIŵFHVWKDWRWKHUV agreements. Those escalators, of moving beyond desks and chairs to have improved, just to get some between 1 and 2 percent, were designing walls and partitions. In idea of the changes that can be rarely a part of agreements that many cases, their services can trump made in an effort to appeal to were signed 10 years ago, but those of the construction companies different generations of an existing they have been common in larger that make tenant improvements workforce as well as to provide markets. With rents increasing on an and the architects who design the an enhancement to prospective annual basis, the value of a property spaces and play a major part in employees. increases and, as a result, draws the bringing the “cool” factor to the attention of outside investors. contemporary office.

they’re having slowing absorption, advance within office environments may be on a 20-year life cycle. So so a lot of those companies are being is really going to dictate what how can you build to try and help pushed to secondary and tertiary people look for so far as space. How future-proof those spaces against markets because they’re looking for much space they actually need is having to change? There are some a better price point. They’re looking going to change the amount of space good strategies out there to do that, for a lower-cost lease, or a lower-cost that they occupy, and then it’s also but it just boils down to a lot of sales option. Those are all good things going to have a huge impact on flexibility. that lead to growth in Des Moines. technology and how we … use the I think that trend goes back technology on a day-to-day basis. Bruns: Danielle Hermann: One of the to your question about what can things I wanted to touch on, and Ben Bruns: One thing that we’ve bring a warehouse space into an it really is a springboard for what observed is that it doesn’t matter office space. We’ve taken a lot Jackie was saying, our downtown how much you spend on your new of the sub-costs associated with corporate markets in the core are space, you want to make sure that fixing construction and curbed it really looking heavily at mobility it’s going to fit the culture of your down some, right? You’re into a strategies, so it’s something that a organization. Companies are having very flexible space that could be year or two ago might have been success from a lot of different price reconfigured over time. If you can kind of new to the market, or new points achieving that, which is fun make that space cool, and it fits the for companies to be thinking about. to be part of. … I think that’s one of culture, go for it, right? Because But now we’re seeing those more the cool things about the time we’re it will have that flexibility in the savvy corporate environments in right now, you know? All these future, in comparison to something come to us asking, “How do we different solutions. The fact that that has a certain floor-to-floor become more flexible, how do we there are three generations in the height, or a raised-floor office, let our associates or employees be workforce is forcing everybody to which was a huge trend for a period more mobile, and what does an think more about how we make this of time. environment like that look like?” as flexible as it possibly can be? It’s interesting that within each Do you guys see companies company, those usually look a little Hermann: You hear the term “future that are maybe starting that bit different. Some companies will proofing.” The term is used a lot process that come in with some take that mobility strategy a little to talk about how we can build a misconceptions, or things that you space today that can take us into bit further than others. For some guys have to regularly set straight it’s more about hoteling and having the future and not have to be either at the beginning of that process? flexible space for their employees to redesigning it, rebuilding it, every work in, where for others it’s more five years, because the technology Hermann: There are a few. Usually of a permanent environment in the trends and changes are happening it’s more just questions in general way they can work on a day-to- year to year to year, but your work than it is an educational process. day basis. How that continues to environments within a building They know they need to change,

42 annual REAL ESTATE magazine LITTLE POINT IN AN OFFICE GREATER DES MOINES MAKEOVER IF YOU CAN’T FILL SELLS ITSELF IT WITH PEOPLE If brokers are just talking up The driving force behind nearly every Greater Des Moines to a potential decision to remodel existing space, new office user, chances are their move to new space or even to expand words fall on deaf ears. Get those operations in Greater Des Moines clients to visit the metro, and, comes down to the availability faster than you can snap a pecnil, of workers. At least one company they are sold on the area. Greater decided to expand in Colorado rather Des Moines is a sight to behold, than in Greater Des Moines for the provided the viewing is in person. VLPSOHUHDVRQWKDWLWFRXOGQőWŵQG enough workers locally. BEN BRUNS

they want to change, they may that environment that’s going to be even be educated and have seen a attractive.” It’s not just companies lot of other companies who know that have 85,000 employees, like what they’re doing, but how do a Hy-Vee does. I mean we’re they get there? And how do they seeing this on an everyday basis. A get to what’s right for them as a company looking for 2,000 square company, and then how do they feet that says, “OK, how do I get bring their employees along for cool? I see what everyone else is DANIELLE HERMANN that ride? And then the other one is doing; how do I get cool?” We see privacy, because with the increase of that day in, day out. collaboration and flexibility comes this greater need for privacy. How do you balance those things? Does the furniture play a bigger role than in the past? Johansen: I had an interesting experience in this topic recently Hermann: Absolutely, and the where we were taking (clients) interesting part of that is that the around to different buildings, and furniture companies, or the big they clearly understood how you furniture companies, are starting could take the space, the interior to actually provide more services space itself, and turn it into a because they understand the role virtual office playground. But what that they’re playing in the process, about the bones of the building? and have in the last decade probably JACKIE JOHANSEN Was there too much granite? Were led the way in the research around there too many other people in the the workplace. building that wore ties? And some I see more and more of those little nuances pushed them Wright: companies, when they’re looking for away from some really great options. office space, they want to see some Wright: You know the Hy-Vee examples of what another company corporate campus is very suit-and- did so they can grab onto that. I tie-oriented. They’ve looked at their never used to see that 10 years ago, situation and said, “Well, I’m not and now there are two tours. There’s necessarily going to change our the tour to look through your office entire culture, but I can create a space, and there’s the tour to look … satellite office, I can create a second at examples. location where I can, in turn, create

BILL WRIGHT

annual REAL ESTATE magazine 43 Hermann: And I think that speaks a How do you explain R&R just sort Wright: It used to be that a 10-year lot to the rate of change. I believe of out of the blue deciding to build lease was rare. What I’ve seen, companies want to see something 180,000 square feet of speculative especially in this new construction that, while it’s changing rapidly, is ... you’re seeing longer lease terms. office space? a bit proven, to know that it works, Tenants are willing to commit. If to be able to talk to someone who Wright: A lot of developers have they get the right space, they’re has maybe made the transition and just looked at this market, and they willing to commit longer. understand what challenges they haven’t taken those huge plunges, and faced, what worked, what didn’t that’s my concern on the multifamily Johansen: The walkability is so work, what would they change, even segment of our marketplace right important in the properties that are if they’re only a year into it. now. I mean, there’s apartments in center and western Des Moines. everywhere. And we’ve never done We talk often with clients about, that in the office market. out west you have the opportunity Did Principal Financial Group Inc. to jump in your car and go to any get the ball rolling on all of this restaurant you want, or to go run with its campus rehab project? Jackie, can you you talk a little bit errands. Now, is that the same as about Westfield? walking across the skywalk, walking Hermann: I think there was a slower to go to a boutiquey restaurant Johansen: Our history is to develop start. There were other companies that’s new to the area? It’s not the an office park so the entire office like John Deere and some of these same. There’s pros and cons that park can can be anywhere from 12 others companies that were starting are different for the downtown and to 27 buildings, and they share a to look into these things a decade out west. But in my experience, that fitness center, and they share a very ago. Certainly Principal’s work has rent gap is closing. So it used to be large training center, and some of taken all of that and just pushed it that there was really a differential, those kinds of things. But again, farther forward faster. but especially if you factor in we listened and people said, “We parking costs, that differential is Johansen: More and more companies don’t want to leave the building to really evening out. are competing for talent, so they’re work out. We don’t want to leave the using their space as a way to attract building to go grab a cup of coffee.” In the brokerage role, if I and retain employees. So we’re trying to accommodate Wright: had a suburban building, I would everything that we can into one How cool is it that, in spite tell you, “Well, this is a great place, Bruns: building, that also still sits in the of this competition for talent, because it’s close to where you live,” park where there’s already large companies are open to bringing Well, now so many of those people training facilities and conference others through their space and are living downtown, you can’t use facilities and fiber rings and those sharing their ideas and how they that (pitch) as much anymore. kinds of things. So we’re getting a got to where they got to from a lot of interest, a lot of questions. You decision-making perspective, so add the construction costs and the 7RJREDFNWRWKH:HVWƓHOG the next company can inform their amenities, you know the upgraded building, what kind of interest are decision that much better on that amenities, and that pushes your rent you seeing from tenants, and ... is space. It’s unique, I think. up. Companies are more open to it from folks who are moving, local that right now, because it helps to companies who want to expand and Do you have a sense of whether attract people and keep people. move, or is it from out of town? it’s helping to recruit people from And to build off that, on the outside of the area? Bruns: Johansen: It’s a little bit of both, so cost side, one of the areas that’s seen ... there’s always the conversation Johansen: Well, I’ll give a quick the most escalation in the last year for those tenants that are already little example of that. So we have a and a half to two years is interiors. in Des Moines, especially if they’re tenant ... Regency West Office Park, The part that was sort of lost in the downtown, “Is it worth my walk, ITA, hopefully you’ve been through shuffle was the fact that you have to is it worth my while to move from their space, it’s beautiful. But they have enough people to put in place. downtown out west for a building are very open door, they welcome There have been significant upticks like this?” You know basically it different organizations, different in that particular part of what we feels like a corporate campus, but companies, so they do mini-tours, do, and I think that’s one of the it’s a multitenant building. So we and I can’t tell you how many people reasons why you’re starting to see are getting a lot of interest from have come up to me after the tour tenant improvement costs, as you businesses that are downtown, and said, “Are they hiring?” So that look at rents, creep up to the point but we’re also getting other areas might just be a creative HR tactic. where it’s a tipping point. of interest from Omaha, from different parts of the nation. I would say our first phone calls have been local companies.

44 annual REAL ESTATE magazine There was a lot of vigor in the be open to the Midwest is where we Wright: Certainly when major office market last year. Has that start. Getting them physically here corporations are looking at “Where waned at all? in Des Moines just turns the switch. am I going to open a new office?” A trend that is somewhat they’re spending a lot of time Wright: I don’t think it has, as of Wright: new to our office marketplace would with the municipal economic this morning. In my opinion, there’s development departments, and more. ... You know you can define a be annual escalations in rents. For the first 10, 15 years I was in the there’s a lot of time that’s going to large prospect as 25, let’s say 20 to be spent on what the job force is. 25 thousand feet or larger; there’s business, we would typically see more of those going around right what I call a flat-line structure. You Johansen: And one of the large now looking at new opportunities, sign a lease, the rent is flat for five companies in town was looking to and some of them are not going to years. Perhaps there’s a 25 cent or do a new corporate campus in, what, be in 2017, some of them may be a 50 cent bump in year three. Well, about the last year or two, ended 2018 or 2019, 2020. now we’re starting to see annual up taking it to Colorado and not escalators, and first it was 1 percent expanding here because of labor and now it’s more common to see 2 force. So it is making an impact. How much of a role do increases in percent escalators. It really lends to construction and labor costs factor the rise in the value of real estate. Conetzkey: We talked about into the decision making? With the real estate prices rising, construction costs. Is that something and seeing that kind of annual you are thinking we need to expect Bruns: The biggest challenge we have escalator, foreign or coastal type to increase over time? is keeping to a customer’s budget. real estate investors are taking a So you understand the culture, Bruns: Our market is projected to hard look at Des Moines. you understand the why that goes actually retract a little bit from behind it. They figure out where to a volume perspective in the next Do you think the live, work, play go, what they want it to look and couple of years, so there will be a feel like, and then how to hit that sort of trend that’s really taken little bit of sanity that comes back price point that makes everything off in Washington, D.C., and you to the marketplace. To be able to work for them. And I think there’s see it in Seattle and you see it in take a breath is probably an OK some opportunities right now to Austin, you see it in some of these thing too. leverage a little bit of a — it’s not emerging cities, is the trend going For any of the companies a soft market, but a little bit of to reach here? Hermann: a slowdown. I think the design out there that are thinking about community saw it in the middle of Wright: The density of our market or starting to make a change, or last year; there was a period where is such that I think if it works, it’s move, to take a moment, pause, take there wasn’t as much stuff going on, going to be in limited cases. We have a breath, and think about what’s and that typically affects us about ample land, and there’s land supply really important to them and plan six months later. for many decades to come here in that process, not just from the real the Des Moines metro. So I think it’s estate side but also from the design going to have limited success. In the and construction side. What are some trends you have downtown and East Village, we’ve seen coming from the coasts that built that sense of community and Johansen: The one thing that we can maybe we’ll start seeing here? those amenities and those cultural be absolutely sure of is the economy attractions, and now with all of this ebbs and flows. So around the Johansen: I’ll jump in. I mentioned housing downtown, I think that kind corner, that might be three years, earlier about what happened in of replaces the single project that’s that might be five years from now, these gateway cities, and I really a live, work, play project. I don’t we will be in a different situation do think that we’ll feel the impact see those types of projects having a than we are now. I think working of that. Sometimes when we watch lasting success, because we’re just and collaborating with one another what’s going on with investments in not dense enough of a market. and finding creative projects to ride sales and leasing, and they’re having through those down times with such rent growth and such a sharp Bruns: I think employers are grace is something that will be decline in their absorption rates, increasingly thinking about how needed in the future. and I really do feel like we’ll get to create an immersive experience. more and more of that out-of-town There are lots of opportunities to Wright: There’s a lot of smart, company that’s looking to lease make that happen. intelligent thinking going on, and space, because we’re so much more for someone that’s involved in sales, affordable here. Conetzkey: We haven’t had a lot of that’s a true benefit. I’ve also spent quite a bit of my those major businesses moving time looking for investors for R&R to Des Moines yet. I wonder if properties here in Des Moines and the labor force is one of the main Omaha, and getting the investor to hurdles still?

annual REAL ESTATE magazine 45 OFFICESPACE

This map illustrates how the office listings are Due to space constraints, not all commercial classified according to location. The individual real estate properties are listed. Listings have districts have been identified by the Xceligent been cut by minimum space requirements as Office Advisory Board and are specific to the identified at the top of each list. office category. Many business parks have multiple buildings Only cities in the Greater Des Moines and/or lots available. Due to space constraints, metropolitan area are included in this guide some of these listings were condensed. For (as defined by the Chambers of Commerce/ complete information on any given property, Organizations that are affiliates of the Greater please contact the listing agent. Des Moines Partnership). All listing data is provided by Xceligent, Listings are grouped by location corresponding specializing in commercial real estate. to the map districts. Corrections need to be communicated to Xceligent directly.

46 annual REAL ESTATE magazine | SOURCE: Exchange Solutions by Xceligent with Total Available of 1,900 SF or greater OFFICE for SALE

1171 7th St 23,160 Existing 23,160 $1,600,000 CBRE|Hubbell Commercial 1171 7th St 1923 2 Bill Wright, (515) 221-6672 Des Moines, IA 50314 2007 [email protected]

207 Crocker St 50,544 Existing 50,544 $2,500,000 CBRE|Hubbell Commercial 207 Crocker St 1971 4 Paul Weeks, (515) 221-6691 Des Moines, IA 50309 2000 [email protected] Capital Square 486,755 Existing 486,755 Negotiable CBRE|Hubbell Commercial 400 Locust St 1983 8 Tyler Dingel, (515) 221-6662 Des Moines, IA 50309 [email protected] North

Baker Group Iowa Realty Commercial Construction State: Existing 3400 E Euclid Ave Kevin Crowley, (515) 453-5429 Year Built: 2006 Des Moines, IA 50317 [email protected] Building Size: 18,890 Number of Floors: 1 18,890 SF Available Sale Price: $2,500,000

Northpointe Professional Park 2,519 Existing 12,535 $440,825 JLL-Des Moines 2675 N Ankeny Blvd 2013 1 Marcus Pitts, (515) 556-4727 Ankeny, IA 50023 [email protected] Northpointe Professional Park 2,504 Existing 12,535 $438,200 JLL-Des Moines 2675 N Ankeny Blvd 2013 1 Marcus Pitts, (515) 556-4727 Ankeny, IA 50023 [email protected] 1350 E Washington Ave 8,000 Existing 8,000 $200,000 Keller Williams-Ankeny Metro 1350 E Washington Ave 1900 3 Tom Butler, (515) 491-1561 Des Moines, IA 50313 1990 [email protected] 1105 N Ankeny Blvd 12,532 Existing 12,532 $2,200,000 Knapp Properties, Inc 1105 N Ankeny Blvd 1998 1 Brian Erickson, CCIM, (515) 202-5035 Ankeny, IA 50021 [email protected] Northpointe Professional Park 7,200 Existing 15,100 $750,000 NAI Optimum 2525 N Ankeny Blvd 2006 1 Matt Lundberg, (515) 225-6395 Ankeny, IA 50021 [email protected] South

Medical Services Clinic 2,224 Existing 2,224 $235,000 Buyer’s Realty, Inc. 208 S C St 1970 1 Dave Little, (515) 277-4000 Indianola, IA 50125 [email protected] Rowe Electronics 18,000 Existing 18,000 $1,300,000 CBRE|Hubbell Commercial 339 Hakes Dr 2010 1 Tom DeWaay, (515) 221-6668 Norwalk, IA 50211 [email protected] West

2900 Westown Pkwy 19,880 Existing 19,880 Negotiable CBRE|Hubbell Commercial 2900 Westown Pkwy 1979 2 Riley Hogan, (515) 221-6683 West Des Moines, IA 50266 1988 [email protected] 3811 38th St 4,810 Existing 4,810 $250,000 CBRE|Hubbell Commercial 3811 38th St 1969 1 Marty Herrmann, (515) 221-6653 Des Moines, IA 50310 [email protected] 5601 Douglas Ave 8,446 Existing 8,446 $475,000 CBRE|Hubbell Commercial 5601 Douglas Ave 1940 1 Ajdin Nadarevic, (515) 221-6684 Des Moines, IA 50310 1985 [email protected] Crossmark Building 13,032 Existing 13,032 $780,000 CBRE|Hubbell Commercial 3721 SW 61st St 2000 1 Bill Wright, (515) 221-6672 Des Moines, IA 50321 [email protected]

SOURCE: Exchange Solutions by Xceligent | annual REAL ESTATE magazine 47 OFFICE for SALE with Total Available of 1,900 SF or greater

BUILDING NAME TOTAL AVAILABLE CONSTRUCTION STATE BUILDING SIZE SALE PRICE LISTING COMPANY ADDRESS YEAR BUILT NUMBER OF LISTING AGENT, PHONE CITY, STATE ZIP RENOVATED FLOORS EMAIL Jordan Creek I 58,677 Existing 58,677 $5,800,000 CBRE|Hubbell Commercial 7300 Westown Pkwy 1979 3 Riley Hogan, (515) 221-6683 West Des Moines, IA 50266 1997 [email protected] One Corporate Place 61,933 Existing 68,376 $2,650,000 CBRE|Hubbell Commercial 1501 42nd St 1973 5 Korey Birkenholtz, (515) 221-6645 West Des Moines, IA 50266 1982 [email protected]

West 50th Place III 23,744 Existing 23,744 $2,250,000 CBRE|Hubbell Commercial 4949 Pleasant St 1990 2 Thomas Jacobs, (515) 221-6654 West Des Moines, IA 50266 [email protected] White Oak Office Building 25,094 Existing 25,094 $2,000,000 CBRE|Hubbell Commercial 9550 White Oak Ln 2002 1 Korey Birkenholtz, (515) 221-6645 Johnston, IA 50131 [email protected] 2041 Grand Ave 8,400 Existing 8,400 Negotiable Connolly Realty Group 2041 Grand Ave 1993 1 Matt Connolly, (515) 975-9600 West Des Moines, IA 50265 [email protected] 2045 Grand Ave 8,400 Existing 8,400 Negotiable Connolly Realty Group 2045 Grand Ave 1993 1 Matt Connolly, (515) 975-9600 West Des Moines, IA 50265 [email protected]

University Place Ferguson Commercial Real Estate Services Construction State: Existing 12129 University Ave Darin Ferguson, CCIM SIOR, (515) 440-0600 Year Built: 2006 Clive, IA 50325 [email protected] Building Size: 22,305 22,305 SF Available Number of Floors: 2 Sale Price: $3,800,000

3810 Ingersoll Ave 5,720 Existing 5,720 $779,000 Fleetwood Commercial Real Estate Services 3810 Ingersoll Ave 1955 2 Dean Weitenhagen, (515) 988-8761 Des Moines, IA 50312 2007 [email protected]

4512 Merle Hay Rd 5,132 Existing 5,132 $449,990 Iowa Realty Commercial 4512 Merle Hay Rd 1957 1 Mick Grossman, (515) 222-0000 Des Moines, IA 50310 [email protected] Crescent Chase 41,080 Existing 41,080 Negotiable JLL-Des Moines 8850 NW 62nd Ave 2008 1 Heath Bullock, (515) 554-7412 Johnston, IA 50131 [email protected] 2925 Ingersoll Ave 4,600 Existing 13,394 $925,000 MCR | Morton Commercial Real Estate 2925 Ingersoll Ave 2009 3 Shannon Morton, (515) 508-1930 Des Moines, IA 50312 [email protected] Crawford Mansion 9,258 Existing 9,258 $720,000 MCR | Morton Commercial Real Estate 2203 Grand Ave 1900 3 Shannon Morton, (515) 508-1930 Des Moines, IA 50312 2015 [email protected]

3900 Westown Pkwy 15,732 Existing 15,732 $1,950,000 NAI Optimum 3900 Westown Pkwy 1985 1 Keith Olson, (515) 226-8014 West Des Moines, IA 50266 [email protected] 2150 Grand Ave 19,692 Existing 19,692 $2,300,000 Peter A. Brown Commercial Real Estate Services 2150 Grand Ave 1967 3 Peter Brown, (515) 277-1265 Des Moines, IA 50312 [email protected] 8560 Alice Ave 3,600 Existing 3,600 $345,000 Peter A. Brown Commercial Real Estate Services 8560 Alice Ave 1976 1 Peter Brown, (515) 277-1265 Clive, IA 50325 [email protected] 4919 Douglas Ave 7,260 Existing 7,260 $460,000 Stanbrough Realty Company 4919 Douglas Ave 1985 2 Jeff Stanbrough CCIM, CPM, (515) 334-3345 Des Moines, IA 50310 [email protected] The Galleria 2,763 Existing 26,168 $350,000 Stanbrough Realty Company 4090 Westown Pkwy 1988 1 Jeff Stanbrough CCIM, CPM, (515) 334-3345 West Des Moines, IA 50266 [email protected] Jordan Creek Business Condos 1,934 Existing 30,800 $212,740 Sue Clark Real Estate Services 6150 Village View Dr 2007 1 Julie Brown, (515) 321-3812 West Des Moines, IA 50266 [email protected] Rocklyn Office Park Bldg 3 10,161 Existing 10,161 $575,000 Terrus Real Estate Group, LLC 6901 Hickman Rd 1989 2 Brian Phillips, (515) 471-4320 Urbandale, IA 50322 1993 [email protected]

48 annual REAL ESTATE magazine | SOURCE: Exchange Solutions by Xceligent Unparalleled passion. Innovative vision. Relentless dedication. Community champion.

Hubbell Realty Company is the leading provider of real estate solutions today and tomorrow. We are always breaking new ground. INDUSTRY TRENDS

ECONOMIC DEVELOPMENT HOUSING-WORKFORCE NEXUS Housing affordability is key to attracting and retaining a quality workforce.

IMPACT: “Affordable” or “workforce” urban housing is another city. Meanwhile, additional restaurants, stores, essential for moving the region’s momentum forward. and hotels will continue to open over the next couple of Downtown’s current vitality is largely attributable to years. They will need quality service workers to ensure the thousands of downtown residents – mostly younger their success. and earning entry level professional salaries -- who were the early adopters of Des Moines’ urban lifestyle This slice of the workforce also has choices; to make these and reside in affordable apartments. jobs in downtown appealing, housing matched to the needs of these employees must be an option in downtown. These young, ambitious workers fueled downtown’s vibrancy, encouraging the development of new Urban housing available to all who want to live in restaurants, retail, entertainment, events and hotels downtown is a key aspect to regional workforce in downtown. Market rates for downtown housing attraction and retention and an imperative piece of Des are increasing to the point where living downtown is Moines’ highly touted quality of life. unaffordable to those who make lower or even moderate entry level salaries. WAY TOO EARLY PREDICTION: In 10 years... the workforce-housing nexus will The current pipeline of new downtown housing is 90 become a priority for downtown employers, percent market rate – 10 percent affordable. prompting corporate advocacy and involvement in a slew of solutions from transit and BCycle to If a young professional fresh out of college cannot affordable housing kitties to assist in ensuring ﬁnd a desirable place to live near their job offer in housing choice for our prime workforce. downtown Des Moines, they may elect to take a job in

ERIN OLSON-DOUGLAS Economic development director, City of Des Moines

50 annual REAL ESTATE magazine BROKER BANKING CONTINUE TO TOP OF THE HILL? After years of climbing, a rough GROW THE CORE patch could be ahead. Expect attraction back to the core and growth from the inside out.

IMPACT: This trend is slowly happening for many IMPACT: Through my ﬁrst 18 years in banking, reasons. The number one reason is that our commercial real estate development has been downtown, like others, are cool again. Many a roller coaster. It started on a steady, if want to live in or close to downtown. sometimes jerky climb.

There are many options for all generations to live After cresting the hill and dead dropping in work and play around the core of Des Moines. 2008, we spent four years in a corkscrew pattern I see knockdowns becoming a better option for (like the Dragon). Then we switched rides and housing lot development in the north of grand started the climb again in 2012. area, Beaverdale and similar neighborhoods close to downtown. Now it feels as if we are about to top the hill again with a smaller, quick drop followed by a Keeping your commute short, staying in a more few rough curves - more like the Tornado. walkable neighborhood and living in a more bike friendly community will be more and more Interest rates are rising, consumer confidence important and desirable in the future. That all and retail spending appear to be flagging, and happens best towards a city core. political unpredictability continues to be a distraction. WAY TOO EARLY PREDICTION: In 10 years... tiny home development will We might see a rough ride for retail properties, find it's way into Des Moines metro. It could a possible setback for apartment occupancy and be sooner than 10 years as many people are rents, but a period of opportunity for industrial dreaming big and trying to find ways for it to if distribution needs continue to grow. happen now. We as a community have to get used to higher density development outside of downtown. More density of housing units in Des JENNIFER COOPER Moines will help grow small business. Vice president, Bankers Trust Co.

MATT CONNOLLY Broker and developer, Iowa Realty

annual REAL ESTATE magazine 51 OFFICE for LEASE with total available of 3,100 SF or greater

108 3rd St 6,394 Existing 33,540 $9.00 American Home Sales 108 SW 3rd St 2,043 1901 3 NNN John McRoberts, (515) 221-1200 Des Moines, IA 50309 530 1985 [email protected]

319 SW 5th St 20,180 Existing 23,958 $15.00 - CBRE|Hubbell Commercial 319 SW 5th St 7,000 1921 3 $19.00 Marty Herrmann, (515) 221-6653 Des Moines, IA 50309 1,180 FSG [email protected] 701 E Court Ave 4,000 Existing 8,642 $15.00 CBRE|Hubbell Commercial 701 E Court Ave 4,000 1992 2 MG Korey Birkenholtz, (515) 221-6645 Des Moines, IA 50309 4,000 [email protected] Capital Square 122,820 Existing 486,755 $14.50 - CBRE|Hubbell Commercial 400 Locust St 25,213 1983 8 $19.00 Korey Birkenholtz, (515) 221-6645 Des Moines, IA 50309 1,043 [email protected] Davis Brown Tower 9,181 Existing 125,216 $23.00 CBRE|Hubbell Commercial 215 10th St 5,776 2007 13 MG Riley Hogan, (515) 221-6683 Des Moines, IA 50309 3,405 [email protected] East Grand Office Park 8,335 Existing 55,874 $9.95 CBRE|Hubbell Commercial 100 E Grand Ave 6,131 1987 3 NNN Austin Hedstrom, (515) 221-6675 Des Moines, IA 50309 2,204 [email protected]

Financial Center CBRE|Hubbell Commercial Maxcontiguous Space: 24,868 Building Size: 365,674 666 Walnut St Jesse Bunney, (515) 221-6667 Mindivisible Space: 997 Number of Floors: 25 Des Moines, IA 50309 [email protected] Contruction State: Existing Lease Rate: $17.00 - $25.00 Year Built: 1974 Lease Type: FSG 112,691 SF Available

Gray’s Lake Office Park 73,021 Planned73,021 $16.00 - CBRE|Hubbell Commercial 1 SW 9th St 73,021 3 $24.00 Bill Wright, (515) 221-6672 Des Moines, IA 50309 2,000 NNN [email protected] Keck City Center 26,099 Existing 50,569 $10.00 CBRE|Hubbell Commercial 500 Grand Ave 26,099 1987 2 NNN Jesse Bunney, (515) 221-6667 Des Moines, IA 50309 1,199 2014 [email protected] Locust Plaza 4,419 Existing 16,667 $15.00 CBRE|Hubbell Commercial 1420 Locust St 4,419 1910 2 NNN Tyler Dingel, (515) 221-6662 Des Moines, IA 50309 4,419 2003 [email protected] Partnership Building 5,005 Existing 283,556 $26.18 - CBRE|Hubbell Commercial 700 Locust St 275 1981 6 $76.19 Jesse Bunney, (515) 221-6667 Des Moines, IA 50309 126 2014 NNN [email protected]

Riverpoint Business Park 17,615 Existing 95,115 $12.50 CBRE|Hubbell Commercial 500 SW 7th St 10,180 1990 3 FSG Paul Weeks, (515) 221-6691 Des Moines, IA 50309 900 [email protected]

Riverpoint Business Park CBRE|Hubbell Commercial Maxcontiguous Space: 14,705 Building Size: 52,920 600 SW 7th St Paul Weeks, (515) 221-6691 Mindivisible Space: 3,385 Number of Floors: 1 Des Moines, IA 50309 [email protected] Contruction State: Existing Lease Rate: $3.50 - $5.50 Year Built: 1982 Lease Type: Net 14,705 SF Available

Ruan Center 78,942 Existing 499,553 $17.75 CBRE|Hubbell Commercial 666 Grand Ave 52,628 1973 35 FSG Bill Wright, (515) 221-6672 Des Moines, IA 50309 2,000 [email protected] MLK River Park 53,582 Existing 83,582 $5.50 Eychaner Properties 405 SW 5th St 53,582 1990 1 NNN Andy Burton, (515) 262-0000x 102 Des Moines, IA 50309 53,582 [email protected] MLK River Park 25,440 Existing 25,440 $5.50 Eychaner Properties 475 SW 5th St 25,440 1989 1 NNN Andy Burton, (515) 262-0000x 102 Des Moines, IA 50309 25,440 [email protected] MLK River Park 5,106 Existing 28,772 $8.91 - $8.91 Eychaner Properties 401 SW 8th St 5,106 1973 1 Gross Rich Eychaner, (515) 262-0000x 101 Des Moines, IA 50309 2,143 2002 [email protected]

52 annual REAL ESTATE magazine | SOURCE: Exchange Solutions by Xceligent with total available of 3,100 SF or greater OFFICE for LEASE

BUILDING NAME TOTAL AVAILABLE CONSTRUCTION STATE BUILDING SIZE LEASE RATE LISTING COMPANY ADDRESS MAXCONTIGUOUS SPACE YEAR BUILT NUMBER OF LEASE TYPE LISTING AGENT, PHONE CITY, STATE ZIP MINDIVISIBLE SPACE RENOVATED FLOORS EMAIL 212 E 3rd St 5,200 Existing 10,560 $17.50 Ferguson Commercial Real Estate Services 212 E 3rd St 5,200 1906 2 NNN Aaron Hyde, (515) 309-0916 Des Moines, IA 50309 3,400 [email protected] Teachout Building 4,391 Existing 15,240 $16.00 Ferguson Commercial Real Estate Services 500 E Locust St 2,200 1912 6 Gross Ben Brackett, (515) 309-0918 Des Moines, IA 50309 2,191 1999 [email protected]

Gateway East Office Building 6,800 Existing 30,920 $19.00 - Hansen Real Estate Services Inc. 601 E Locust St 5,800 2002 2 $26.40 Troy Hansen, (515) 270-9166 Des Moines, IA 50309 1,000 Gross [email protected] The Des Moines Building 12,062 Existing 132,418 $17.00 - Hansen Real Estate Services Inc. 405 6th Ave 8,775 1931 14 $20.00 Troy Hansen, (515) 270-9166 Des Moines, IA 50309 3,287 1991 Net [email protected] Village Place 3,100 Existing 51,278 $18.00 Hansen Real Estate Services Inc. 515 E Locust St 3,100 1984 5 NNN Troy Hansen, (515) 270-9166 Des Moines, IA 50309 3,100 [email protected] Hub Tower 113,766 Existing 314,214 $17.00 Iowa Realty Commercial 699 Walnut St 77,590 1985 20 FSG Kevin Crowley, (515) 453-5429 Des Moines, IA 50309 3,000 [email protected] 317 6th Ave 7,563 Existing 157,080 $12.00 JLL-Des Moines 317 6th Ave 7,563 1966 14 FSG Heath Bullock, (515) 554-7412 Des Moines, IA 50309 7,563 1988 [email protected] 615 3rd St 15,764 Existing 48,970 $8.75 JLL-Des Moines 615 3rd St 8,108 1991 3 NNN Justin Lossner, (515) 371-0846 Des Moines, IA 50309 1,553 2006 [email protected] 801 Grand Ave 5,758 Existing 707,185 $18.00 JLL-Des Moines 801 Grand Ave 5,249 1991 41 NNN Heath Bullock, (515) 554-7412 Des Moines, IA 50309 509 2002 [email protected] Equitable Building 21,753 Existing 34,848 $18.00 - JLL-Des Moines 604 Locust St 12,346 1923 19 $20.00 Justin Lossner, (515) 371-0846 Des Moines, IA 50309 611 2007 Gross [email protected] The Fleming Building 3,188 Existing 8,514 $12.00 JLL-Des Moines 218 6th Ave 3,188 1907 11 NNN Justin Lossner, (515) 371-0846 Des Moines, IA 50309 3,188 2012 [email protected] Two Ruan Center 16,597 Existing 256,250 $16.50 JLL-Des Moines 601 Locust St 16,597 1981 14 FSG Heath Bullock, (515) 554-7412 Des Moines, IA 50309 16,597 2000 [email protected] 611 5th Ave 28,638 Existing 78,375 $14.50 Knapp Properties, Inc 611 5th Ave 19,241 1953 4 FSG Ben Garrett, (515) 401-7071 Des Moines, IA 50309 9,397 1984 [email protected]

Ruan Center 13,128 Existing 499,553 $15.00 NAI Optimum 666 Grand Ave 13,128 1973 35 FSG Keith Olson, (515) 226-8014 Des Moines, IA 50309 13,128 [email protected] 317 6th Ave 82,757 Existing 157,080 $15.00 Peter A. Brown Commercial Real Estate Services 317 6th Ave 9,997 1966 14 FSG Peter Brown, (515) 277-1265 Des Moines, IA 50309 1,476 1988 [email protected] Northwestern Building 6,992 Existing 26,384 $16.50 Peter A. Brown Commercial Real Estate Services 321 E Walnut St 6,505 1914 3 MG Peter Brown, (515) 277-1265 Des Moines, IA 50309 226 1985 [email protected]

Capitol Center I R&R Real Estate Advisors Maxcontiguous Space: 15,269 Building Size: 43,721 600 E Court Ave Paul Rupprecht, (515) 223-4500 Mindivisible Space: 1,457 Number of Floors: 2 Des Moines, IA 50309 [email protected] Contruction State: Existing Lease Rate: $9.75 Year Built: 1982 Lease Type: NNN 25,252 SF Available

Englewood Center Bldg 2 7,026 Existing 12,300 $16.00 T&L Properties 1221 Center St 5,811 1973 2 FSG Matt Guns, (515) 999-8096 Des Moines, IA 50309 1,215 2016 [email protected] 100 Court Ave 10,649 Existing 90,275 $17.00 Terrus Real Estate Group, LLC 100 Court Ave 8,000 1900 6 FSG Sherri Goode, (515) 471-4310 Des Moines, IA 50309 1,247 1987 [email protected]

SOURCE: Exchange Solutions by Xceligent | annual REAL ESTATE magazine 53 OFFICE for LEASE with total available of 3,100 SF or greater

BUILDING NAME TOTAL AVAILABLE CONSTRUCTION STATE BUILDING SIZE LEASE RATE LISTING COMPANY ADDRESS MAXCONTIGUOUS SPACE YEAR BUILT NUMBER OF LEASE TYPE LISTING AGENT, PHONE CITY, STATE ZIP MINDIVISIBLE SPACE RENOVATED FLOORS EMAIL Edna M Griffin Building 15,045 Existing 50,406 $10.00 - Xceligent Inc-Greater Iowa 319 7th St 2,998 1885 6 $14.00 Research Pending, (816) 303-5300 Des Moines, IA 50309 129 1993 [email protected] Liberty Building 7,037 Existing 133,094 $18.00 Xceligent Inc-Greater Iowa 410 6th Ave 4,024 1923 12 Gross Research Pending, (816) 303-5300 Des Moines, IA 50309 3,013 1988 [email protected] North

95 University Ave 14,043 Existing 41,128 $19.00 CBRE|Hubbell Commercial 95 University Ave 7,245 1981 1 NNN Marty Herrmann, (515) 221-6653 Des Moines, IA 50314 2,057 2008 [email protected] Ankeny Business Park 8,119 Existing 45,400 $7.50 CBRE|Hubbell Commercial 1555 SE Delaware Ave 8,119 2001 1 Net Jan Berg, (515) 221-6680 Ankeny, IA 50021 2,309 [email protected] Ankeny Business Park 4,326 Existing 41,300 $11.00 CBRE|Hubbell Commercial 1605 SE Delaware Ave 4,326 2000 1 NNN Bill Wright, (515) 221-6672 Ankeny, IA 50021 4,326 [email protected] Mercy North Campus 12,000 Existing 100,751 $18.50 CBRE|Hubbell Commercial 800 E 1st St 12,000 2004 4 NNN Riley Hogan, (515) 221-6683 Ankeny, IA 50021 1,200 [email protected]

Wherry CBRE|Hubbell Commercial Maxcontiguous Space: 1,350 Building Size: 12,060 1600 6th Ave Bill Wright, (515) 221-6672 Mindivisible Space: 1,350 Number of Floors: 1 Des Moines, IA 50314 [email protected] Contruction State: Existing Lease Rate: $8.00 Year Built/Renovated: 1887/ 2005 Lease Type: NNN 1,350 SF Available

215 NW 18th St Bldg 2 10,000 Existing 10,000 $13.50 - Denny Elwell Company 215 NW 18th St 10,000 2016 1 $15.50 Leasing Sales, (515) 964-1587 Ankeny, IA 50023 1,250 NNN [email protected] Delaware Centre 6,000 Existing 123,913 $10.00 Denny Elwell Company 1802 SE Delaware Ave 6,000 1998 1 MG Leasing Sales, (515) 964-1587 Ankeny, IA 50021 6,000 [email protected] LGI Business Park 25,000 Existing 59,996 $12.00 Denny Elwell Company 2450 SE Oak Tree Ct 25,000 2008 1 NNN Mike Billings, (515) 964-1587 Ankeny, IA 50021 25,000 [email protected] Metro Center 4,967 Existing 25,901 $13.00 Denny Elwell Company 2501 SE Tones Dr 4,967 2003 1 NNN Leasing Sales, (515) 964-1587 Ankeny, IA 50021 4,967 [email protected]

Park Fair Mall Denny Elwell Company Maxcontiguous Space: 19,856 Building Size: 199,938 100 E Euclid Ave Leasing Sales, (515) 964-1587 Mindivisible Space: 783 Number of Floors: 2 Des Moines, IA 50313 [email protected] Contruction State: Existing Lease Rate: $10.00 - $12.00 Year Built/Renovated: 1975/2001 38,451 SF Available

3812-3834 Douglas Ave 4,800 Existing 8,163 $6.75 - Iowa Realty Commercial 3812 Douglas Ave 3,200 1966 2 $12.00 John Knapp, (515) 453-5467 Des Moines, IA 50310 800 Gross [email protected] Northpointe Professional Park 6,275 Existing 12,535 $14.50 JLL-Des Moines 2675 N Ankeny Blvd 6,275 2013 1 NNN Marcus Pitts, (515) 556-4727 Ankeny, IA 50023 1,252 [email protected] Northpointe Professional Park 5,000 Existing 15,100 $4.80 - JLL-Des Moines 2575 N Ankeny Blvd 5,000 2006 1 $15.58 Jeremy Spillman, (515) 207-0761 Ankeny, IA 50021 5,000 NNN [email protected] Park Sight II 14,365 U/C14,365 $15.50 JLL-Des Moines 2455 SW State St 14,365 1 NNN Marcus Pitts, (515) 556-4727 Ankeny, IA 50023 2,742 [email protected] The District at Prairie Trail Bldg 2 6,306 Existing 75,477 $14.50 JLL-Des Moines 1380 SW Vintage Pkwy 2,901 2016 2 NNN Marcus Pitts, (515) 556-4727 Ankeny, IA 50023 1,654 [email protected]

54 annual REAL ESTATE magazine | SOURCE: Exchange Solutions by Xceligent with total available of 3,100 SF or greater OFFICE for LEASE

BUILDING NAME TOTAL AVAILABLE CONSTRUCTION STATE BUILDING SIZE LEASE RATE LISTING COMPANY ADDRESS MAXCONTIGUOUS SPACE YEAR BUILT NUMBER OF LEASE TYPE LISTING AGENT, PHONE CITY, STATE ZIP MINDIVISIBLE SPACE RENOVATED FLOORS EMAIL 1105 N Ankeny Blvd 12,532 Existing 12,532 $12.50 Knapp Properties, Inc 1105 N Ankeny Blvd 12,532 1998 1 NNN Brian Erickson, CCIM, (515) 202-5035 Ankeny, IA 50021 6,500 [email protected] 802 SE Shurfine Dr 10,000 Existing 121,415 Negotiable Margulies Property Management 802 SE Shurfine Dr 10,000 1986 1 NNN Cindy Eggley, (515) 226-9100 Ankeny, IA 50021 5,000 [email protected]

Northpointe Professional Park 14,400 Existing 15,100 $3.00 - $9.00 NAI Optimum 2525 N Ankeny Blvd 7,200 2006 1 NNN Matt Lundberg, (515) 225-6395 Ankeny, IA 50021 3,400 [email protected] Park Sight I 3,580 Existing 20,618 $13.00 NAI Optimum 2325 SW State St 3,580 2013 1 NNN Matt Lundberg, (515) 225-6395 Ankeny, IA 50023 3,580 [email protected] Eastpointe Center 3,081 Existing 25,242 $9.75 Peter A. Brown Commercial Real Estate Services 160 Adventureland Dr 3,081 2008 1 NNN Peter Brown, (515) 277-1265 Altoona, IA 50009 3,081 [email protected] 5075 E University Ave 4,428 Existing 18,900 $6.00 Rueters 5075 E University Ave 4,428 2000 2 NNN Paige Rueter Benlaala, (515) 370-3211 Pleasant Hill, IA 50327 4,428 [email protected] 204 8th St SE 3,950 Existing 3,960 $7.00 - Stanbrough Realty Company 204 8th St 1,950 1969 1 $12.00 Eric J. Grubb, CCIM, (515) 975-7441 Altoona, IA 50009 1,000 NNN [email protected] South

1011 N Jefferson Way 3,819 Existing 7,200 $9.00 - Buyer’s Realty, Inc. 1011 N Jefferson Way 2,775 2007 1 $13.00 Dave Little, (515) 277-4000 Indianola, IA 50125 700 NNN [email protected] 1410 E Diehl Ave 3,017 Existing 16,048 Negotiable Ferguson Commercial Real Estate Services 1410 E Diehl Ave 1,590 1959 1 MG Ben Digmann, (515) 309-0919 Des Moines, IA 50320 279 1983 [email protected] West

Ashland Point 7,869 Existing 62,184 $11.75 Anderson Properties 2900 100th St 4,581 2005 3 NNN Mark Anderson, (515) 270-6104 Urbandale, IA 50322 3,288 [email protected] Northwest Corporate Park 18,348 Existing 19,800 $13.00 Anderson Properties 10800 Meredith Dr 4,510 2016 1 NNN Jeff Saddoris, (515) 371-3023 Urbandale, IA 50322 2,233 [email protected]

Northwest Corporate Park 12,380 Existing 21,720 $12.00 - Anderson Properties 4307 NW Urbandale Dr 9,310 2013 1 $13.00 Mark Anderson, (515) 270-6104 Urbandale, IA 50322 3,070 NNN [email protected] Northwest Corporate Park 4,104 Existing 18,000 $13.00 Anderson Properties 4451 NW Urbandale Dr 4,104 2015 1 NNN Mark Anderson, (515) 270-6104 Urbandale, IA 50322 4,104 [email protected] Westview Condominiums Bldg 3 3,324 Existing 21,600 $9.50 Blackacre Realty, LLC 2400 86th St 2,170 1979 2 NNN Kurt Pagliai, (515) 202-8800 Urbandale, IA 50322 1,154 [email protected] Data Center - Des Moines Colocation Space 30,000 Existing65,000 $30.00 Bob Dubke Realty 123 Confidential 30,000 2 Industrial Bob Dubke, (507) 398-5964 Des Moines, IA 50312 28 Gross [email protected] 10430 New York Ave 3,266 Existing 18,480 $8.00 Brad Johnson Investments 10430 New York Ave 3,266 1992 1 NNN Cindy Johnson, (515) 276-1589 Urbandale, IA 50322 3,266 [email protected] 10500-10582 Justin Dr 9,295 Existing 53,901 $7.50 - $9.00 Brad Johnson Investments 10500 Justin Dr 3,293 1999 1 NNN Cindy Johnson, (515) 276-1589 Urbandale, IA 50322 1,813 [email protected] 3330 106th Cir 4,032 Existing 24,320 $7.25 - $9.50 Brad Johnson Investments 3330 106th Cir 2,400 2000 1 NNN Cindy Johnson, (515) 276-1589 Urbandale, IA 50322 1,632 2007 [email protected]

SOURCE: Exchange Solutions by Xceligent | annual REAL ESTATE magazine 55 OFFICE for LEASE with total available of 3,100 SF or greater

BUILDING NAME TOTAL AVAILABLE CONSTRUCTION STATE BUILDING SIZE LEASE RATE LISTING COMPANY ADDRESS MAXCONTIGUOUS SPACE YEAR BUILT NUMBER OF LEASE TYPE LISTING AGENT, PHONE CITY, STATE ZIP MINDIVISIBLE SPACE RENOVATED FLOORS EMAIL Walnut Ridge Business Park 5,026 Existing 14,040 Negotiable Brad Johnson Investments 10707 Justin Dr 5,026 1993 1 FSG Cindy Johnson, (515) 276-1589 Urbandale, IA 50322 5,026 [email protected] 70-110 E Highway 6 3,323 Existing 8,208 $14.00 Buyer’s Realty, Inc. 70 E Highway 6 2,123 2000 1 NNN Mike Cunningham, (515) 277-4000 Waukee, IA 50263 1,200 2003 [email protected]

1701 22nd St 3,700 Existing 15,230 $11.00 By Owner 1701 22nd St 3,700 1982 2 MG John Meyer, (515) 224-4827 West Des Moines, IA 50266 3,700 [email protected] 1963 Bell Ave 111,400 Existing 117,025 $7.50 CBRE|Hubbell Commercial 1963 Bell Ave 111,400 1963 4 NNN Riley Hogan, (515) 221-6683 Des Moines, IA 50315 5,000 1995 [email protected] 2501 Westown Pkwy 7,361 Existing 24,420 $9.75 - CBRE|Hubbell Commercial 2501 Westown Pkwy 2,682 2001 2 $10.75 Ajdin Nadarevic, (515) 221-6684 West Des Moines, IA 50266 2,231 NNN [email protected] 2824-2844 104th St 5,081 Existing 18,608 $8.50 CBRE|Hubbell Commercial 2824 104th St 3,004 1994 2 NNN Ajdin Nadarevic, (515) 221-6684 Urbandale, IA 50322 2,077 [email protected] 2824-2844 104th St 3,094 Existing 18,608 Negotiable CBRE|Hubbell Commercial 2824 104th St 265 1994 2 NNN Ajdin Nadarevic, (515) 221-6684 Urbandale, IA 50322 179 [email protected] 3106-3110 Ingersoll Ave 6,940 Existing 6,940 $12.75 CBRE|Hubbell Commercial 3106 Ingersoll Ave 6,940 1966 1 Net Paul Weeks, (515) 221-6691 Des Moines, IA 50312 6,940 2007 [email protected] 3636 Westown Pkwy 3,362 Existing 30,048 $14.00 CBRE|Hubbell Commercial 3636 Westown Pkwy 3,362 1984 2 FSG Thomas Jacobs, (515) 221-6654 West Des Moines, IA 50266 1,560 [email protected] 3811 38th St 4,810 Existing 4,810 $6.24 CBRE|Hubbell Commercial 3811 38th St 4,810 1969 1 NNN Marty Herrmann, (515) 221-6653 Des Moines, IA 50310 4,810 [email protected] 4308 University Ave 3,220 Existing 3,220 $13.66 CBRE|Hubbell Commercial 4308 University Ave 3,220 1978 1 NNN Jan Berg, (515) 221-6680 Des Moines, IA 50311 3,220 [email protected] 5601 Douglas Ave 8,446 Existing 8,446 $8.00 CBRE|Hubbell Commercial 5601 Douglas Ave 8,446 1940 1 NNN Ajdin Nadarevic, (515) 221-6684 Des Moines, IA 50310 8,446 1985 [email protected] 5901 Westown Pkwy 4,999 Existing 71,730 $18.50 - CBRE|Hubbell Commercial 5901 Westown Pkwy 3,799 2002 2 $20.00 Riley Hogan, (515) 221-6683 West Des Moines, IA 50266 1,200 NNN [email protected]

8364 Hickman Rd 8,000 Existing 17,600 $10.00 CBRE|Hubbell Commercial 8364 Hickman Rd 8,000 1980 1 MG Jesse Bunney, (515) 221-6667 Clive, IA 50325 2,000 1988 [email protected] 8500 N Franklin Ave 12,600 Existing 12,600 Negotiable CBRE|Hubbell Commercial 8500 N Franklin Ave 12,600 1989 2 FSG Craig King, (515) 221-6678 Clive, IA 50325 500 [email protected] Bernau Capital Building 3,500 Existing 22,092 $15.00 CBRE|Hubbell Commercial 1001 Grand Ave 3,500 1990 2 FSG Bill Wright, (515) 221-6672 West Des Moines, IA 50265 3,500 2004 [email protected]

Century I Office Building CBRE|Hubbell Commercial Maxcontiguous Space: 15,462 Building Size: 93,438 2700 Westown Pkwy Korey Birkenholtz, (515) 221-6645 Mindivisible Space: 2,560 Number of Floors: 4 West Des Moines, IA 50266 [email protected] Contruction State: Existing Lease Rate: $14.50 Year Built: 1984 Lease Type: FSG 38,883 SF Available

Covenant Office Building 6,000 Existing 10,800 $12.00 CBRE|Hubbell Commercial 2635 Berkshire Pkwy 6,000 2016 2 NNN Austin Hedstrom, (515) 221-6675 Clive, IA 50325 1,086 [email protected] Green Meadows West 9,180 Existing 14,762 $14.50 CBRE|Hubbell Commercial 5627 NW 86th St 9,180 2001 1 MG Korey Birkenholtz, (515) 221-6645 Johnston, IA 50131 9,180 [email protected]

56 annual REAL ESTATE magazine | SOURCE: Exchange Solutions by Xceligent with total available of 3,100 SF or greater OFFICE for LEASE

BUILDING NAME TOTAL AVAILABLE CONSTRUCTION STATE BUILDING SIZE LEASE RATE LISTING COMPANY ADDRESS MAXCONTIGUOUS SPACE YEAR BUILT NUMBER OF LEASE TYPE LISTING AGENT, PHONE CITY, STATE ZIP MINDIVISIBLE SPACE RENOVATED FLOORS EMAIL Green Meadows West 5,004 Existing 14,000 $14.50 CBRE|Hubbell Commercial 5623 NW 86th St 3,579 2000 2 MG Korey Birkenholtz, (515) 221-6645 Johnston, IA 50131 1,425 [email protected] Jordan Creek I 58,677 Existing 58,677 $9.50 CBRE|Hubbell Commercial 7300 Westown Pkwy 58,677 1979 3 NNN Riley Hogan, (515) 221-6683 West Des Moines, IA 50266 15,000 1997 [email protected]

Mercy Wellness Center Bldg 5 10,283 Existing 37,500 $18.50 - CBRE|Hubbell Commercial 1449 NW 128th St 10,283 2008 2 $20.00 Riley Hogan, (515) 221-6683 West Des Moines, IA 50266 1,800 NNN [email protected] Mercy Wellness Center Lots 3 & 6 58,000 Proposed58,000 $18.00 CBRE|Hubbell Commercial 40,000 2 NNN Riley Hogan, (515) 221-6683 West Des Moines, IA 50266 5,000 [email protected] Merle Hay Centre 27,025 Existing 157,488 $11.95 - CBRE|Hubbell Commercial 6200 Aurora Ave 6,711 1980 6 $13.90 Jon Ledinsky, (515) 221-6685 Urbandale, IA 50322 618 1989 FSG [email protected] Merle Hay Tower 16,371 Existing 54,000 $8.50 - CBRE|Hubbell Commercial 3850 Merle Hay Rd 3,924 1983 6 $10.00 Jon Ledinsky, (515) 221-6685 Des Moines, IA 50322 208 MG [email protected] One Corporate Place 14,934 Existing 68,376 $13.50 CBRE|Hubbell Commercial 1501 42nd St 7,634 1973 5 FSG Korey Birkenholtz, (515) 221-6645 West Des Moines, IA 50266 1,001 1982 [email protected] Paragon Office Park 64,893 Existing 217,877 $9.50 CBRE|Hubbell Commercial 4740 121st St 64,893 2005 1 NNN Thomas Jacobs, (515) 221-6654 Urbandale, IA 50323 50,000 2008 [email protected]

Telligen CBRE|Hubbell Commercial Maxcontiguous Space: 104,348 Building Size: 275,021 1776 W Lakes Pkwy Tyler Dingel, (515) 221-6662 Mindivisible Space: 15,000 Number of Floors: 4 West Des Moines, IA 50266 [email protected] Contruction State: Existing Lease Rate: Negotiable Year Built/Renovated: 1993/1999 Lease Type: NNN 104,348 SF Available

Village Shops West 10,898 Existing 52,204 Negotiable CBRE|Hubbell Commercial 7105 Mills Civic Pkwy 10,898 2005 1 NNN Riley Hogan, (515) 221-6683 West Des Moines, IA 50266 2,000 [email protected] Wakonda on Fleur 4,748 Existing 44,370 Negotiable CBRE|Hubbell Commercial 4121 Fleur Dr 4,748 1966 1 Gross Bill Wright, (515) 221-6672 Des Moines, IA 50321 4,748 2007 [email protected] Westmark Plaza 5,742 Existing 40,605 $10.00 - CBRE|Hubbell Commercial 2743 86th St 5,142 2000 1 $12.50 Ajdin Nadarevic, (515) 221-6684 Urbandale, IA 50322 300 NNN [email protected]

Wherry II CBRE|Hubbell Commercial Maxcontiguous Space: 4,560 Building Size: 4,560 1612 6th Ave Bill Wright, (515) 221-6672 Mindivisible Space: 4,560 Number of Floors: 1 Des Moines, IA 50314 [email protected] Contruction State: Existing Lease Rate:$7.75 Year Build: 1974 Lease Type: NNN 4,560 SF Available

White Oak Office Building 7,885 Existing 25,094 $14.00 CBRE|Hubbell Commercial 9550 White Oak Ln 7,885 2002 1 FSG Korey Birkenholtz, (515) 221-6645 Johnston, IA 50131 2,000 [email protected] Offices at Northpark Bldg 12,000 Existing 12,000 $12.50 Commercial Midwest 9131 Northpark Dr 12,000 2009 1 NNN Curt Johnson, (515) 250-3100 Johnston, IA 50131 3,000 [email protected] Offices at Northpark Bldg 12,000 Existing 12,000 $12.50 Commercial Midwest 9161 Northpark Dr 12,000 2010 1 NNN Curt Johnson, (515) 250-3100 Johnston, IA 50131 3,000 [email protected] Bell Avenue Business Center 41,834 Existing 658,855 $9.75 Denny Elwell Company 1901 Bell Ave 12,719 1953 3 MG Mike Billings, (515) 964-1587 Des Moines, IA 50315 1,725 1966 [email protected] Johnston Station - Office 4,378 Existing 31,750 $12.00 - Denny Elwell Company 5525 Merle Hay Rd 3,778 2005 2 $16.00 Leasing Sales, (515) 964-1587 Johnston, IA 50131 600 NNN [email protected]

SOURCE: Exchange Solutions by Xceligent | annual REAL ESTATE magazine 57 OFFICE for LEASE with total available of 3,100 SF or greater

Northshore Office Building Denny Elwell Company Maxcontiguous Space: 78,000 Building Size: 90,000 4093 NW Urbandale Dr Leasing Sales, (515) 964-1587 Mindivisible Space: 10,000 Number of Floors: 1 Urbandale, IA 50322 [email protected] Contruction State: Existing Lease Rate: $6.00 - $8.00 Year Built: 2001 Lease Type: NNN 78,000 SF Available

Westgate Business Center 4,800 Existing 28,855 $120.00 Denny Elwell Company 710 SE Alice’s Rd 4,800 2003 1 NNN Leasing Sales, (515) 964-1587 Waukee, IA 50263 4,800 [email protected] 3839 Merle Hay Rd 11,398 Existing 46,836 $12.00 Eychaner Properties 3839 Merle Hay Rd 1,766 1962 2 Gross Rich Eychaner, (515) 262-0000x 101 Des Moines, IA 50310 335 2006 [email protected] 5801 Thornton Ave 9,100 Existing 26,849 $4.00 - $7.50 Ferguson Commercial Real Estate Services 5801 Thornton Ave 9,100 2000 1 NNN Mike Macri CCIM, (515) 440-0400 Des Moines, IA 50321 9,100 [email protected] Crossroads Business Park 37,800 Existing 37,800 $8.50 - Ferguson Commercial Real Estate Services 12001 Ridgemont Dr 37,800 2002 1 $11.28 Mike Macri CCIM, (515) 440-0400 Urbandale, IA 50323 7,000 NNN [email protected] Crossroads Business Park 13,710 Existing 75,000 $8.50 Ferguson Commercial Real Estate Services 12000 Ridgemont Dr 13,710 2004 1 NNN Mike Macri CCIM, (515) 440-0400 Urbandale, IA 50323 6,000 2014 [email protected] Deerwood III 4,811 Existing 30,148 $16.50 Ferguson Commercial Real Estate Services 1860 NW 118th St 4,069 2007 2 FSG Craig Crossland, (515) 309-0912 Clive, IA 50325 742 [email protected] Lake Pointe Center 4,272 Existing 22,200 $21.00 - Ferguson Commercial Real Estate Services 13375 University Ave 1,609 1999 3 $24.00 Pat Schneider, (515) 309-0903 Clive, IA 50325 1,093 Gross [email protected] West University Plaza 4,700 Existing 24,850 $7.70 - Ferguson Commercial Real Estate Services 7600 University Ave 2,500 1978 1 $11.00 Craig Crossland, (515) 309-0912 Clive, IA 50325 2,200 NNN [email protected] 3810 Ingersoll Ave 5,720 Existing 5,720 $17.00 - Fleetwood Commercial Real Estate Services 3810 Ingersoll Ave 4,000 1955 2 $18.00 Dean Weitenhagen, (515) 988-8761 Des Moines, IA 50312 1,720 2007 MG [email protected] Walnut Ridge Business Park 16,917 Existing 50,640 $8.50 Greenspon Property Management 3500 109th St 16,917 1995 1 NNN Michael Neary, (515) 202-8502 Urbandale, IA 50322 1,000 [email protected] 1201 Grand Ave 5,378 Existing 11,583 $11.00 Hansen Real Estate Services Inc. 1201 Grand Ave 3,372 1985 2 MG Troy Hansen, (515) 270-9166 West Des Moines, IA 50265 201 [email protected]

4055 Westown Pkwy 30,000 Proposed30,000 Negotiable Hurd Real Estate Services 4055 Westown Pkwy 30,000 2 FSG Richie Hurd, (515) 778-1009 West Des Moines, IA 50266 30,000 [email protected] Mills Crossing 20,000 Proposed35,000 Negotiable Hurd Real Estate Services 587 S 60th St 20,000 4 FSG Richard Hurd, (515) 225-1102 West Des Moines, IA 50266 5,000 [email protected] 1551 SE 3rd St 3,680 Existing 7,360 $18.50 Iowa Realty Commercial 1551 SE 3rd St 3,680 2002 1 Gross Mick Grossman, (515) 222-0000 Grimes, IA 50111 3,680 [email protected] 3809 109th St 3,180 Existing 11,782 $11.95 Iowa Realty Commercial 3809 109th St 3,180 1973 2 FSG John Knapp, (515) 453-5467 Urbandale, IA 50322 730 1990 [email protected] 4685 Merle Hay Rd 7,072 Existing 25,088 $10.00 Iowa Realty Commercial 4685 Merle Hay Rd 2,800 1980 2 FSG Russell Schoenauer, (515) 453-5483 Des Moines, IA 50322 1,800 1993 [email protected] 8665 Harbach Blvd 3,600 Existing 7,200 $12.75 Iowa Realty Commercial 8665 Harbach Blvd 3,600 1976 2 Gross Tom Hudson, (515) 453-5480 Clive, IA 50325 3,600 2005 [email protected] Hickman Hills 3,150 Existing 12,600 $11.43 Iowa Realty Commercial 7025 Hickman Rd 3,150 1988 1 NNN Judy Patterson, (515) 453-5459 Urbandale, IA 50322 1,575 [email protected]

58 annual REAL ESTATE magazine | SOURCE: Exchange Solutions by Xceligent with total available of 3,100 SF or greater OFFICE for LEASE

BUILDING NAME TOTAL AVAILABLE CONSTRUCTION STATE BUILDING SIZE LEASE RATE LISTING COMPANY ADDRESS MAXCONTIGUOUS SPACE YEAR BUILT NUMBER OF LEASE TYPE LISTING AGENT, PHONE CITY, STATE ZIP MINDIVISIBLE SPACE RENOVATED FLOORS EMAIL 6600 Westown Pkwy 4,489 Existing 95,336 $17.00 JLL-Des Moines 6600 Westown Pkwy 3,675 2004 2 NNN Marcus Pitts, (515) 556-4727 West Des Moines, IA 50266 814 [email protected] Century II 25,650 Existing 99,480 $9.50 JLL-Des Moines 1415 28th St 22,201 1986 4 NNN Justin Lossner, (515) 371-0846 West Des Moines, IA 50266 1,532 [email protected]

Century II 25,650 Existing 99,480 $9.50 JLL-Des Moines 1415 28th St 22,201 1986 4 NNN Justin Lossner, (515) 371-0846 West Des Moines, IA 50266 1,532 [email protected] Crescent Chase 41,080 Existing 41,080 $13.00 JLL-Des Moines 8850 NW 62nd Ave 41,080 2008 1 NNN Heath Bullock, (515) 554-7412 Johnston, IA 50131 8,000 [email protected] West Park 14,828 Existing 33,140 $12.75 - JLL-Des Moines 5435 NW 100th St 7,396 2008 4 $14.75 Justin Lossner, (515) 371-0846 Johnston, IA 50131 200 NNN [email protected] Westown Gateway I 9,312 Existing 47,950 $9.00 JLL-Des Moines 1701 48th St 4,011 1986 2 NNN Justin Lossner, (515) 371-0846 West Des Moines, IA 50266 2,649 [email protected] Westown Gateway II 4,311 Existing 47,950 $9.00 JLL-Des Moines 1601 48th St 4,311 1986 2 NNN Justin Lossner, (515) 371-0846 West Des Moines, IA 50266 1,771 2003 [email protected] Westridge II 11,946 Existing 23,232 $8.00 JLL-Des Moines 2929 Westown Pkwy 8,622 1980 2 NNN Justin Lossner, (515) 371-0846 West Des Moines, IA 50266 2,000 [email protected] Westridge III 19,823 Existing 74,832 $9.00 JLL-Des Moines 2829 Westown Pkwy 7,645 1980 3 NNN Justin Lossner, (515) 371-0846 West Des Moines, IA 50266 5,113 [email protected] Woodlands Crossing 20,000 Proposed20,000 Negotiable JLL-Des Moines 12622 Hickman Rd 20,000 1 FSG Heath Bullock, (515) 554-7412 Clive, IA 50325 5,000 [email protected] West Winds Office Condominium 3,323 Existing 51,528 $9.00 Keller Williams-Brad Long 1454 30th St 1,778 1978 2 NNN Brad Long, (515) 334-4900 West Des Moines, IA 50266 1,545 [email protected]

6800 Lake Dr Knapp Properties, Inc Maxcontiguous Space: 6,750 Building Size: 80,414 6800 Lake Dr Ben Garrett, (515) 401-7071 Mindivisible Space: 6,750 Number of Floors: 1 West Des Moines, IA 50266 [email protected] Contruction State: Existing Lease Rate: $10.00 Year Built: 1974 Lease Type: Net 6,750 SF Available

NCMIC Professional Building Bldg 1 8,488 Existing 121,824 $24.00 Knapp Properties, Inc 14001 University Ave 8,488 2002 3 FSG Ben Garrett, (515) 401-7071 Clive, IA 50325 8,488 [email protected] NCMIC Professional Building Bldg 2 45,900 Planned45,900 $18.00 Knapp Properties, Inc 14001 University Ave 45,900 3 Net Ben Garrett, (515) 401-7071 Clive, IA 50325 45,900 [email protected] 5519 NW 88th St Office 5,880 Proposed5,880 $3.20 Landmark Brokerage Services 5519 NW 88th St 5,880 1 NNN Casey Shelton, (515) 402-3001 Johnston, IA 50131 5,880 [email protected] 114th Street Building 3,287 Existing 36,423 $16.50 Margulies Property Management 1370 NW 114th St 2,195 1998 3 FSG Cindy Eggley, (515) 226-9100 Clive, IA 50325 1,092 [email protected] 2850 Westown Pkwy 17,110 Existing 17,110 $7.00 Margulies Property Management 2850 Westown Pkwy 17,110 1993 1 Net Cindy Eggley, (515) 226-9100 West Des Moines, IA 50266 4,000 [email protected] 3805 Lawnwoods Dr 8,648 Existing 8,648 $9.00 MCR | Morton Commercial Real Estate 3805 Lawnwoods Dr 4,324 1973 2 Gross Shannon Morton, (515) 508-1930 Des Moines, IA 50310 1,000 [email protected] 5731 Greendale Rd 4,900 Existing 6,790 $12.75 NAI Optimum 5731 Greendale Rd 4,900 1993 1 NNN Brian Sheriff, (515) 267-7923 Johnston, IA 50131 4,900 [email protected]

SOURCE: Exchange Solutions by Xceligent | annual REAL ESTATE magazine 59 OFFICE for LEASE with total available of 3,100 SF or greater

BUILDING NAME TOTAL AVAILABLE CONSTRUCTION STATE BUILDING SIZE LEASE RATE LISTING COMPANY ADDRESS MAXCONTIGUOUS SPACE YEAR BUILT NUMBER OF LEASE TYPE LISTING AGENT, PHONE CITY, STATE ZIP MINDIVISIBLE SPACE RENOVATED FLOORS EMAIL 70th Street Offices 4,432 Existing 16,700 $11.00 NAI Optimum 6961 University Ave 1,496 1972 2 Gross Keith Olson, (515) 226-8014 Windsor Heights, IA 50324 673 2003 [email protected] 8700 Crescent Chase 30,184 Existing 30,184 $11.95 NAI Optimum 8700 Crescent Chase 30,184 2009 1 NNN Christopher Stafford, (515) 309-6706 Johnston, IA 50131 30,184 [email protected]

8th Street Office Bldg 7,988 Existing 26,264 $11.25 - NAI Optimum 1231 8th St 3,530 1973 2 $13.75 Keith Olson, (515) 226-8014 West Des Moines, IA 50265 682 2003 FSG [email protected] Colby Office Park 7,520 Existing 18,666 $12.50 NAI Optimum 1031 Office Park Rd 3,660 1992 1 Keith Olson, (515) 226-8014 West Des Moines, IA 50265 1,830 [email protected] Colony Park Office Building 15,211 Existing 101,400 $15.00 NAI Optimum 3737 Woodland Ave 10,056 1978 6 FSG Kurt Mumm, (515) 309-6702 West Des Moines, IA 50266 904 [email protected] Mercy Wellness Campus 5,674 Existing 60,862 $15.00 NAI Optimum 12499 University Ave 3,073 2008 2 NNN Matt Lundberg, (515) 225-6395 Clive, IA 50325 2,601 [email protected] Midtown Office Park 12,573 Existing 40,704 $11.00 - NAI Optimum 950 Office Park Rd 7,109 1978 3 $12.50 Keith Olson, (515) 226-8014 West Des Moines, IA 50265 756 FSG [email protected] Midtown Office Park 4,726 Existing 41,460 $11.50 NAI Optimum 1001 Office Park Rd 1,742 1977 3 FSG Keith Olson, (515) 226-8014 West Des Moines, IA 50265 1,392 [email protected] Park Village 11,914 Existing 18,900 $8.00 - $9.00 NAI Optimum 3821 71st St 3,940 1972 2 MG Keith Olson, (515) 226-8014 Urbandale, IA 50322 720 1989 [email protected] Park Village 4,321 Existing 7,200 $8.00 - $9.00 NAI Optimum 7012 Madison Ave 3,601 1974 2 MG Keith Olson, (515) 226-8014 Urbandale, IA 50322 720 [email protected] West Towers Office Building 11,434 Existing 120,804 $12.00 - NAI Optimum 1200 Valley West Dr 2,454 1973 8 $17.00 Kurt Mumm, (515) 309-6702 West Des Moines, IA 50266 1,502 1991 FSG [email protected] Promenade Plaza 4,038 Existing 98,312 $12.00 OMNE Partners 5550 Wild Rose Ln 4,038 2008 4 NNN Jennifer Howell, (515) 223-7885 West Des Moines, IA 50266 4,038 [email protected] Alameda Building 95,000 Proposed95,000 Negotiable R&R Real Estate Advisors 6770 Vista Dr 95,000 3 NNN Paul Rupprecht, (515) 223-4500 West Des Moines, IA 50266 50,000 [email protected]

Augusta Building 16,344 Existing 50,800 $9.75 R&R Real Estate Advisors 7101 Vista Dr 16,344 1994 1 NNN Paul Rupprecht, (515) 223-4500 West Des Moines, IA 50266 6,071 [email protected] Aurora Business Park Bldg 12 8,017 Existing 57,698 $8.25 R&R Real Estate Advisors 11200 Aurora Ave 5,639 1991 1 NNN Paul Rupprecht, (515) 223-4500 Urbandale, IA 50322 2,378 [email protected] Aurora Business Park Bldg 13 3,283 Existing 57,698 $8.25 R&R Real Estate Advisors 11100 Aurora Ave 2,478 1991 1 NNN Paul Rupprecht, (515) 223-4500 Urbandale, IA 50322 805 [email protected] Aurora Business Park Bldg 15 (Apollo Bldg) 11,746 Existing 44,833 $8.25 R&R Real Estate Advisors 4400 SW 114th St 8,972 1993 1 NNN Paul Rupprecht, (515) 223-4500 Urbandale, IA 50322 2,774 [email protected] Aurora Business Park Bldg 2 5,765 Existing 17,625 $8.25 R&R Real Estate Advisors 11071 Aurora Ave 5,765 1986 1 NNN Paul Rupprecht, (515) 223-4500 Urbandale, IA 50322 5,765 [email protected] Aurora Business Park Bldg 5 7,165 Existing 22,534 $8.25 R&R Real Estate Advisors 11101 Aurora Ave 7,165 1988 1 NNN Paul Rupprecht, (515) 223-4500 Urbandale, IA 50322 7,165 [email protected] Brickstone Building 6,902 Existing 31,304 $14.95 R&R Real Estate Advisors 1055 Jordan Creek Pkwy 6,902 2006 2 NNN Paul Rupprecht, (515) 223-4500 West Des Moines, IA 50266 2,000 [email protected]

60 annual REAL ESTATE magazine | SOURCE: Exchange Solutions by Xceligent with total available of 3,100 SF or greater OFFICE for LEASE

BUILDING NAME TOTAL AVAILABLE CONSTRUCTION STATE BUILDING SIZE LEASE RATE LISTING COMPANY ADDRESS MAXCONTIGUOUS SPACE YEAR BUILT NUMBER OF LEASE TYPE LISTING AGENT, PHONE CITY, STATE ZIP MINDIVISIBLE SPACE RENOVATED FLOORS EMAIL Brookview Building 16,029 Existing 60,640 $10.25 R&R Real Estate Advisors 4546 Corporate Dr 11,154 1997 1 NNN Paul Rupprecht, (515) 223-4500 West Des Moines, IA 50266 1,000 [email protected] Century III Office Bldg 24,830 Existing 72,265 $9.25 R&R Real Estate Advisors 2600 Westown Pkwy 16,669 1988 3 NNN Paul Rupprecht, (515) 223-4500 West Des Moines, IA 50266 668 [email protected]

Crestwood Building 4,372 Existing 29,967 $10.25 R&R Real Estate Advisors 4200 Corporate Dr 2,749 1987 1 NNN Paul Rupprecht, (515) 223-4500 West Des Moines, IA 50266 1,623 [email protected] Edgewater Building 6,279 Existing 102,400 $10.25 R&R Real Estate Advisors 4200 University Ave 4,279 1988 4 NNN Paul Rupprecht, (515) 223-4500 West Des Moines, IA 50266 2,000 [email protected] Hawthorne Building 46,764 Existing 46,764 $9.75 R&R Real Estate Advisors 7745 Office Plaza Dr N 46,764 1998 1 NNN Paul Rupprecht, (515) 223-4500 West Des Moines, IA 50266 20,000 [email protected] Highland Building 6,425 Existing 72,637 $10.25 R&R Real Estate Advisors 4201 Westown Pkwy 5,225 1986 3 NNN Paul Rupprecht, (515) 223-4500 West Des Moines, IA 50266 1,200 [email protected] Monterey Bldg 24,450 Existing 48,960 $9.75 R&R Real Estate Advisors 7780 Office Plaza Dr S 24,450 1999 1 NNN Paul Rupprecht, (515) 223-4500 West Des Moines, IA 50266 13,370 [email protected] Monterey Bldg 14,330 Existing 48,960 $9.75 R&R Real Estate Advisors 7780 Office Plaza Dr S 14,330 1999 1 NNN Paul Rupprecht, (515) 223-4500 West Des Moines, IA 50266 14,330 [email protected] Neptune 4,795 Existing 61,430 $10.25 R&R Real Estate Advisors 4401 Westown Pkwy 3,877 1986 3 NNN Paul Rupprecht, (515) 223-4500 West Des Moines, IA 50266 918 [email protected] Neptune 3,088 Existing 61,430 Negotiable R&R Real Estate Advisors 4401 Westown Pkwy 3,088 1986 3 FSG Paul Rupprecht, (515) 223-4500 West Des Moines, IA 50266 3,088 [email protected]

Newport Building R&R Real Estate Advisors Maxcontiguous Space: 50,000 Building Size: 75,000 1075 Jordan Creek Pkwy Paul Rupprecht, (515) 223-4500 Mindivisible Space: 25,000 Number of Floors: 3 West Des Moines, IA 50266 [email protected] Contruction State: U/C Lease Rate: $16.75 Lease Type: NNN 50,000 SF Available

Norwood I Building 9,435 Existing 42,400 $9.75 R&R Real Estate Advisors 7601 Office Plaza Dr 9,435 1996 1 NNN Paul Rupprecht, (515) 223-4500 West Des Moines, IA 50266 4,715 [email protected]

Norwood II Building 6,073 Existing 42,400 $9.75 R&R Real Estate Advisors 7755 Office Plaza Dr N 6,073 1996 1 NNN Paul Rupprecht, (515) 223-4500 West Des Moines, IA 50266 1,000 [email protected] Palisade Building 25,751 Existing 154,863 $10.25 R&R Real Estate Advisors 4900 University Ave 22,136 1985 2 NNN Paul Rupprecht, (515) 223-4500 West Des Moines, IA 50266 3,615 [email protected] Regency West Bldg 1 6,849 Existing 73,200 $10.25 R&R Real Estate Advisors 1501 50th St 3,889 1981 3 NNN Paul Rupprecht, (515) 223-4500 West Des Moines, IA 50266 2,960 2002 [email protected] Regency West Bldg 2 23,477 Existing 73,984 $10.25 R&R Real Estate Advisors 1401 50th St 23,477 1983 3 NNN Paul Rupprecht, (515) 223-4500 West Des Moines, IA 50266 11,694 2001 [email protected] Regency West Bldg 3 11,575 Existing 71,464 $10.25 R&R Real Estate Advisors 4800 Westown Pkwy 5,723 1984 3 NNN Paul Rupprecht, (515) 223-4500 West Des Moines, IA 50266 2,272 1999 [email protected] Regency West Bldg 5 8,018 Existing 72,272 $10.25 R&R Real Estate Advisors 4500 Westown Pkwy 8,018 1986 3 NNN Paul Rupprecht, (515) 223-4500 West Des Moines, IA 50266 1,683 2000 [email protected] Regency West Bldg 7 16,818 Existing 93,350 $10.25 R&R Real Estate Advisors 4400 Westown Pkwy 9,834 1988 4 NNN Paul Rupprecht, (515) 223-4500 West Des Moines, IA 50266 6,934 2002 [email protected]

SOURCE: Exchange Solutions by Xceligent | annual REAL ESTATE magazine 61 OFFICE for LEASE with total available of 3,100 SF or greater

BUILDING NAME TOTAL AVAILABLE CONSTRUCTION STATE BUILDING SIZE LEASE RATE LISTING COMPANY ADDRESS MAXCONTIGUOUS SPACE YEAR BUILT NUMBER OF LEASE TYPE LISTING AGENT, PHONE CITY, STATE ZIP MINDIVISIBLE SPACE RENOVATED FLOORS EMAIL Sonoma Building 12,164 Existing 75,534 $14.25 R&R Real Estate Advisors 1089 Jordan Creek Pkwy 9,750 2005 3 NNN Paul Rupprecht, (515) 223-4500 West Des Moines, IA 50266 2,414 [email protected] Summit Building 9,242 Existing 35,085 $14.25 R&R Real Estate Advisors 1245 Jordan Creek Pkwy 6,970 2003 2 Paul Rupprecht, (515) 223-4500 West Des Moines, IA 50266 2,272 [email protected]

Terrace Place 3,145 Existing 51,058 $9.00 - $9.50 R&R Real Estate Advisors 2600 Grand Ave 1,990 1987 4 NNN Paul Rupprecht, (515) 223-4500 Des Moines, IA 50312 1,155 2003 [email protected] Veridian Building 8,043 Existing 78,115 $10.25 R&R Real Estate Advisors 4601 Westown Pkwy 6,331 1988 3 NNN Paul Rupprecht, (515) 223-4500 West Des Moines, IA 50266 1,712 [email protected] Wedgewood Building 4,048 Existing 51,400 $10.25 R&R Real Estate Advisors 6901 Vista Dr 2,322 1992 1 NNN Paul Rupprecht, (515) 223-4500 West Des Moines, IA 50266 591 [email protected] Westfield 160,000 Planned160,000 Negotiable R&R Real Estate Advisors 1080 Jordan Creek Pkwy 160,000 3 NNN Paul Rupprecht, (515) 223-4500 West Des Moines, IA 50266 160,000 [email protected] Promenade Plaza 5,000 Existing 98,312 $1.40 - Regus-Des Moines 5550 Wild Rose Ln 5,000 2008 4 $12.00 Lori Aldinger, (515) 661-6103 West Des Moines, IA 50266 85 FSG [email protected]

12035 University Ave Signature Commercial-Clive Maxcontiguous Space: 3,742 Building Size: 12,750 12035 University Ave Andy Hodges, (515) 221-9990 Mindivisible Space: 3,742 Number of Floors: 2 Clive, IA 50325 [email protected] Contruction State: Existing Lease Rate: $20.50 Year Built: 2003 Lease Type: MG 3,742 SF Available

600 Holcomb Ave 8,500 Existing 56,788 $7.50 Signature Resources-Century 21 Signature Real Est 600 Holcomb Ave 8,500 1979 2 Gross Ethan Hokel, (865) 801-1887 Des Moines, IA 50313 8,500 2008 [email protected] 16349 Sheridan Ave 3,246 Proposed4,485 $16.00 Stanbrough Realty Company 16349 Sheridan Ave 3,246 1 NNN Eric J. Grubb, CCIM, (515) 975-7441 Clive, IA 50325 804 [email protected] The Galleria 7,804 Existing 26,168 $8.00 Stanbrough Realty Company 4090 Westown Pkwy 7,804 1988 1 NNN Jeff Stanbrough CCIM, CPM, (515) 334-3345 West Des Moines, IA 50266 1,000 [email protected] Jordan Creek Business Condos 5,318 Existing 30,800 $14.50 Sue Clark Real Estate Services 6150 Village View Dr 3,384 2007 1 MG Julie Brown, (515) 321-3812 West Des Moines, IA 50266 1,450 [email protected]

Talon at Westown 18,513 Existing 33,120 $12.50 - T&L Properties 2910 Westown Pkwy 10,345 1983 3 $13.00 Matt Guns, (515) 999-8096 West Des Moines, IA 50266 1,623 [email protected] Plaza West Office Complex 3,122 Existing 15,220 $11.00 Terrus Real Estate Group, LLC 8345 University Blvd 3,122 1968 1 MG Sherri Goode, (515) 471-4310 Clive, IA 50325 3,122 1986 [email protected] Offices at Galleria 34,500 Proposed35,000 Negotiable The Siedenburg Group-Des Moines 645 S 60th St 34,500 3 FSG Douglas Siedenburg, (515) 223-6222 West Des Moines, IA 50265 8,000 [email protected] Cummins Mansion 4,832 Existing 6,295 $14.00 Xceligent Inc-Greater Iowa 2404 Forest Dr 2,612 1884 3 Gross Research Pending, (816) 303-5300 Des Moines, IA 50312 2,220 [email protected]

62 annual REAL ESTATE magazine | SOURCE: Exchange Solutions by Xceligent Xceligent is Des Moines’ Building Data Source.

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XCELIGENT.COM Where do you see retail headed in western suburbs, a ton downtown, 2017 in Greater Des Moines? the eastern suburbs. They’re prolific. THEEXPERTS There was a period of time in the RICH EYCHANER Rich Eychaner: I think it’ll be a lot aftermath of the Great Recession where it was really hard to finance owner, Eychaner Properties of caution. I think that there are unknowns right now. I think good construction of a retail center. Those retail space is good retail space and restrictions seem to have loosened a COLLEEN JOHNSON will always be good retail space, but lot when we’re seeing this much new vice president, I think there are a lot of marginal construction. CBRE|Hubbell Commercial retail spaces as well. Retailers and contractors and developers need to Does it remind you of 2006? CHRISTOPHER STAFFORD be very cautious as to what they put Johnson: Hopefully not. I think a where. I think there’s more, certainly lot of other things have come back director and senior vice art, certainly science in retail. I a lot. We’re seeing such growth in president, NAI Optimum remember when Jordan Creek (Town the office market and humongous Center) was first proposed and was growth in the residential market. MODERATORS going to be a small little mall, and Retailers don’t lead the way. They eventually became a giant mall, and follow all of that other kind of KENT DARR then people said, “Well, it’s not going growth. It can be multifamily, it can senior staff writer to kill retail all over the community.” be office, it can be single-family. Well, there’s going to be 300,000 They follow it. To the extent that square feet of retail built every year. these new centers get leased up, I They never told anybody that all of think we’re seeing them follow what that 300,000 feet was going to be other kinds of growth are going on around Jordan Creek mall. We had in the market. a 10-year period of time where very little retail was built around the city Christopher Stafford: On a macro because Jordan Creek sucked up all level, I think we’re in the midst of that stuff. My philosophy has always seeing retail change very drastically. been wherever everybody else is Landlords and retailers both are going I want to go the opposite having to reinvent themselves and direction, so I found some niches to figure out who they are and what do that with. My word for 2017 and they want to be when they grow up. 2018 is caution. There’s a number of retailers that are currently contracting, Colleen Johnson: That having been being conglomerated by different said, right now there are still about companies into one thing. I think 30 new retail centers being built you’re going to continue to see around the city that are either under bricks-and-mortar space size construction and doing pre-leasing, diminish. You’re going to continue or just up or proposed and doing to see e-commerce play a very pre-leasing, so we’re seeing people important part in retail. I think market retail space, small retail you’re going to hear us probably talk centers, multi-tenant retail centers, about millennials today, which is and they’re on every corner of the driving a lot of retail on a very macro greater metropolitan area. The level. Retailers are trying to change

64 annual REAL ESTATE magazine RETAIL ROUNDTABLE Q&A PATIENCE RULES RETAIL BY KENT DARR

annual REAL ESTATE magazine 65 RETAIL: KEY POINTS

FOOTLOOSE AND FANCY FREE LENDERS MORE WILLING TO JORDAN CREEK AREA HAS Oh, to be young again, if you aren’t LOOK AT RETAIL PROJECTS EXCEEDED EXPECTATIONS at the moment. The growth of Greater *URZWKLQWKHRIŵFHDQGUHVLGHQWLDO A couple members of our panel Des Moines has brought changes markets has prompted some lenders agreed that the retail universe that might make some of us geezers WRWDNHDVRIWHUYLHZRIŵQDQFLQJUHWDLO around Jordan Creek Town Center is ŏXVH\RXURZQGHŵQLWLRQŏ\HDUQIRU projects. The evidence is the number a “black hole” that attracts all retail the days of our youth when living of retail centers that are in some prospects. That is a good thing, in the good old days didn’t exactly stage of development — preplanning, because the West Des Moines retail describe living in Des Moines. construction and leasing, pre-leasing. colossus has proved to national New neighborhoods have evolved, Coming out of the Great Recession, brands that Greater Des Moines especially in downtown; there are those projects would have been is worth taking a chance on. To more entertainment options; we are GLIŵFXOWWRŵQDQFH5HWDLOGRHVQRW a person, our panelists said that a more diverse population. We’re lead the lending parade, our panelists growth around the mall has occurred certainly improving with age. said, but follows growth in other at a more rapid pace than originally segments of the economy. anticipated. “No tenant rep ever got ŵUHGIRUORFDWLQJQHDU-RUGDQ&UHHNŔ one panelist said.

quickly to stay up with and meet this. They look very carefully of as retail; they’re not building that bar, and we’ll find out if that’s at how many people are in an mini-Younkers somewhere. So when achievable. Bricks and mortar is area, how much competition is we say retail, it’s not what we would definitely a piece of the conversation. in the area. Where is the niche? have talked about 20 years ago. The landscape has really changed (Hubbell Realty Co. is) marketing, and will continue to do that over for example, Cityville, in the Stafford: To Rich’s point, you really the next 12 to 18 months; there’s River Point West neighborhood in have to zero in if you’re a developer that level of uncertainty with a new southwest downtown Des Moines. or landlord. What type of tenant presidency, too. Fortunately for the retailers, they are you trying to attract? Is it going don’t have much competition in to be a national credit tenant that that neighborhood and we’ve got can pay your top-of-the-line rent? I have a question on the 30 or 40 a growing population there, but Is it what would be considered smaller retail centers that are in if you go into East Village, or the a regional tenant that is in that various stages of development. central business district, or the mid-tier with some stores in the How do they differentiate heart of Windsor Heights, that’s a Midwest, or will it be a local ma and themselves, and do they need to different analysis for them, because pa retailer that’s going to be found differentiate themselves? Is it all while there’s growth, and while probably in Central Iowa with two location? there’s a significant demographic in or three stores, and that’s probably Johnson: I think it is location, those, there’s also a fair amount of about it. By attrition, you’re going to location, location when it comes competition that already exists. have developments that are spurred to multi-tenant retail centers. It by being on the best corner with the probably isn’t the developers who best traffic by a stop light with good are going to determine that, but Are rising construction and labor access. That’s where the national the retailers themselves. You have costs slowing retail growth? retailers want to be, and because of a target group of retailers that you Eychaner: You do your math and it’s that demand, you have then another would like to see in your center, not hard to figure out what you set of demands that’s a different but they’re going to tell you if that need to get per square foot. The set of retailers, and that’s when you customer demographic is there or other thing that Colleen alluded to start getting, in my opinion, these not, and most retailers have gotten to is that for a neighborhood center, other retail centers that are filling a be very sophisticated in slicing and you’re looking at restaurants, niche in the marketplace. dicing that retail demographic and you’re looking at personal care. analyzing who they’re going to serve. Suntan, nails, hair. People aren’t It’s a little bit different with building shoe stores. They’re not national retailers. They’re going building paint stores, they’re not to look very carefully; even building hardware stores, they’re entrepreneurial locals will do not building what we used to think

66 annual REAL ESTATE magazine PATIENCE IS A VIRTUE HY-VEE AS A HARBINGER OF Whether you’re trying to attract retail in THINGS TO COME IN a glitzy outlet mall in Altoona, at a busy DOWNTOWN DES MOINES street corner in downtown Des Moines Want an idea of where downtown or in a lively corridor along Ingersoll retail is headed? Just follow the Avenue, the ability to wait and watch fortunes of the Hy-Vee at Fourth as needs and trends become obvious Street and Court Avenue over the should be listed at the top of your list next one to two years. The grocery of strengths. That takes money, for behemoth can be nothing if not sure, but just as important is a huge creative, and odds are it will signal measure of ingenuity. Our panelists what can and can’t work. Will the agreed that local developers are a store’s customer base be made up of creative bunch. And that’s a good thing, downtown residents or downtown because by and large the retailers are workers? The Hy-Vee should help looking for the developers, not the GHŵQHWKHGRZQWRZQPDUNHW other way around.

RICH EYCHANER

Does retail just inherently carry How did you approach the 300 more risk? MLK project in terms of the kinds Eychaner: I think it depends on what of tenants you wanted? your objectives are and who your Eychaner: That was a project I lender is, and what their portfolio already had an investment in, in looks like. I like retail because I get the real estate, for 15 years. There five-year leases, ten-year leases. was too much building on the site. I look at residential and say, “I’m It was a square-block site. It had going to have a one-year lease, and I 110,000 square feet of industrial gotta fill those apartments back up space. It did not lend itself to (after the leases expire)? No.” residential. Some of the other Colleen makes a living doing owners had worked on a residential that. I don’t. It scares me to death program and we’d come up with a to think that my tenant may be number of, like, $22 million to put COLLEEN JOHNSON gone in a year and I have another 22 apartments into a space and 29 years to pay that mortgage. So have first-floor retail. I’m looking in my mind, retail’s easier because at it saying, that’s nuts. Why would I get a longer-term lease. They’re you spend $22 million to have an $8 not just moving in because it’s the million building when you get done? new building and then next month Even if the government gives you they’ll move on to another building money, it doesn’t make any sense. and keep going. Eventually I determined that Obviously from a lender they’re what we needed to do was tear down going to look at it differently and half the building, so we pared off 100 there are different sources of funds years of additional attachments to for lenders that will do different the original two tower buildings and things. You get some federal housing restored those. We also did not look proposals, you get a subsidy that’s to the city for development money, been put into the project, and you because we did not want to have can move those numbers around a someone else determine what they CHRISTOPHER STAFFORD little bit. thought would work in the project. It’s my name on it alone; I wanted to make sure I was making the decisions. We ended up with a project that works for the retailers.

annual REAL ESTATE magazine 67 Regarding city of Des Moines you’ve got to be careful on those you the retailer, are you the office incentives, if you do a multifamily projects, and there are a lot of really user who fits that vision and then project in downtown Des Moines, creative projects that sit for years makes it happen? Altoona’s exactly the city wants retail under it. Does before they pay off, if they’re ahead the same. that work? of their time. You have to be very careful with that. Johnson: I think it works in What is the significance of the certain neighborhoods, and outlet mall in Altoona? I think it’s working in our Are there any sleeper areas downtown neighborhoods. We have around town? Stafford: My hope for the outlet malls incredible, distinctive downtown in Altoona is that the next group of neighborhoods in Des Moines, and Stafford: The obvious ones are the stores that they announce are names it’s been fun over the last five, 10 big ones happening today. You have we haven’t seen, or are attractions years to watch those neighborhoods Grimes, you have Kettlestone, that’s so that continues to build that area. grow and evolve. I think that always still under the radar with a lot of To your question, I think there is works there, because I think the things coming on just on the west still a little bit to be answered in people who are moving downtown, side of town. You’ve got Norwalk terms of what it becomes but you’re that’s exactly what they’re seeking. on the south side, so I think you’re starting to see a synergy out there They own cars, they need a place going to see those other pockets that with the outlets, with Bass Pro, with to park a car, we’ve found, every haven’t developed, that we haven’t Adventureland, with the casino. one of them does. But on the other started to hear about, in the next Mike Whalen’s got a lot of activity hand, they want to leave those cars five to 10 years. I think Waukee is on the ground surrounding the parked, as much as possible. going to be a very different place outlets that he still owns. He has a You take the East Village, which ... it’s just what Altoona was five to new hotel, and a restaurant. has wonderful new structures. 10 years ago as well. It’s going to be Incredible, beautiful structures, and driven by retailers, it’s going to be Eychaner: I think sometimes people also those wonderful conversions of driven by traffic ... and really the and government don’t understand those old warehouses. That eclectic retailers are going to tell you where the timelines. They are getting feel that has drawn great eateries, they want to (be located). paid every day, but the developer, high-end, low-end, fast, but also the retailer, they gotta get paid that’s what has drawn the Valley Johnson: Really, all of these areas, today. They gotta put something Junction kind of entrepreneurial they’re really driven first by a up and have money coming in, and apparel stores and home-goods vision; the city leaders in those that’s the challenge for retail, I stores. It’s a place where you can go areas have to have a vision. I always think, is getting over that hump out and walk and shop all day long. go back to the Gateway. It used between what it can become from Take your family, eat, go to festivals. to be when you’d pick up clients what it is today. It’s that kind of a neighborhood. from the airport and you wanted In my case at 300 MLK, I to take them downtown, you’d try needed parking. I think the best Eychaner: I’m very high on East to distract them so they wouldn’t business to be in for the next five Village. You can look at the quality look around and see what was there. years in downtown Des Moines is of the buildings. The challenges are But somebody had a vision for the Crow Tow. I think they’re going to that the people who made the East Gateway, and in a sense it almost make so much money towing cars Village are mom and pops who don’t happened overnight when it went that are trying to park in places have much money. It’s the Blazing from a very rough, downtrodden that they’re not supposed to park, Saddles, it’s the Locust Taps, it’s warehouse district to one of the true that they’ve got a growth industry the people who’ve been there for 35 gems of our city. That’s one of the coming up. years and now they’re going to get first places you want to take people. You’ve got to be very patient, crowded out because the money is Somebody had a vision for that. you have to have money, you have going to be available to get bigger Then the lenders and the to have very insightful people who projects. developers can rally around that can find a way to make money in You drive down East Sixth vision, Waukee with Kettlestone those locations as they get better Street all the way down to the river is very much that kind of thing; and better and then the regional, and you’ve got a wonderful quarter it’s amazing the plan that they put national potential comes in on top developing there. Mike Nelson’s got together. You can’t just put your of them and sometimes drives them a project going on the east side of land up for sale and have somebody out. The problem of gentrification of the Rowat Cut Stone spot, and East figure out, “What can I put there? spaces is sometimes little guys can’t Sixth is going to be a tremendous What would work here?” Kettlestone afford to compete over time, but corridor. It’s tough being the is a laid-out vision. You have to they’re absolutely necessary to get pioneer; you get the arrows. So decide: Are you the developer, are off the ground and to get going.

68 annual REAL ESTATE magazine Stafford: Would you both agree, the size of market, you’re going to be in our downtown neighborhoods and Jordan Creek area in 10 years has Jordan Creek. enjoying what’s happening and enjoying it for what it really is. probably gone a lot better than we That is a great point. Each Stafford: I think what’s to be celebrated would have anticipated? retailer is different. They’re going is the downtown corporate to say this is a five-store market, a Eychaner: I agree with you on the campuses, the growing population, one-store market; that’s how you amount of growth, but I also think the entertainments that are map out the area. If it’s a one-store about those original people there at coming in that will continue to market, you’re definitely going to West Glen Town Center. What was draw people from the outside of Jordan Creek ... but what I would it, the first 22 retailers went out of the area for weekends. business? There’s a very high cost say about Jordan Creek is it’s now to pay, and when you’re the person a much easier conversation to Eychaner: I certainly agree with putting your dollars into that talk about Des Moines. You can what Christopher and Colleen have investment, you’ve got to think very name some of those retailers and said. I think what I like about Des carefully. Is this ready for what get retailers’ attention, because Moines right now: I wish I were 40 I’m doing, and are there enough you can say Whole Foods. You can years younger; it’s a fun place to people to do what I do? I mean, say Nordstrom Rack. You can say live. There are so many different development’s not a smooth thing. Container Store. You can say REI. neighborhoods you can go to It’s going like this all the time. You can go up and down, and now. It’s not a homogenous place then, “Oh, yeah. If they’re there, it anymore like we might have thought Johnson: I remember in the early must be worth my time to take a it was 20, 30 years ago. You can have days of knowing that Jordan Creek look.” And then you can have the a very different experience for that Town Center was going to be built, other conversation about the other night or that weekend or whatever sitting in meeting after meeting parts of town. That’s something day it is. of planning and zoning and city that we didn’t have before Jordan councils and people were talking Creek. It was a struggle. I would about, “There’s probably going to say it’s gotten easier to have that be 300,000 square feet of collateral conversation. retail built around here.” Instead, there’s about 2 million square feet of Johnson: It opens the door. When we collateral retail, with more coming. used to call on national retailers, I absolutely agree with Christopher years ago, if you could get a call that the development has gone back about Des Moines, Iowa, it was way beyond what most people frequently a very short conversation. envisioned, and that kind of demand We were not on their radar screen just creates more demand. 10 years ago, and we are today.

It’s a black hole that Eychaner: What is one final thought you have keeps getting bigger and bigger about the retail market? and bigger and bigger and sucks people into it. Stafford: I think collectively downtown, Greater Des Moines, Johnson: That’s right. We haven’t seen the end of what’s going to the Central Iowa region have happen around Jordan Creek. really done a nice job. Our developers are a creative group of folks. Everybody plays very well One thing I’ve wondered, too, together, and that’s really created is whether retail elsewhere, an environment, at least on the especially along Highway 5, has retail side, that I think is enjoyable recovered from Jordan Creek. to work in. Everybody is cordial Eychaner: Certainly Altoona and ... and really promotes opportunities East Village and downtown give you for development. some indication that it’s recovering. As a closing, I just think it’s a Jordan Creek’s just so powerful of a great place to live, work and play, draw. ... It’s the big guy in the room, and something that from a retail side and you don’t cross the big guy in will continue to push the envelope. the room. Johnson: Well, I certainly would Johnson: And if you’re a one-store- agree with that, and I think that per-market kind of retailer for this we just need to keep looking at

annual REAL ESTATE magazine 69 RETAILSPACE

This map illustrates how the retail listings are Due to space constraints, not all commercial classified according to location. The individual real estate properties are listed. Listings have districts have been identified by the Xceligent been cut by minimum space requirements as Retail Advisory Board and are specific to the identified at the top of each list. retail category. Many business parks have multiple buildings Only cities in the Greater Des Moines and/or lots available. Due to space constraints, metropolitan area are included in this guide some of these listings were condensed. For (as defined by the Chambers of Commerce/ complete information on any given property, Organizations that are affiliates of the Greater please contact the listing agent. Des Moines Partnership). All listing data is provided by Xceligent, Listings are grouped by location corresponding specializing in commercial real estate. to the map districts. Corrections need to be communicated to Xceligent directly.

70 annual REAL ESTATE magazine | SOURCE: Exchange Solutions by Xceligent with total available of 4,000 SF or greater RETAIL for SALE

BUILDING NAME TOTAL AVAILABLE CONSTRUCTION STATE BUILDING SIZE SALE PRICE LISTING COMPANY ADDRESS YEAR BUILT NUMBER OF LISTING AGENT, PHONE CITY, STATE ZIP RENOVATED FLOORS EMAIL Ankeny

Georgetown Plaza 23,343 Existing 23,343 $2,850,000 Buyer’s Realty, Inc. 1975 N Ankeny Blvd 2006 1 Mike Cunningham, (515) 277-4000 Ankeny, IA 50023 [email protected] Central Business District

212 E 3rd St 10,560 Existing 10,560 $350,000 Ferguson Commercial Real Estate Services 212 E 3rd St 1906 2 Ben Brackett, (515) 309-0918 Des Moines, IA 50309 [email protected] Northeast

120 8th St SE 11,200 Existing 11,200 $650,000 CBRE|Hubbell Commercial 120 8th St SE 1959 1 Josh Masters, (515) 221-6674 Altoona, IA 50009 2001 [email protected] Advance Auto Center 22,406 Existing 22,406 $773,000 Hanley Investment Gr-Corona del Mar NonMember 2525 Easton Blvd 1973 1 Jeremy McChesney, (949) 585-7671 Des Moines, IA 50317 1993 [email protected] Royal Flush 4,880 Existing 4,880 $425,000 Iowa Realty Commercial 4440 Hubbell Ave 2000 1 Jordan Bouslog, (515) 453-5473 Des Moines, IA 50317 [email protected] Prairie Cove 33,435 Existing 33,435 $5,100,000 JLL-Des Moines 3160 8th St SW 1999 1 Justin Lossner, (515) 371-0846 Altoona, IA 50009 [email protected] Foxton Village 20,316 Existing 20,316 $2,750,000 Tessau Realty 1003 8th St SW 2006 1 Angela Tessau, (515) 707-6889 Altoona, IA 50009 [email protected] Northwest

6900 Hickman Rd 8,166 Existing 8,166 $599,000 CBRE|Hubbell Commercial 6800 Hickman Rd 1991 1 Marty Herrmann, (515) 221-6653 Windsor Heights, IA 50324 [email protected]

Cash Saver’s CBRE|Hubbell Commercial Construction State: Existing 15500 Hickman Rd Riley Hogan, (515) 221-6683 Year Built: 2003 Clive, IA 50325 [email protected] Building Size: 64,984 Number of Floors: 1 64,984 SF Available Sale Price: $5,750,000

Franklin Ave Portfolio Sale 56,513 Existing 56,513 $1,985,000 CBRE|Hubbell Commercial 4944 Franklin Ave 1953 3 Marty Herrmann, (515) 221-6653 Des Moines, IA 50310 [email protected] Franklin Plaza 25,187 Existing 25,187 Negotiable CBRE|Hubbell Commercial 4922 Franklin Ave 1953 1 Marty Herrmann, (515) 221-6653 Des Moines, IA 50310 1986 [email protected] Harding Hills Shopping Center 25,061 Existing 25,596 $1,850,000 CBRE|Hubbell Commercial 3420 Martin Luther King Pkwy 1986 1 Bill Wright, (515) 221-6672 Des Moines, IA 50310 [email protected] 1900 NW 86th St 11,592 Existing 11,592 $1,050,000 Hansen Real Estate Services Inc. 1900 NW 86th St 1991 1 Troy Hansen, (515) 270-9166 Clive, IA 50325 [email protected] 1452-1456 2nd Ave 7,500 Existing 7,500 $400,000 Iowa Realty Commercial 1452 2nd Ave 1969 1 Mick Grossman, (515) 222-0000 Des Moines, IA 50314 2004 [email protected] Slumberland Furniture 38,400 Existing 38,400 Negotiable Knapp Properties, Inc 8800 Hickman Rd 1965 1 Ben Garrett, (515) 401-7071 Clive, IA 50325 [email protected]

SOURCE: Exchange Solutions by Xceligent | annual REAL ESTATE magazine 71 RETAIL for SALE with total available of 4,000 SF or greater

BUILDING NAME TOTAL AVAILABLE CONSTRUCTION STATE BUILDING SIZE SALE PRICE LISTING COMPANY ADDRESS YEAR BUILT NUMBER OF LISTING AGENT, PHONE CITY, STATE ZIP RENOVATED FLOORS EMAIL 1212-1216 Euclid Ave Portfolio Sale 4,561 Existing 4,561 Negotiable Signature Resources-Century 21 Signature Real Est 1212 Euclid Ave 1948 1 Ethan Hokel, (865) 801-1887 Des Moines, IA 50313 1994 [email protected] 4531-4537 86th St 11,094 Existing 11,094 $1,350,000 Stanbrough Realty Company 4531 86th St 1993 1 Jeff Stanbrough CCIM, CPM, (515) 334-3345 Urbandale, IA 50322 [email protected]

Twin Eagles Plaza Portfolio 13,139 Existing13,139 $1,580,000 The Siedenburg Group-Des Moines 3941 100th St 1 Douglas Siedenburg, (515) 223-6222 Urbandale, IA 50322 [email protected] Adam Ridge 10,000 Proposed10,000 Negotiable Stanbrough Realty Company 10015 NW 61st Ave 1 Eric J. Grubb, CCIM, (515) 975-7441 Johnston, IA 50131 [email protected] Southeast

2951 E Walnut St 4,796 Existing 9,592 $300,000 Denny Elwell Company 2951 E Walnut St 1895 2 Amy Hinners, (515) 964-1587 Des Moines, IA 50317 1997 [email protected] 116 E Ashland Ave 8,160 Existing 8,160 $289,000 EXIT Realty North Star 116 E Ashland Ave 1960 1 Terry Pauling, (515) 962-5686 Indianola, IA 50125 [email protected] 1214 N Jefferson Way 10,013 Existing 10,013 $1,918,000 Hanley Investment Gr-Corona del Mar NonMember 1214 N Jefferson Way 2010 1 Eric Wohl, (949) 585-7673 Indianola, IA 50125 [email protected] 228 E Army Post Rd 6,810 Existing 6,810 $375,000 NAI Optimum 228 E Army Post Rd 1984 1 Matt Lundberg, (515) 225-6395 Des Moines, IA 50315 [email protected] Southwest

2037 Grand Ave 6,250 Existing 6,250 Negotiable Connolly Realty Group 2037 Grand Ave 1995 1 Matt Connolly, (515) 975-9600 West Des Moines, IA 50266 [email protected] 2037-2045 Grand Ave Portfolio Sale 23,050 Existing 23,050 $1,670,000 Connolly Realty Group 2037 Grand Ave 1993 1 Matt Connolly, (515) 975-9600 West Des Moines, IA 50265 [email protected] Southport Center 8,636 Existing 8,636 $595,000 Denny Elwell Company 1103 E Army Post Rd 1970 1 Carson Hughes, (515) 964-1587 Des Moines, IA 50315 1989 [email protected]

4055 Westown Pkwy 6,068 Existing 6,068 $1,485,000 Hurd Real Estate Services 4055 Westown Pkwy 1996 1 Richie Hurd, (515) 778-1009 West Des Moines, IA 50266 [email protected] 1000-1020 Army Post Rd Portfolio Sale 9,000 Existing 9,000 $759,000 Iowa Realty Commercial 1000 Army Post Rd 2000 1 Tom Hudson, (515) 453-5480 Des Moines, IA 50315 [email protected] 1040 Hoak Dr 16,620 Existing 16,620 $945,000 Iowa Realty Commercial 1040 Hoak Dr 1970 1 Mick Grossman, (515) 222-0000 West Des Moines, IA 50265 1981 [email protected] Airport Plaza on 63rd 28,992 Existing 28,992 Negotiable Iowa Realty Commercial 6151 Thornton Ave 2000 1 Mick Grossman, (515) 222-0000 Des Moines, IA 50321 [email protected] 3704 Ingersoll Ave 4,863 Existing 4,863 $599,000 MCR | Morton Commercial Real Estate 3704 Ingersoll Ave 1954 2 Shannon Morton, (515) 508-1930 Des Moines, IA 50312 [email protected]

Val Air Ballroom NAI Optimum Construction State: Existing 301 Ashworth Rd Collin Nelson, (515) 249-4678 Year Built/Renovated: 1955/1961 West Des Moines, IA 50265 [email protected] Building Size: 30,956 Number of Floors: 1 30,956 SF Available Sale Price: $2,595,000

72 annual REAL ESTATE magazine | SOURCE: Exchange Solutions by Xceligent LANDSCAPE ARCHITECTURE URBAN DESIGN PLANNING

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DEVELOPER MORE COMPETITION Des Moines strengths are attracting outside investors and developers.

IMPACT: Real Estate development is a highly Financing is readily available, and some lenders competitive and highly regulated business. The market appear to be as aggressive as pre-recession lending is thriving in a variety of different directions. as they try to fill their demand for new loans. Construction costs continue to increase, specifically in In the multifamily arena, activity is surpassing pre- lumber products, as uncertainty continues over trade recession levels with a heavy emphasis on downtown agreements. A continued shortage of skilled labor has and the western suburbs. In 2016 we saw a large influx had a significant impact on construction schedules. of downtown housing, and it will continue into 2017. Rental rates for office and retail space are increasing, Overall, the outlook for development appears strong while apartment and warehouse construction with a few “storm clouds” on the horizon. Listening continues to boom. and responding to client and consumer needs is imperative to growth in the market and provides a An active and well-publicized market also means a great opportunity for more innovative options. more competitive market. As word has spread about the growth and activity in the Des Moines market, we WAY TOO EARLY PREDICTION: have attracted many outside investors and developers. In 10 years… the housing demand over the next decade will be notably higher than it is now. Rising population This can make for a crowded and competitive space and jobs will be the principal drivers of this. The but ultimately, it encourages the local development millennial market continues to grow, which means our community to up their game and respond to the market for first-time home buyers will follow suit. competition.

RICK TOLLAKSON President & CEO, Hubbell Realty Company

74 annual REAL ESTATE magazine ECONOMIC DEVELOPMENT DEVELOPER URBAN-TYPE I WANT IT NOW... ACCESSIBILITY BUT WHATEVER American consumers are, more and more, IN SUBURBAN AREAS expecting to receive almost immediate Retail and dining options will be close gratiﬁcation of their needs if not wants, in proximity to residential sites in but there is ambivalence about service suburban areas. quality among many of them.

IMPACT: A trend that seems to be on the horizon is that IMPACT: Amazon, Walmart, and multi-channel retailers developers are aiming to create urban-type feels in are causing expectations of next-hour delivery of orders suburban environments. being placed online. This is a trend that will continue to grow and be utilized among mature consumers. This includes building retail and dining destinations within walkable distances of multi- However the focus on speed of delivery is allowing the family residential sites. The residential and level of quality expectations to decline, particularly commercial would not necessarily be in the same among Millennials, perhaps because they have buildings, but in close proximity. not experienced high quality in service industries, especially restaurants. In fact, in Waukee's Kettlestone Development, the walkability factor will go beyond multifamily This may be the result of a shortage of workers but housing; single-family dwellers will also eventually it may also be the result of an abundance of retail be able to access retail and dining opportunities via space available and a willingness of landlords to the Kettlestone trail system. provide capital to unqualified operators rather than let their space remain vacant. If there is growth Many of the residents residing within, or near, in the economy, this low level of service may be Kettlestone could also utilize the trails and sufficient for success. greenspaces on their way to work each day, as office developments begin to pop up as well. WAY TOO EARLY PREDICTION: In 10 years... the percentage of user owned I think we will start to see more and more of this households will see significant declines even in mid- commercial/residential integration, and it could bring a sized Midwestern cities such as Des Moines because holistic, convenient amenity to users. low savings combined with lack of appreciation in values will prevent more people from having the WAY TOO EARLY PREDICTION: required equity to purchase a home. In 10 years... we may be looking at things like driverless cars and even more of a need for green projects. The city of Waukee in particular is beginning work on "Imagine Waukee 2040" - a STEVE SCOTT new comprehensive plan to strategize for future Senior vice president and director, adaptations related to transportation, environmental NAI Optimum impacts and growth.

DAN DUTCHER Community and economic development director, City of Waukee

annual REAL ESTATE magazine 75 RETAIL for LEASE with total available of 1,900 SF or greater

Georgetown Plaza 3,341 Existing 23,343 $14.50 Buyer’s Realty, Inc. 1975 N Ankeny Blvd 2,044 2006 1 NNN Mike Cunningham, (515) 277-4000 Ankeny, IA 50023 1,297 [email protected]

Prairie Park Plaza 3,329 Existing 9,076 $18.00 - Buyer’s Realty, Inc. 1810 SW Plaza Shops Ln 1,173 2014 1 $22.00 Mike Cunningham, (515) 277-4000 Ankeny, IA 50023 1,078 NNN [email protected] 1380 NE 66th Ave 4,886 Existing 4,886 $10.00 CBRE|Hubbell Commercial 1380 NE 66th Ave 4,886 1985 1 Gross Tyler Dingel, (515) 221-6662 Ankeny, IA 50023 4,886 [email protected] Campus Town 3,670 Existing 13,650 $18.00 CBRE|Hubbell Commercial 1210 SW 28th St 2,970 2014 5 NNN Ajdin Nadarevic, (515) 221-6684 Ankeny, IA 50023 700 [email protected] 110 N Ankeny Blvd 7,460 Existing 36,340 $13.25 - Denny Elwell Company 110 N Ankeny Blvd 3,119 1975 1 $18.00 Leasing Sales, (515) 964-1587 Ankeny, IA 50021 1,505 2006 NNN [email protected]

1802 N Ankeny Blvd Denny Elwell Company Maxcontiguous Space: 26,000 Building Size: 66,643 1802 N Ankeny Blvd Leasing Sales, (515) 964-1587 Mindivisible Space: 10,000 Number of Floors: 1 Ankeny, IA 50023 [email protected] Contruction State: Existing Lease Rate: $8.00 Year Built: 2005 Lease Type: NNN 26,000 SF Available

1875 N Ankeny Boulevard 8,400 U/C10,220 $18.00 Denny Elwell Company 1875 N Ankeny Boulevard 3,767 1 NNN Darcy Gill, (515) 964-1587 Ankeny, IA 50023 1,531 [email protected] 801 S Ankeny Blvd 13,400 Existing 28,744 $7.50 Denny Elwell Company 801 S Ankeny Blvd 13,400 1967 1 NNN Leasing Sales, (515) 964-1587 Ankeny, IA 50023 13,400 1980 [email protected] Autumn Crest Plaza 8,705 U/C8,800 $22.00 - Denny Elwell Company 260 NW 36th St 1,760 1 $25.00 Mike Billings, (515) 964-1587 Ankeny, IA 50021 1,709 NNN [email protected] Autumn Crest Plaza Center 6,967 Proposed8,800 $22.00 - Denny Elwell Company 240 NW 36th 1,760 1 $300.00 Mike Billings, (515) 964-1587 Ankeny, IA 50021 1,709 NNN [email protected] Briarwood Center 2,100 Existing 26,884 $15.00 Denny Elwell Company 2785 N Ankeny Blvd 2,100 2005 2 NNN Mike Billings, (515) 964-1587 Ankeny, IA 50021 2,100 [email protected]

Brookfield Plaza 4,323 Existing 11,779 $12.00 - Denny Elwell Company 207 NE Delaware Ave 1,840 2002 1 $14.00 Leasing Sales, (515) 964-1587 Ankeny, IA 50021 880 NNN [email protected] Delaware Square 3,238 Existing 16,550 $14.00 Denny Elwell Company 1690 SE Delaware Ave 1,750 2008 1 NNN Leasing Sales, (515) 964-1587 Ankeny, IA 50021 1,488 [email protected] Kimberley Plaza 9,211 Existing 27,772 $7.50 - Denny Elwell Company 502 N Ankeny Blvd 9,211 1996 1 $10.00 Mike Billings, (515) 964-1587 Ankeny, IA 50021 3,700 NNN [email protected] Northview Centre Bldg 2 2,432 Existing 12,950 $22.00 Denny Elwell Company 1550 N Ankeny Blvd 2,432 2015 1 NNN Leasing Sales, (515) 964-1587 Ankeny, IA 50023 2,432 [email protected] Shops at Tradition 3,609 Existing 15,868 $18.00 Denny Elwell Company 1325 SW Oralabor Rd 2,264 2013 1 NNN Leasing Sales, (515) 964-1587 Ankeny, IA 50021 992 [email protected] Shops at Tradition II 6,343 Existing 10,282 $18.00 Denny Elwell Company 1315 SE Oralabor Rd 4,848 2014 1 NNN Leasing Sales, (515) 964-1587 Ankeny, IA 50023 1,250 [email protected] Springwood Center 2,906 Existing 14,400 $12.00 Denny Elwell Company 225 SW Oralabor Rd 2,906 1996 1 NNN Leasing Sales, (515) 964-1587 Ankeny, IA 50021 2,906 [email protected]

76 annual REAL ESTATE magazine | SOURCE: Exchange Solutions by Xceligent with total available of 1,900 SF or greater RETAIL for LEASE

BUILDING NAME TOTAL AVAILABLE CONSTRUCTION STATE BUILDING SIZE LEASE RATE LISTING COMPANY ADDRESS MAXCONTIGUOUS SPACE YEAR BUILT NUMBER OF LEASE TYPE LISTING AGENT, PHONE CITY, STATE ZIP MINDIVISIBLE SPACE RENOVATED FLOORS EMAIL The Junction 3,793 Existing 23,122 $17.00 - Denny Elwell Company 802 SE Oralabor Rd 3,793 2004 1 $20.00 Leasing Sales, (515) 964-1587 Ankeny, IA 50021 1,125 NNN [email protected] White Birch Plaza 9,176 Existing 26,912 $12.00 - Denny Elwell Company 1810 SW White Birch Dr 4,820 2005 1 $15.00 Leasing Sales, (515) 964-1587 Ankeny, IA 50023 1,200 NNN [email protected]

301-311 SW Walnut St/417 SW 3rd St 3,696 Existing 13,400 $7.30 Ferguson Commercial Real Estate Services 301 SW Walnut St 3,696 1918 1 Gross Ben Digmann, (515) 309-0919 Ankeny, IA 50023 3,696 1998 [email protected] Campus Town-Retail 13,650 Proposed13,650 $24.00 Ferguson Commercial Real Estate Services 13,650 5 NNN Aaron Hyde, (515) 309-0916 Ankeny, IA 50021 1,400 [email protected] Plaza Shoppes at Prairie Trail 3,454 Existing16,389 $16.00 - JLL-Des Moines 2510 SW White Birch Dr 3,454 1 $18.00 Marcus Pitts, (515) 556-4727 Ankeny, IA 50023 1,718 NNN [email protected] The District at Prairie Trail Bldg 1 6,504 Existing 30,000 $17.00 - JLL-Des Moines 1450 SW Vintage Pkwy 4,338 2014 2 $19.00 Marcus Pitts, (515) 556-4727 Ankeny, IA 50023 2,084 NNN [email protected] The District at Prairie Trail Bldg 2 5,169 Existing 75,477 $17.00 JLL-Des Moines 1380 SW Vintage Pkwy 5,169 2016 2 NNN Marcus Pitts, (515) 556-4727 Ankeny, IA 50023 2,170 [email protected] 710 SW 3rd St 2,604 Existing 2,604 $9.25 Knapp Properties, Inc 710 SW 3rd St 2,604 1970 1 NNN Brian Erickson, CCIM, (515) 202-5035 Ankeny, IA 50023 2,604 [email protected] 2803 SW Oralabor Rd 2,900 Existing 5,760 $10.50 Peter Jacques Commercial Real Estate 2803 SW Oralabor Rd 2,900 2006 1 Net Peter Jacques, (515) 240-7383 Ankeny, IA 50023 1,450 [email protected] Central Business District

1417-1425 Walnut St 7,005 Existing 22,344 $17.50 Buyer’s Realty, Inc. 1417 Walnut St 3,500 1925 2 NNN Tim Rypma, (515) 277-4000 Des Moines, IA 50309 1,150 2016 [email protected] Cityville Building 5 11,995 Proposed12,513 $9.75 - CBRE|Hubbell Commercial 1,804 1 $10.75 Jeff Spence, (515) 224-4900 Des Moines, IA 50309 1,260 NNN [email protected] Cityville Building 8 11,995 Proposed12,513 $9.75 - CBRE|Hubbell Commercial 1,804 1 $10.75 Jeff Spence, (515) 224-4900 Des Moines, IA 50309 1,260 NNN [email protected]

Cityville Building 9 11,995 Proposed12,513 $9.00 CBRE|Hubbell Commercial 1,804 1 NNN Jeff Spence, (515) 224-4900 Des Moines, IA 50309 1,260 [email protected] Cityville on 9th Street Bldg 4 5,335 Existing 12,500 $9.75 - CBRE|Hubbell Commercial 550 SW 9th St 3,881 2015 1 $10.75 Jeff Spence, (515) 224-4900 Des Moines, IA 50309 889 2016 NNN [email protected] Davis Brown Tower 4,475 Existing 125,216 $23.00 CBRE|Hubbell Commercial 215 10th St 4,475 2007 13 MG Riley Hogan, (515) 221-6683 Des Moines, IA 50309 4,475 [email protected] Des Moines Register Building 12,860 Existing 297,475 $18.00 CBRE|Hubbell Commercial 717 Locust St 10,444 1916 14 Gross Riley Hogan, (515) 221-6683 Des Moines, IA 50309 625 2016 [email protected] Keck City Center 12,097 Existing 50,569 $15.00 CBRE|Hubbell Commercial 500 Grand Ave 9,501 1987 2 NNN Jesse Bunney, (515) 221-6667 Des Moines, IA 50309 428 2014 [email protected] Partnership Building 3,251 Existing 283,556 $15.00 CBRE|Hubbell Commercial 700 Locust St 1,751 1981 6 NNN Jesse Bunney, (515) 221-6667 Des Moines, IA 50309 1,500 2014 [email protected] Wilkins Building 8,208 U/C10,000 $17.00 CBRE|Hubbell Commercial 713 Walnut St 11,406 7 MG Thomas Jacobs, (515) 221-6654 Des Moines, IA 50309 3,307 [email protected]

SOURCE: Exchange Solutions by Xceligent | annual REAL ESTATE magazine 77 RETAIL for LEASE with total available of 1,900 SF or greater

BUILDING NAME TOTAL AVAILABLE CONSTRUCTION STATE BUILDING SIZE LEASE RATE LISTING COMPANY ADDRESS MAXCONTIGUOUS SPACE YEAR BUILT NUMBER OF LEASE TYPE LISTING AGENT, PHONE CITY, STATE ZIP MINDIVISIBLE SPACE RENOVATED FLOORS EMAIL 317 E Court Ave 6,000 U/C6,000 Negotiable Christensen Development 317 E Court Ave 6,000 1 NNN Jake Christensen, (515) 689-3000 Des Moines, IA 50309 1,500 [email protected] 322 E Court Ave 14,400 Existing 14,400 Negotiable Christensen Development 322 E Court Ave 14,400 1964 1 NNN Jake Christensen, (515) 689-3000 Des Moines, IA 50309 4,000 1990 [email protected]

300 Martin Luther King Pkwy 4,596 Existing 25,690 $28.00 Eychaner Properties 300 Martin Luther King Pkwy 2,370 1928 1 NNN Rich Eychaner, (515) 262-0000x 101 Des Moines, IA 50309 2,226 2015 [email protected] 320 W Martin Luther King Pkwy 11,936 Existing 17,958 $28.00 Eychaner Properties 320 W Martin Luther King Pkwy 5,968 1928 1 NNN Rich Eychaner, (515) 262-0000x 101 Des Moines, IA 50309 2,984 2016 [email protected] 1345 E University Ave 7,265 Existing 16,480 $9.00 - Ferguson Commercial Real Estate Services 1345 E University Ave 7,265 1996 1 $10.00 Mike Macri CCIM, (515) 440-0400 Des Moines, IA 50316 3,000 2007 NNN [email protected] Keo Retail Center Bldg 2 6,042 Existing 6,042 $18.00 - Ferguson Commercial Real Estate Services 1221 Keosauqua Way 6,042 1940 1 $22.00 Aaron Hyde, (515) 309-0916 Des Moines, IA 50309 1,590 2015 NNN [email protected] Keo Retail Center South Bldg 3,477 Existing 9,497 $18.00 - Ferguson Commercial Real Estate Services 1221 Keosauqua Way 3,477 2015 1 $22.00 Michael Shindler, (515) 309-0905 Des Moines, IA 50309 1,120 NNN [email protected] 315-320 E 6th St 4,287 Existing 10,430 $14.25 Hansen Real Estate Services Inc. 315 E 6th St 4,287 1900 1 MG Troy Hansen, (515) 270-9166 Des Moines, IA 50309 4,287 1987 [email protected]

219 E Grand Ave Iowa Realty Commercial Maxcontiguous Space: 3,486 Building Size: 17,103 219 E Grand Ave Sloan Cownie, (515) 222-0000 Mindivisible Space: 1,415 Number of Floors: 6 Des Moines, IA 50309 [email protected] Contruction State: U/C Lease Rate: Negotiable Lease Type: NNN 17,103 SF Available

Kaleidoscope at the Hub Iowa Realty Commercial Maxcontiguous Space: 35,000 Building Size: 159,707 500 Walnut St Kevin Crowley, (515) 453-5429 Mindivisible Space: 431 Number of Floors: 3 Des Moines, IA 50309 [email protected] Contruction State: Existing Lease Rate: Negotiable Year Built: 1985 Lease Type: NNN 35,868 SF Available

701 Shoppes 4,913 U/C4,913 $18.00 JLL-Des Moines 701 Grand Ave 4,913 1 NNN Heath Bullock, (515) 554-7412 Des Moines, IA 50309 889 [email protected]

801 Grand Ave 5,000 Existing 707,185 $10.00 JLL-Des Moines 801 Grand Ave 5,000 1991 41 Net Heath Bullock, (515) 554-7412 Des Moines, IA 50309 5,000 2002 [email protected] Two Ruan Center 18,608 Existing 256,250 $10.00 JLL-Des Moines 601 Locust St 10,972 1981 14 NNN Heath Bullock, (515) 554-7412 Des Moines, IA 50309 2,000 2000 [email protected] Randolph Building 3,198 Existing 42,967 $19.50 - Sherman & Assoc. 204 4th St 1,690 1908 8 $24.50 Stacie Hatch, (515) 202-8356 Des Moines, IA 50309 363 2016 Net [email protected] Northeast

Copper Creek Plaza 18,742 Existing 29,010 $10.00 Berkshire Hathaway Ambassador Real Estate 1225 Copper Creek Dr 5,760 1998 1 NNN Ron Burkle, (402) 981-3080 Pleasant Hill, IA 50327 1,880 [email protected] 1195 SE University Ave East Bldg 15,540 Proposed15,540 $22.00 - CBRE|Hubbell Commercial 1195 SE University Ave 9,800 1 $25.00 Thomas Jacobs, (515) 221-6654 Waukee, IA 50263 1,960 NNN [email protected] 120 8th St SE 8,400 Existing 11,200 $10.00 CBRE|Hubbell Commercial 120 8th St SE 8,400 1959 1 NNN Josh Masters, (515) 221-6674 Altoona, IA 50009 8,400 2001 [email protected]

78 annual REAL ESTATE magazine | SOURCE: Exchange Solutions by Xceligent with total available of 1,900 SF or greater RETAIL for LEASE

BUILDING NAME TOTAL AVAILABLE CONSTRUCTION STATE BUILDING SIZE LEASE RATE LISTING COMPANY ADDRESS MAXCONTIGUOUS SPACE YEAR BUILT NUMBER OF LEASE TYPE LISTING AGENT, PHONE CITY, STATE ZIP MINDIVISIBLE SPACE RENOVATED FLOORS EMAIL Lee Town Center 10,600 Existing 32,349 $6.00 Coppola Enterprises 2440 E Euclid Ave 10,600 1989 1 NNN Michael Coppola, (515) 285-8880 Des Moines, IA 50317 10,600 1995 [email protected] 4905 Hubbell Rd Bldg 4 3,000 Existing 7,680 $8.00 Iowa Realty Commercial 4905 NE Hubbell Rd 1,500 1953 1 NNN Mick Grossman, (515) 222-0000 Des Moines, IA 50317 1,500 2014 [email protected]

Altoona Crossing 2,118 Existing 16,500 $19.50 Knapp Properties, Inc 3770 8th St 2,118 2006 1 NNN Ben Garrett, (515) 401-7071 Altoona, IA 50009 2,118 [email protected] 2155 NE 51st Pl 2,070 Existing5,110 $16.00 NAI Optimum 2155 NE 51st Pl 2,070 1 NNN Chris Thomason, (515) 309-6707 Des Moines, IA 50313 1,000 [email protected] 501 8th St SW 2,000 Existing 6,914 Negotiable NAI Optimum 501 8th St SW 2,000 2003 1 NNN Steve Scott, (515) 309-6705 Altoona, IA 50009 2,000 [email protected] 687 31st St 5,000 Proposed5,000 $32.50 NAI Optimum 687 31st St 5,000 1 NNN Christopher Stafford, (515) 309-6706 Altoona, IA 50009 1,000 [email protected] 687 31st St 4,200 Proposed11,900 $28.50 NAI Optimum 687 31st St 2,800 1 NNN Christopher Stafford, (515) 309-6706 Altoona, IA 50009 1,400 [email protected] Shoppes at Prairie Crossing 200,000 U/C200,000 Negotiable NAI Optimum Bass Pro Dr. and NE Hubbell Ave 200,000 1 NNN Steve Scott, (515) 309-6705 Altoona, IA 50009 3,000 [email protected]

The Shoppes at Prairie Crossing Phase I NAI Optimum Maxcontiguous Space: 40,000 Building Size: 40,000 Bass Pro Dr. and NE Hubbell Ave Steve Scott, (515) 309-6705 Mindivisible Space: 40,000 Number of Floors: 1 Altoona, IA 50009 [email protected] Contruction State: Proposed Lease Rate: Negotiable

40,000 SF Available

Interstate Plaza 2,000 Existing 109,143 $7.50 Signature Commercial-Clive 5035 NE 14th St 2,000 1979 1 NNN Andy Hodges, (515) 221-9990 Des Moines, IA 50313 2,000 2007 [email protected] Eastwood Village 69,091 Existing 83,260 Negotiable Xceligent Inc-Greater Iowa 3330 E 33rd St 63,440 1990 1 NNN Research Pending, (816) 303-5300 Des Moines, IA 50317 1,344 2003 [email protected] Northwest

3000-3070 100th St 6,000 Existing 22,210 $10.50 Anderson Properties 3000 100th St 6,000 1994 1 NNN Mark Anderson, (515) 270-6104 Urbandale, IA 50322 6,000 [email protected] Ash Creek Center 8,700 Existing 75,126 $10.50 Anderson Properties 3001 100th St 5,300 1995 1 NNN Mark Anderson, (515) 270-6104 Urbandale, IA 50322 3,400 [email protected] Deerfield Crossing 3,850 Existing 52,510 $10.00 - Anderson Properties 2725 100th St 2,250 1998 1 $12.00 Mark Anderson, (515) 270-6104 Urbandale, IA 50322 1,600 NNN [email protected] Northwest Business Park - Merle Hay Rd Bldg 5,450 Existing 12,500 $10.00 Buyer’s Realty, Inc. 5335 Merle Hay Rd 1,400 1994 1 NNN Dave Little, (515) 277-4000 Johnston, IA 50131 1,250 2000 [email protected] 5900 Douglas Ave 9,000 Proposed9,000 $26.00 - CBRE|Hubbell Commercial 5900 Douglas Ave 9,000 1 $29.00 Jeff Spence, (515) 224-4900 Des Moines, IA 50322 3,000 NNN [email protected] Colby Woods Center 3,000 Existing 5,784 $14.00 CBRE|Hubbell Commercial 8034 Douglas Ave 3,000 2003 1 Gross Bill Wright, (515) 221-6672 Urbandale, IA 50322 1,000 [email protected] Country Club West 2,800 Existing 26,641 $22.50 CBRE|Hubbell Commercial 2180 NW 156th St 2,800 2001 1 Gross Bill Wright, (515) 221-6672 Clive, IA 50325 1,400 [email protected]

SOURCE: Exchange Solutions by Xceligent | annual REAL ESTATE magazine 79 RETAIL for LEASE with total available of 1,900 SF or greater

BUILDING NAME TOTAL AVAILABLE CONSTRUCTION STATE BUILDING SIZE LEASE RATE LISTING COMPANY ADDRESS MAXCONTIGUOUS SPACE YEAR BUILT NUMBER OF LEASE TYPE LISTING AGENT, PHONE CITY, STATE ZIP MINDIVISIBLE SPACE RENOVATED FLOORS EMAIL Crescent Chase Shopping Center 2,400 Existing 12,600 $9.00 CBRE|Hubbell Commercial 6110 NW 86th St 2,400 1998 1 NNN Marty Herrmann, (515) 221-6653 Johnston, IA 50131 1,000 [email protected] Douglas Retail Center 3,314 Existing 6,955 $13.00 CBRE|Hubbell Commercial 6923 Douglas Ave 3,314 1935 1 Gross Bill Wright, (515) 221-6672 Urbandale, IA 50322 3,314 [email protected]

Indian Hills Center 1,900 Existing 20,186 $16.00 CBRE|Hubbell Commercial 9735 University Ave 1,900 1979 1 NNN Bill Wright, (515) 221-6672 Clive, IA 50325 1,900 [email protected] Merle Hay Square 2,800 Existing 29,962 $14.00 CBRE|Hubbell Commercial 3408 Merle Hay Rd 1,400 1986 1 NNN Bill Wright, (515) 221-6672 Des Moines, IA 50310 1,400 1989 [email protected] Plaza 1800 7,060 Existing 30,529 $13.25 CBRE|Hubbell Commercial 1800 NW 86th St 5,660 1985 1 Gross Bill Wright, (515) 221-6672 Clive, IA 50325 1,400 [email protected] River Plaza 22,988 Existing 79,920 $6.50 - $9.00 CBRE|Hubbell Commercial 2350 Euclid Ave 12,948 1961 1 MG Marty Herrmann, (515) 221-6653 Des Moines, IA 50310 5,000 1991 [email protected] The Cove at Kettlestone West Bldg 15,540 Proposed15,540 $22.00 - CBRE|Hubbell Commercial 1195 SE University Ave 9,800 1 $25.00 Thomas Jacobs, (515) 221-6654 Waukee, IA 50263 1,960 NNN [email protected] The Square at Days Run 2,300 Existing 9,478 $13.09 - CBRE|Hubbell Commercial 4440 NW 128th St 1,200 2008 1 $17.50 Josh Masters, (515) 221-6674 Urbandale, IA 50323 1,100 Gross [email protected] University Park 28,601 Existing 110,625 $8.00 - CBRE|Hubbell Commercial 8801 University Ave 8,004 1989 1 $14.00 Tyler Dingel, (515) 221-6662 Clive, IA 50325 1,200 NNN [email protected] Westmark Plaza 3,795 Existing 40,605 $10.00 - CBRE|Hubbell Commercial 2743 86th St 2,062 2000 1 $12.50 Ajdin Nadarevic, (515) 221-6684 Urbandale, IA 50322 1,733 NNN [email protected] Westmark Plaza II 9,318 Existing 34,976 $6.00 - $8.00 CBRE|Hubbell Commercial 2601 86th St 5,318 2001 1 NNN Bill Wright, (515) 221-6672 Urbandale, IA 50322 1,660 [email protected] 1228 2nd Ave 5,150 Planned5,150 $19.00 - Denny Elwell Company 1228 2nd Ave 5,150 1 $22.00 Carson Hughes, (515) 964-1587 Des Moines, IA 50314 1,450 NNN [email protected] 3600 SE Crossroads Dr 2,101 Existing 9,800 $14.00 Denny Elwell Company 3600 SE Crossroads Dr 2,101 2004 1 MG Leasing Sales, (515) 964-1587 Grimes, IA 50111 2,101 [email protected]

4224 Merle Hay Rd Bldg 1 Denny Elwell Company Maxcontiguous Space: 7,218 Building Size: 51,376 4224 Merle Hay Rd Leasing Sales, (515) 964-1587 Mindivisible Space: 5,592 Number of Floors: 1 Des Moines, IA 50310 [email protected] Contruction State: Existing Lease Rate: $5.00 - $12.00 Year Built: 2001 24,938 SF Available

4224 Merle Hay Rd Bldg 2 23,560 Existing 23,560 $12.00 - Denny Elwell Company 4224 Merle Hay Rd 23,560 1967 1 $14.00 Leasing Sales, (515) 964-1587 Des Moines, IA 50310 8,000 NNN [email protected] Autumn Ridge Plaza 12,000 Planned12,000 $24.00 - Denny Elwell Company 725 SE Alice’s Rd 12,000 1 $26.00 Mike Billings, (515) 964-1587 Waukee, IA 50263 1,000 NNN [email protected] Johnston Station - Retail 10,149 Existing 31,750 $12.00 - Denny Elwell Company 5525 Merle Hay Rd 4,792 2005 2 $14.00 Leasing Sales, (515) 964-1587 Johnston, IA 50131 1,600 NNN [email protected] Country Club Square 3,400 Existing 15,171 $12.00 Emerald Isle Properties 2200 NW 159th St 1,900 2004 1 NNN Peggy OConnor, (515) 229-5369 Clive, IA 50325 1,500 [email protected] 3801 Merle Hay Rd 2,974 Existing 15,200 $28.00 Eychaner Properties 3801 Merle Hay Rd 2,974 2011 1 NNN Andy Burton, (515) 262-0000x 102 Des Moines, IA 50310 2,974 [email protected]

80 annual REAL ESTATE magazine | SOURCE: Exchange Solutions by Xceligent with total available of 1,900 SF or greater RETAIL for LEASE

BUILDING NAME TOTAL AVAILABLE CONSTRUCTION STATE BUILDING SIZE LEASE RATE LISTING COMPANY ADDRESS MAXCONTIGUOUS SPACE YEAR BUILT NUMBER OF LEASE TYPE LISTING AGENT, PHONE CITY, STATE ZIP MINDIVISIBLE SPACE RENOVATED FLOORS EMAIL 5701 Douglas Ave 7,350 Planned7,350 $28.00 - Eychaner Properties 5701 Douglas Ave 7,350 1 $32.00 Rich Eychaner, (515) 262-0000x 101 Des Moines, IA 50310-1302 1,440 NNN [email protected] 1.46 Acres The Shoppes at Williams Pointe 9,500 Negotiable Ferguson Commercial Real Estate Services 1300 E Hickman Rd 9,500 NNN Aaron Hyde, (515) 309-0916 Waukee, IA 50263 1,500 [email protected]

1.46 Acres The Shoppes at Williams Pointe 6,000 Negotiable Ferguson Commercial Real Estate Services 1300 E Hickman Rd 6,000 NNN Aaron Hyde, (515) 309-0916 Waukee, IA 50263 6,000 [email protected]

Central Plaza Ferguson Commercial Real Estate Services Maxcontiguous Space: 4,794 Building Size: 10,582 1135 SE Alice’s Rd Aaron Hyde, (515) 309-0916 Mindivisible Space: 1,400 Number of Floors: 1 Waukee, IA 50263 [email protected] Contruction State: U/C Lease Rate: $21.00 - $24.00 Lease Type: NNN 4,794 SF Available

Haymarket Square Ferguson Commercial Real Estate Services Maxcontiguous Space: 11,400 Building Size: 269,705 4347 Merle Hay Rd Aaron Hyde, (515) 309-0916 Mindivisible Space: 1,500 Number of Floors: 1 Des Moines, IA 50310 [email protected] Contruction State: Existing Lease Rate: $7.00 - $16.00 Year Built/Renovated: 1979/2002 Lease Type: NNN 50,216 SF Available

Tuscany Village Center 1,920 Existing 22,400 $9.50 Ferguson Commercial Real Estate Services 3887 121st St 1,920 2007 1 NNN Mike Macri CCIM, (515) 440-0400 Urbandale, IA 50323 1,920 [email protected] 1900 NW 86th St 11,592 Existing 11,592 $12.00 Hansen Real Estate Services Inc. 1900 NW 86th St 11,592 1991 1 NNN Troy Hansen, (515) 270-9166 Clive, IA 50325 11,592 [email protected] Deerfield Village Bldg 1 19,100 Planned19,100 Negotiable Hurd Real Estate Services 15600 Hickman Rd 19,100 1 NNN Richie Hurd, (515) 778-1009 Clive, IA 50325 1,000 [email protected] Deerfield Village Bldg 2-4 51,634 Planned51,634 Negotiable Hurd Real Estate Services 15600 Hickman Rd 26,404 1 Richie Hurd, (515) 778-1009 Clive, IA 50325 1,000 [email protected] Deerfield Village Bldg 5 4,800 Planned4,800 Negotiable Hurd Real Estate Services 15600 Hickman Rd 4,800 1 NNN Richie Hurd, (515) 778-1009 Clive, IA 50325 4,800 [email protected] Deerfield Village Bldg 6-7 14,580 Planned14,580 Negotiable Hurd Real Estate Services 15600 Hickman Rd 8,320 1 NNN Richie Hurd, (515) 778-1009 Clive, IA 50325 6,260 [email protected]

Deerfield Village Bldg 8 10,258 Planned10,258 Negotiable Hurd Real Estate Services 15600 Hickman Rd 10,258 1 NNN Richie Hurd, (515) 778-1009 Clive, IA 50325 1,000 [email protected] Waukee Marketplace Lot 1 4,000 Proposed4,000 Negotiable Hurd Real Estate Services 4,000 1 NNN Richard Hurd, (515) 225-1102 Waukee, IA 50263 4,000 [email protected] Waukee Marketplace Lot 2 7,381 Proposed7,381 Negotiable Hurd Real Estate Services 7,381 1 NNN Richard Hurd, (515) 225-1102 Waukee, IA 50263 7,381 [email protected] Waukee Marketplace Lot 3 3,800 Proposed3,800 Negotiable Hurd Real Estate Services 3,800 1 NNN Richard Hurd, (515) 225-1102 Waukee, IA 50263 3,800 [email protected] Waukee Marketplace Lot 4 8,400 Proposed8,400 Negotiable Hurd Real Estate Services 8,400 1 NNN Richard Hurd, (515) 225-1102 Waukee, IA 50263 8,400 [email protected] Waukee Marketplace Lot 5 17,800 Proposed17,800 Negotiable Hurd Real Estate Services 17,800 1 NNN Richard Hurd, (515) 225-1102 Waukee, IA 50263 17,800 [email protected] Waukee Marketplace Lot 6 8,700 Proposed8,700 Negotiable Hurd Real Estate Services 8,700 1 NNN Richard Hurd, (515) 225-1102 Waukee, IA 50263 8,700 [email protected]

SOURCE: Exchange Solutions by Xceligent | annual REAL ESTATE magazine 81 RETAIL for LEASE with total available of 1,900 SF or greater

BUILDING NAME TOTAL AVAILABLE CONSTRUCTION STATE BUILDING SIZE LEASE RATE LISTING COMPANY ADDRESS MAXCONTIGUOUS SPACE YEAR BUILT NUMBER OF LEASE TYPE LISTING AGENT, PHONE CITY, STATE ZIP MINDIVISIBLE SPACE RENOVATED FLOORS EMAIL Waukee Marketplace Lot 7 17,550 Proposed17,550 Negotiable Hurd Real Estate Services 17,550 1 NNN Richard Hurd, (515) 225-1102 Waukee, IA 50263 17,550 [email protected] 3613-3629 Beaver Ave 12,605 Existing 12,582 $6.75 - Iowa Realty Commercial 3613 Beaver Ave 6,200 1953 1 $14.00 John Knapp, (515) 453-5467 Des Moines, IA 50310 900 1993 [email protected]

3800-3810 Douglas Ave 8,000 Existing 9,936 $6.75 - Iowa Realty Commercial 3800 Douglas Ave 4,800 1945 2 $12.00 John Knapp, (515) 453-5467 Des Moines, IA 50310 800 Gross [email protected] Cobblestone Market 3,200 Existing 56,233 $7.00 Iowa Realty Commercial 8401 Hickman Rd 6,200 1988 1 NNN Judy Patterson, (515) 453-5459 Urbandale, IA 50322 3,200 [email protected] Green Horizon Center 6,100 Existing 14,100 $7.00 Iowa Realty Commercial 1830 SE Princeton Dr 3,050 2007 1 Net Blake Pagliai, (515) 720-6215 Grimes, IA 50111 1,525 [email protected] Clive Plaza 3,500 Proposed3,500 Negotiable Kimco Realty-Rosemont 10331 University Ave 3,500 1 Scott Tucker, (847) 508-7779 Clive, IA 50325 3,500 [email protected] 2250 E 1st St 2,083 Existing 6,500 Negotiable Knapp Properties, Inc 2250 E 1st St 2,083 2016 1 NNN Ben Garrett, (515) 401-7071 Grimes, IA 50111 2,083 [email protected] 2551 Douglas Ave 2,700 Existing 2,700 $7.00 Knapp Properties, Inc 2551 Douglas Ave 2,700 1990 1 NNN Ben Garrett, (515) 401-7071 Des Moines, IA 50310 2,700 [email protected] 5800 Merle Hay Rd 4,774 Existing 57,680 $6.00 - Knapp Properties, Inc 5800 Merle Hay Rd 4,774 1982 1 $10.00 Ben Garrett, (515) 401-7071 Johnston, IA 50131 4,774 NNN [email protected] Interstate Acres Bldg 1 14,000 Proposed14,000 Negotiable Knapp Properties, Inc 10922 Meredith Dr 14,000 1 NNN Ben Garrett, (515) 401-7071 Urbandale, IA 50322 14,000 [email protected] Interstate Acres Bldg 2 9,100 Proposed9,100 Negotiable Knapp Properties, Inc 10922 Meredith Dr 9,100 1 NNN Ben Garrett, (515) 401-7071 Urbandale, IA 50322 9,100 [email protected]

Slumberland Furniture Knapp Properties, Inc Maxcontiguous Space: 38,400 Building Size: 38,400 8800 Hickman Rd Ben Garrett, (515) 401-7071 Mindivisible Space: 38,400 Number of Floors: 1 Clive, IA 50325 [email protected] Contruction State: Existing Lease Rate: Negotiable Year Built: 1965 Lease Type: NNN 38,400 SF Available

The Landing at Shadow Creek Bldg A 13,500 Proposed13,500 Negotiable Landmark Brokerage Services Douglas Pkwy 13,500 1 NNN Casey Shelton, (515) 402-3001 Waukee, IA 50325 13,500 [email protected] The Landing at Shadow Creek Bldg C 15,540 Proposed15,540 Negotiable Landmark Brokerage Services Douglas Pkwy 15,540 1 NNN Casey Shelton, (515) 402-3001 Waukee, IA 50325 15,540 [email protected] 3805 6th Ave 7,600 Existing 7,600 $6.00 NAI Optimum 3805 6th Ave 7,600 1955 1 NNN Keith Olson, (515) 226-8014 Des Moines, IA 50313 7,600 [email protected] 3807 6th Ave 8,536 Existing 8,536 $6.00 NAI Optimum 3807 6th Ave 8,536 1910 1 NNN Keith Olson, (515) 226-8014 Des Moines, IA 50313 8,536 1950 [email protected] 4651 86th St 4,200 Existing 16,640 Negotiable NAI Optimum 4651 86th St 4,200 1995 1 NNN Steve Scott, (515) 309-6705 Urbandale, IA 50322 1,800 [email protected] Family Video Center - Johnston 6,000 Existing 8,440 Negotiable NAI Optimum 5935 Merle Hay Rd 6,000 2007 1 NNN Steve Scott, (515) 309-6705 Johnston, IA 50131 1,200 [email protected] Merle Hay Mall 76,856 Existing 942,343 $6.00 NAI Optimum 3850 Merle Hay Rd 76,856 1959 1 NNN Chris Thomason, (515) 309-6707 Urbandale, IA 50310 76,856 1993 [email protected]

82 annual REAL ESTATE magazine | SOURCE: Exchange Solutions by Xceligent with total available of 1,900 SF or greater RETAIL for LEASE

BUILDING NAME TOTAL AVAILABLE CONSTRUCTION STATE BUILDING SIZE LEASE RATE LISTING COMPANY ADDRESS MAXCONTIGUOUS SPACE YEAR BUILT NUMBER OF LEASE TYPE LISTING AGENT, PHONE CITY, STATE ZIP MINDIVISIBLE SPACE RENOVATED FLOORS EMAIL Plaza on 86th 20,960 Proposed20,960 $24.00 - NAI Optimum 20,960 1 $28.00 Steve Scott, (515) 309-6705 Johnston, IA 50131 20,960 NNN [email protected] Sherwood Forest 7,076 Existing 21,946 $10.00 NAI Optimum 7342 Hickman Rd 7,076 1961 1 Gross Keith Olson, (515) 226-8014 Windsor Heights, IA 50324 7,076 [email protected]

Sherwood Forest 2,920 Existing 44,534 $10.25 NAI Optimum 7506 Hickman Rd 2,920 1962 2 Gross Keith Olson, (515) 226-8014 Windsor Heights, IA 50322 2,920 1984 [email protected] Urban Town Center 42,465 Existing 128,607 $4.50 - NAI Optimum 3701 86th St 12,557 1988 1 $12.00 Chris Thomason, (515) 309-6707 Urbandale, IA 50322 1,254 NNN [email protected] Urbandale Marketplace 9,230 Existing 23,390 $11.95 NAI Optimum 11101 Plum Dr 1,939 2001 1 NNN Steve Scott, (515) 309-6705 Urbandale, IA 50322 1,149 [email protected] Northpark Court 5,226 Existing 9,180 $13.00 Peter A. Brown Commercial Real Estate Services 8703 Northpark Ct 5,226 2005 1 NNN Peter Brown, (515) 277-1265 Johnston, IA 50131 5,226 [email protected] Northpark Court 1,996 Existing 8,854 $14.00 Peter A. Brown Commercial Real Estate Services 8749 Northpark Dr 1,996 2005 1 NNN Peter Brown, (515) 277-1265 Johnston, IA 50131 1,996 [email protected] Paragon Retail 2,439 Existing 11,449 $15.00 R&R Real Estate Advisors 12671 Meredith Dr 2,439 2008 1 NNN Paul Rupprecht, (515) 223-4500 Urbandale, IA 50233 1,144 [email protected]

Hickman Center Signature Commercial-Clive Maxcontiguous Space: 11,284 Building Size: 71,702 10065 Hickman Rd Andy Hodges, (515) 221-9990 Mindivisible Space: 11,284 Number of Floors: 1 Urbandale, IA 50322 [email protected] Contruction State: Existing Lease Rate: $8.00 Year Built/Renovated: 1985/2005 Lease Type: NNN 11,284 SF Available

2712-2726 Douglas Ave 2,225 Existing 12,813 $8.62 - Stanbrough Realty Company 2712 Douglas Ave 1,250 1961 1 $10.66 Daniel Connolly, J.D., (515) 707-4676 Des Moines, IA 50310 975 MG [email protected] Adam Ridge 10,000 Proposed10,000 $16.00 - Stanbrough Realty Company 10015 NW 61st Ave 10,000 1 $18.00 Eric J. Grubb, CCIM, (515) 975-7441 Johnston, IA 50131 5,000 NNN [email protected] Heritage Park West 3,656 Existing 7,771 $28.00 Stanbrough Realty Company 11895 Hickman Rd 1,316 2016 1 NNN Jeff Stanbrough CCIM, CPM, (515) 334-3345 Urbandale, IA 50323 1,170 [email protected]

NE of University Ave & NW 128th St 6,700 Planned6,700 $24.00 Stanbrough Realty Company 6,700 1 NNN Jeff Stanbrough CCIM, CPM, (515) 334-3345 Clive, IA 50325 1,500 [email protected] SW of NW 62nd St and NW 100th St 8,000 Proposed8,000 $20.00 Stanbrough Realty Company 6125 NW 103rd St 8,000 1 NNN Eric J. Grubb, CCIM, (515) 975-7441 Johnston, IA 50131 1,500 [email protected] Franklin Plaza 10,898 Existing 25,187 Negotiable Terrus Real Estate Group, LLC 4922 Franklin Ave 10,293 1953 1 Gross Sherri Goode, (515) 471-4310 Des Moines, IA 50310 605 1986 [email protected] Crown Center 6,803 Existing 18,880 $8.00 - The Siedenburg Group-Des Moines 5500 Merle Hay Rd 5,300 2001 1 $12.00 Douglas Siedenburg, (515) 223-6222 Johnston, IA 50131 1,503 Net [email protected] Twin Eagles Plaza 6,174 Existing 13,139 $8.00 The Siedenburg Group-Des Moines 3941 100th St 3,724 2004 1 NNN Douglas Siedenburg, (515) 223-6222 Urbandale, IA 50322 2,450 [email protected] Haymarket Mall 7,750 Existing 241,572 Negotiable Xceligent Inc-Greater Iowa 4080 Merle Hay Rd 3,530 1963 1 NNN Research Pending, (816) 303-5300 Des Moines, IA 50310 1,451 1988 [email protected] Jesse Plaza 9,770 Existing 20,131 $15.00 Xceligent Inc-Greater Iowa 3816 100th St 5,000 1996 1 Gross Research Pending, (816) 303-5300 Urbandale, IA 50322 2,100 [email protected]

SOURCE: Exchange Solutions by Xceligent | annual REAL ESTATE magazine 83 RETAIL for LEASE with total available of 1,900 SF or greater

Westroads Shopping Center 14,162 Existing 55,884 $5.00 CBRE|Hubbell Commercial 1801 W 2nd St 14,990 1974 1 NNN Bill Wright, (515) 221-6672 Indianola, IA 50125 2,765 [email protected]

Scenic Pointe Plaza 3,955 Existing 20,342 $11.50 NAI Optimum 1705 N Jefferson Way 3,955 2004 1 NNN Keith Olson, (515) 226-8014 Indianola, IA 50125 1,366 [email protected] 610 N Jefferson Way 6,831 Existing 6,831 $9.50 Terrus Real Estate Group, LLC 610 N Jefferson Way 6,831 2013 1 NNN Brian Phillips, (515) 471-4320 Indianola, IA 50125 6,831 [email protected] Southeast

2619 SW 9th St 4,500 U/C4,500 $18.00 CBRE|Hubbell Commercial 2619 SW 9th St 1,500 1 NNN Ajdin Nadarevic, (515) 221-6684 Des Moines, IA 50315 1,500 [email protected] Army Post Plaza 4,000 Existing 57,742 $7.50 CBRE|Hubbell Commercial 1040 E Army Post Rd 4,000 1988 1 NNN Bill Wright, (515) 221-6672 Des Moines, IA 50315 4,000 [email protected] Aspen Shopping Center 39,200 Existing 90,450 Negotiable CBRE|Hubbell Commercial 6051 SE 14th St 39,200 1985 1 NNN Bill Wright, (515) 221-6672 Des Moines, IA 50320 39,200 2001 [email protected] La Placita 1,956 Existing 5,731 $18.00 CBRE|Hubbell Commercial 1552 E Grand Ave 1,956 2009 1 NNN Bill Wright, (515) 221-6672 Des Moines, IA 50316 1,956 [email protected] Southdale Shopping Center 64,939 Existing 174,373 $7.50 - CBRE|Hubbell Commercial 4900 SE 14th St 35,280 1992 1 $14.00 Bill Wright, (515) 221-6672 Des Moines, IA 50320 2,520 NNN [email protected] Southport Plaza 3,290 Existing 47,995 $4.00 - $9.75 CBRE|Hubbell Commercial 6201 SE 14th St 1,750 1994 1 NNN Marty Herrmann, (515) 221-6653 Des Moines, IA 50320 1,540 [email protected] Army Post Square 2,100 Existing 25,155 $7.00 Connolly Realty Group 520 Army Post Rd 2,100 1987 1 NNN Matt Connolly, (515) 975-9600 Des Moines, IA 50315 2,100 [email protected] SW of E University Ave & E 28th Ct 5,382 Proposed5,400 $15.00 - Denny Elwell Company 5,382 1 $16.00 Leasing Sales, (515) 964-1587 Des Moines, IA 50313 1,072 NNN [email protected]

101 Army Post Rd 2,932 Existing2,932 $15.00 Hurd Real Estate Services 101 Army Post Rd 2,932 1 NNN Daniel Hurd, (515) 778-1006 Des Moines, IA 50315 2,932 [email protected] 4841 SE 14th St 10,005 Existing 12,194 Negotiable Iowa Realty Commercial 4841 SE 14th St 8,624 2001 1 Blake Pagliai, (515) 720-6215 Des Moines, IA 50320 1,381 [email protected] Southridge Square 2,250 Existing 18,900 $10.00 Iowa Realty Commercial 1300 E Army Post Rd 2,250 1975 1 NNN Jordan Bouslog, (515) 453-5473 Des Moines, IA 50315 2,250 2001 [email protected] 100 Army Post Rd 48,341 Existing 48,341 $6.50 Knapp Properties, Inc 100 Army Post Rd 48,341 1987 1 NNN Ben Garrett, (515) 401-7071 Des Moines, IA 50315 48,341 1999 [email protected] SE of Euclid Ave and E 25th St Bldg 1 8,750 Proposed8,750 Negotiable Knapp Properties, Inc E Euclid Ave 8,750 1 NNN Ben Garrett, (515) 401-7071 Des Moines, IA 50317 8,750 [email protected] SE of Euclid Ave and E 25th St Bldg 2 3,150 Proposed3,150 Negotiable Knapp Properties, Inc E Euclid Ave 3,150 1 NNN Ben Garrett, (515) 401-7071 Des Moines, IA 50317 3,150 [email protected] Stefon Plaza 17,786 Existing 59,186 $9.75 Knapp Properties, Inc 200 Army Post Rd 10,120 1987 1 NNN Ben Garrett, (515) 401-7071 Des Moines, IA 50315 800 [email protected]

84 annual REAL ESTATE magazine | SOURCE: Exchange Solutions by Xceligent with total available of 1,900 SF or greater RETAIL for LEASE

BUILDING NAME TOTAL AVAILABLE CONSTRUCTION STATE BUILDING SIZE LEASE RATE LISTING COMPANY ADDRESS MAXCONTIGUOUS SPACE YEAR BUILT NUMBER OF LEASE TYPE LISTING AGENT, PHONE CITY, STATE ZIP MINDIVISIBLE SPACE RENOVATED FLOORS EMAIL Southridge Mall 8,319 Existing 853,412 Negotiable Macerich Properties 1111 E Army Post Rd 6,919 1975 1 NNN Jeanne Butz, (319) 431-8399 Des Moines, IA 50315 1,400 1992 [email protected] Southwest

22nd Street Plaza 12,100 Existing 25,300 Negotiable Buyer’s Realty, Inc. 1421 22nd St 12,100 1974 1 NNN Jeff Daniels, (515) 277-4000 West Des Moines, IA 50266 12,100 2007 [email protected] 2301 Ingersoll Ave 11,692 Proposed120,000 $28.00 - Buyer’s Realty, Inc. 2301 Ingersoll Ave 11,692 4 $31.00 Tim Rypma, (515) 277-4000 Des Moines, IA 50312 11,692 NNN [email protected] Core Plaza 10,000 Proposed10,000 Negotiable Buyer’s Realty, Inc. Mills Civic Pkwy 10,000 1 Robb Lydon, (515) 277-4000 West Des Moines, IA 50266 10,000 [email protected] Core Plaza 7,500 Proposed7,500 Negotiable Buyer’s Realty, Inc. 700 S Mills Civic Pkwy 7,500 1 Robb Lydon, (515) 277-4000 West Des Moines, IA 50266 7,500 [email protected] Core Plaza 5,700 Proposed5,700 Negotiable Buyer’s Realty, Inc. Mills Civic Pkwy 5,700 1 NNN Robb Lydon, (515) 277-4000 West Des Moines, IA 50266 5,700 [email protected] Kettlestone Plaza 6,500 Proposed10,600 Negotiable Buyer’s Realty, Inc. IH-80 6,500 1 NNN Dave Little, (515) 277-4000 Waukee, IA 50263 1,300 [email protected] NW of Mills Civic Pkwy and S 64th St Lot 8 10,532 Proposed10,600 $22.00 - Buyer’s Realty, Inc. Mills Civic Pkwy 1,600 1 $24.00 Mike Cunningham, (515) 277-4000 West Des Moines, IA 50266 1,300 NNN [email protected] Paradise Pointe Lot 7 2,958 Existing 5,250 Negotiable Buyer’s Realty, Inc. 2,958 2016 1 NNN Mike Cunningham, (515) 277-4000 West Des Moines, IA 50266 1,500 [email protected] Water Tower Place 51,450 Existing 237,360 Negotiable Buyer’s Realty, Inc. 3810 University Ave 51,450 1995 1 NNN Jeff Daniels, (515) 277-4000 West Des Moines, IA 50266 10,000 [email protected] 221 SW 63rd St 7,000 Existing 20,760 $6.50 CBRE|Hubbell Commercial 221 SW 63rd St 7,000 1979 1 NNN Jesse Bunney, (515) 221-6667 Des Moines, IA 50312 7,000 [email protected] 33083 Ute Ave 3,040 Existing 3,040 $10.00 CBRE|Hubbell Commercial 33083 Ute Ave 3,040 1994 1 Gross Tyler Dingel, (515) 221-6662 Waukee, IA 50263 3,040 [email protected]

Country Side Village Shopping Center 5,600 Existing 31,600 $13.00 CBRE|Hubbell Commercial 1903 EP True Pkwy 2,400 1987 1 Net Austin Hedstrom, (515) 221-6675 West Des Moines, IA 50265 1,200 2002 [email protected] Crossroads Shopping Center 6,523 Existing 22,572 $14.50 - CBRE|Hubbell Commercial 1821 22nd St 6,523 1985 1 $16.50 Bill Wright, (515) 221-6672 West Des Moines, IA 50266 1,447 NNN [email protected] Gateway Center 2,504 Existing 7,180 $10.00 CBRE|Hubbell Commercial 308 Grand Ave 1,339 1962 1 Gross Bill Wright, (515) 221-6672 West Des Moines, IA 50265 1,165 [email protected] Jordan Creek Centre 3,123 Existing 14,051 $12.00 CBRE|Hubbell Commercial 230 S 68th St 3,123 2005 3 NNN Jeff Spence, (515) 224-4900 West Des Moines, IA 50266 3,123 [email protected] Normandy Plaza Shopping Center 6,598 Existing 135,076 $14.00 - CBRE|Hubbell Commercial 1960 Grand Ave 4,200 1986 1 $15.00 Bill Wright, (515) 221-6672 West Des Moines, IA 50265 1,400 NNN [email protected]

Somerfield Village Bldg 1 CBRE|Hubbell Commercial Maxcontiguous Space: 2,592 Building Size: 52,772 4800 Mills Civic Pkwy Bill Wright, (515) 221-6672 Mindivisible Space: 1,158 Number of Floors: 2 West Des Moines, IA 50265 [email protected] Contruction State: Existing Lease Rate: $12.50 - $16.25 Year Built: 2001 Lease Type: NNN 3,750 SF Available

SOURCE: Exchange Solutions by Xceligent | annual REAL ESTATE magazine 85 RETAIL for LEASE with total available of 1,900 SF or greater

BUILDING NAME TOTAL AVAILABLE CONSTRUCTION STATE BUILDING SIZE LEASE RATE LISTING COMPANY ADDRESS MAXCONTIGUOUS SPACE YEAR BUILT NUMBER OF LEASE TYPE LISTING AGENT, PHONE CITY, STATE ZIP MINDIVISIBLE SPACE RENOVATED FLOORS EMAIL Val-Gate Shopping Center 5,000 Existing 5,000 $20.00 CBRE|Hubbell Commercial 820 1st St 5,000 2016 1 NNN Bill Wright, (515) 221-6672 West Des Moines, IA 50265 2,020 [email protected] Wakonda on Fleur 8,507 Existing 44,370 $10.00 - CBRE|Hubbell Commercial 4121 Fleur Dr 7,107 1966 1 $12.00 Bill Wright, (515) 221-6672 Des Moines, IA 50321 1,400 2007 NNN [email protected]

Governor Square 10,644 Existing 100,056 $8.00 - Denny Elwell Company 2700 University Ave 5,801 1986 1 $10.00 Leasing Sales, (515) 964-1587 West Des Moines, IA 50266 978 NNN [email protected] 3701 EP True Pkwy 1,975 Existing 14,156 $15.00 Eychaner Properties 3701 EP True Pkwy 1,975 1993 1 NNN Andy Burton, (515) 262-0000 x102 West Des Moines, IA 50265 1,975 [email protected] 3340 Westown Pkwy 7,033 Existing 7,033 $18.00 Ferguson Commercial Real Estate Services 3340 Westown Pkwy 7,033 1982 1 NNN Aaron Hyde, (515) 309-0916 West Des Moines, IA 50266 7,033 [email protected] Clocktower Square 23,101 Existing 116,142 $9.00 - Ferguson Commercial Real Estate Services 2900 University Ave 14,792 1983 1 $24.00 Aaron Hyde, (515) 309-0916 West Des Moines, IA 50266 1,731 2015 NNN [email protected] Clocktower Square 15,443 Existing 19,936 $9.00 - Ferguson Commercial Real Estate Services 2800 University Ave 9,696 1984 1 $24.00 Aaron Hyde, (515) 309-0916 West Des Moines, IA 50266 1,776 2015 NNN [email protected] Shoppes at Valley West 12,000 Existing 18,300 $9.50 Ferguson Commercial Real Estate Services 3330 Westown Pkwy 9,000 1985 1 NNN Aaron Hyde, (515) 309-0916 Des Moines, IA 50266 1,500 [email protected] University Avenue Outlot 16,000 Proposed16,000 Negotiable Ferguson Commercial Real Estate Services 7170 University Ave 16,000 1 NNN Aaron Hyde, (515) 309-0916 West Des Moines, IA 50266 1,400 [email protected] West University Plaza 1,925 Existing 17,200 $9.00 - Ferguson Commercial Real Estate Services 7500 University Ave 1,925 1978 1 $11.00 Ben Brackett, (515) 309-0918 Clive, IA 50325 1,925 1995 NNN [email protected] Airport Plaza 2,515 Existing 42,482 $7.50 - Forget Properties 4214 Fleur Dr 2,275 1986 2 $29.50 Arnold Forget, (515) 991-4402 Des Moines, IA 50321 120 [email protected] Jordan Creek Town Center 24,433 Existing 1,340,000 Negotiable General Growth Prope-Des Moines 101 Jordan Creek Pkwy 10,143 2004 2 NNN James Mazan, (312) 960-5706 West Des Moines, IA 50266 789 2005 [email protected] 3121 Ingersoll Ave 30,000 Proposed30,000 Negotiable Hurd Real Estate Services 3121 Ingersoll Ave 30,000 1 NNN Richie Hurd, (515) 778-1009 Des Moines, IA 50312 30,000 [email protected]

4055 Westown Pkwy 6,068 Existing 6,068 $20.00 Hurd Real Estate Services 4055 Westown Pkwy 6,068 1996 1 NNN Richie Hurd, (515) 778-1009 West Des Moines, IA 50266 6,068 [email protected]

Mills Crossing Hurd Real Estate Services Maxcontiguous Space: 6,000 Building Size: 6,000 5963 S Mills Civic Pkwy Richard Hurd, (515) 225-1102 Mindivisible Space: 2,000 Number of Floors: 1 West Des Moines, IA 50266 [email protected] Contruction State: Proposed Lease Rate: Negotiable Lease Type: NNN 6,000 SF Available

Mills Crossing 10,000 Proposed35000 Negotiable Hurd Real Estate Services 587 S 60th St 10,000 4 NNN Richard Hurd, (515) 225-1102 West Des Moines, IA 50266 10,000 [email protected] Mills Crossing Bldg 2 5,500 Proposed5,500 Negotiable Hurd Real Estate Services 657 S Prairie View Dr 5,500 1 NNN Richard Hurd, (515) 225-1102 West Des Moines, IA 50266 5,500 [email protected] Plaza at Jordan Creek 46,400 Proposed46,400 Negotiable Hurd Real Estate Services 320 S Jordan Creek Pkwy 20,000 1 NNN Richard Hurd, (515) 225-1102 West Des Moines, IA 50266 6,400 [email protected] Plaza at Jordan Creek Bldg 8 50,000 Existing50,000 Negotiable Hurd Real Estate Services 320 S Jordan Creek Pkwy 50,000 1 NNN Richard Hurd, (515) 225-1102 West Des Moines, IA 50266 25,000 [email protected]

86 annual REAL ESTATE magazine | SOURCE: Exchange Solutions by Xceligent with total available of 1,900 SF or greater RETAIL for LEASE

BUILDING NAME TOTAL AVAILABLE CONSTRUCTION STATE BUILDING SIZE LEASE RATE LISTING COMPANY ADDRESS MAXCONTIGUOUS SPACE YEAR BUILT NUMBER OF LEASE TYPE LISTING AGENT, PHONE CITY, STATE ZIP MINDIVISIBLE SPACE RENOVATED FLOORS EMAIL 1000 Army Post Rd 3,000 Existing 3,000 $12.00 Iowa Realty Commercial 1000 Army Post Rd 3,000 2000 1 Gross Tom Hudson, (515) 453-5480 Des Moines, IA 50315 1,500 [email protected] 817 Grand Ave 2,200 Existing 3,025 $13.64 Iowa Realty Commercial 817 Grand Ave 2,200 1951 2 Gross Blake Pagliai, (515) 720-6215 West Des Moines, IA 50265 2,200 2004 [email protected]

Airport Plaza on 63rd 9,496 Existing 28,992 $10.00 Iowa Realty Commercial 6151 Thornton Ave 6,000 2000 1 NNN Mick Grossman, (515) 222-0000 Des Moines, IA 50321 3,496 [email protected] Valley Junction Retail - 315 5th St 4,100 Existing 6,785 $11.12 Iowa Realty Commercial 313 5th St 4,100 1946 1 Gross Kevin Crowley, (515) 453-5429 West Des Moines, IA 50265 4,100 2003 [email protected] 801-803 73rd St Bldg 5,735 Existing 17,600 $8.00 - MCR | Morton Commercial Real Estate 801 73rd St 2,500 1977 2 $18.50 Shannon Morton, (515) 508-1930 Windsor Heights, IA 50324 1,600 1983 [email protected] Apple Valley 28,975 Existing28,975 Negotiable NAI Optimum 7100 University Ave 28,975 1 NNN Chris Thomason, (515) 309-6707 Windsor Heights, IA 50311 900 [email protected] NW of Mills Civic Pkwy and S 50th St 10,500 Proposed17,000 $24.00 - NAI Optimum Mills Civic Pkwy 9,000 1 $28.00 Steve Scott, (515) 309-6705 West Des Moines, IA 50265 1,500 NNN [email protected] Town Center East 28,959 Existing 65,793 $10.00 - OMNE Partners 5465 Mills Civic Pkwy 5,559 2008 4 $15.00 Jennifer Howell, (515) 223-7885 West Des Moines, IA 50266 1,520 NNN [email protected] West Glen Town Center - Avenue of the Arts 6,325 Existing 84,071 $15.00 OMNE Partners 5513 S Mills Civic Pkwy 3,005 2005 1 NNN Jennifer Howell, (515) 223-7885 West Des Moines, IA 50266 1,491 [email protected] Uptown Shopping Center 2,900 Existing 20,649 $15.00 Peter Jacques Commercial Real Estate 1129 42nd St 2,900 1951 1 NNN Peter Jacques, (515) 240-7383 Des Moines, IA 50311 2,900 [email protected]

Hawthorne Centre Signature Commercial-Clive Maxcontiguous Space: 5,750 Building Size: 55,335 9500 University Ave Andy Hodges, (515) 221-9990 Mindivisible Space: 1,298 Number of Floors: 1 West Des Moines, IA 50266 [email protected] Contruction State: Existing Lease Rate: $16.00 - $24.00 Year Built: 2016 Lease Type: NNN 10,851 SF Available

Hawthorne Plaza Signature Commercial-Clive Maxcontiguous Space: 4,563 Building Size: 30,000 9250 University Ave Andy Hodges, (515) 221-9990 Mindivisible Space: 1,249 Number of Floors: 1 West Des Moines, IA 50266 [email protected] Contruction State: Existing Lease Rate:$22.00 Year Built: 2014 Lease Type: NNN 7,552 SF Available

Ashworth Plaza 3,529 Existing 43,174 $15.00 Stanbrough Realty Company 5902 Ashworth Rd 1,929 1994 1 NNN Jeff Stanbrough CCIM, CPM, (515) 334-3345 West Des Moines, IA 50266 1,200 1998 [email protected] Former Cozy Cafe 1,920 Existing 1,920 $31.25 Stanbrough Realty Company 3535 Westown Pkwy 1,920 1972 1 FSG Scott Berry, (515) 309-1700 West Des Moines, IA 50266 1,920 [email protected] Walnut Grove 2,280 Existing 11,892 $15.00 Stanbrough Realty Company 1300 50th St 1,150 1988 1 NNN Jeff Stanbrough CCIM, CPM, (515) 334-3345 West Des Moines, IA 50266 1,130 [email protected] Mills Crossing (Lot 4) 22,027 Existing 69,225 Negotiable Terra National Real Estate Group 5853 S Mills Civic Pkwy 22,027 2015 1 Jack Barson, (216) 378-1220 West Des Moines, IA 50266 22,027 [email protected] 1003 73rd St 11,320 Existing 11,320 $8.00 Terrus Real Estate Group, LLC 1003 73rd St 11,320 1992 1 NNN Brian Phillips, (515) 471-4320 Windsor Heights, IA 50324 11,320 [email protected] Mills Crossing 10,000 Proposed35,000 Negotiable Hurd Real Estate Services 587 S 60th St 10,000 4 NNN Richard Hurd, (515) 225-1102 West Des Moines, IA 50266 10,000 [email protected]

SOURCE: Exchange Solutions by Xceligent | annual REAL ESTATE magazine 87 Building Today for a Stronger Tomorrow

We Build Stories.

We use our broad expertise in development, design, construction, management and ﬁnancing as a way to improve the lives of people and communities. We’re driven to create spaces where people thrive and businesses succeed.

RYANCOMPANIES.COM

AMERICAN ENTERPRISE GROUP, INC. RENOVATION / DES MOINES, IA SPECIAL ADVERTISING SECTION

LEADERS IN REAL ESTATE SPECIAL ADVERTISING SECTION

Kevin Crowley, SIOR and Jason Lozano Brokerage Team

Kevin Crowley, SIOR and Jason Lozano are Commercial real estate specialists that focus on providing the highest level of service in their client relationships. Crowley and Lozano remain proactively engaged with the commercial real estate markets throughout central Iowa. They focus on service that will yield results that align with their clients’ business objectives.

With over 50 years of combined experience, Lozano and Crowley have won multiple awards from within the Greater Des Moines and ICREA market places. Whether it is a Fortune 500 company or locally owned, they are dedicated to their clients’ needs.

The Lozano and Crowley brokerage team bring objective representation, creativity, and value to the commercial real estate market every day. Both, Lozano and Crowley, are broker associates and dedicated professionals to the commercial real estate business.

Besides business activities, they are devoted to their families and are active in many local and national service organizations, boards, and industry groups. [email protected] 515-991-7000 [email protected] 515-577-4225 SPECIAL ADVERTISING SECTION

“Your customer doesn’t care how much you know, until they know how much you care.” DAMON RICHARDS

Mick Grossman Senior Associate, Iowa Realty Commercial

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[email protected] 515-771-3299 SPECIAL ADVERTISING SECTION

Chris Pendroy, SIOR Senior Associate, Iowa Realty Commercial

INDUSTRIAL STRENGTH—BULK EXPERIENCE

A central Iowa native, Chris Pendroy, Development Company to market and SIOR is a senior commercial real lease their new 182,000 square foot estate professional for Iowa Realty speculative bulk warehouse in Grimes, Commercial with a career spanning Gateway Industrial Center, a project over 19 years in the business. Chris 100% leased prior to completion. has sold or leased over 9,000,000 Chris is a trusted advisor having square feet of space. Chris offers assisted many clients, from local small proven expertise with industrial, retail, businesses to global Fortune 500 RIÀFHODQGDQGLQFRPHSURGXFLQJ companies, in making informed real investment properties. HVWDWHGHFLVLRQVDQGÀQGLQJWKHEHVW possible solution for their business and Chris was involved in some of Des investment needs. Moines metro’s largest industrial transactions this past year. Recently, If you are looking to buy/lease or he successfully represented Opus looking to sell, please call Chris today.

[email protected] | 515-402-6600 SPECIAL ADVERTISING SECTION

Tom Hudson Commercial Agent, Iowa Realty Commercial

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7RPDQGKLVZLIH/DXUDZKRZRUNVIRUWKH ,RZD%RDUGRI1XUVLQJDUHWKHSDUHQWVRI WZRGDXJKWHUVWKHJUDQGSDUHQWVRIÀYH VHDVRQWLFNHWKROGHUVDW.LQQLFN6WDGLXP RZQHUVRID+DUOH\'DYLGVRQDQGYROXQWHHU MDQLWRUVDWWKHLUFKXUFK

[email protected] 515-777-5684 SPECIAL ADVERTISING SECTION

Jordan Bouslog Commercial Real Estate Agent, Iowa Realty Commercial

Jordan Bouslog was born and raised in Urbandale, Iowa, and graduated from Urbandale High School in 2009. He graduated from the University of Northern Iowa in May 2014 with degrees in Business Administration, Real Estate and Finance.

Jordan joined Iowa Realty Commercial in June 2014. As a new agent, he quickly learned the importance of building his reputation, having high integrity and a strong dedication to customer satisfaction. Jordan is a high energy individual and will do whatever is necessary to accomplish his client’s goals. Jordan is results driven.

Jordan closed over $3.75 million in transactions KLVÀUVW\HDUDW,RZD5HDOW\&RPPHUFLDO%\ doing so, he earned his way in to the President’s Club and was awarded the 2015 Rookie of the Year Award.

Jordan is actively involved with many local service organizations, boards and industry groups. He proudly partners with his fellow brokers at Iowa Realty Commercial to bring unique and valuable solutions to his clients in the market.

Besides business activities, Jordan enjoys being physically active by traveling, snowboarding, playing basketball and golf. He also enjoys spending time with friends and family, and his two-year-old Silver Labrador Retriever, Opie.

Please call or email Jordan to talk about how he can help you achieve your commercial real estate needs.

[email protected] 515-402-9131 SPECIAL ADVERTISING SECTION

Marc Lee [email protected] | 515-988-2568 Jill Olofson [email protected] | 515-991-9452 MARC LEE & JILL OLOFSON Iowa Realty

Expect world-class service with We are dedicated to serving you unmatched results from this with enthusiasm, professionalism, dynamic duo! Marc Lee and Jill honesty, a high level of ethical Olofson are a husband and wife standards, integrity, and experience. real estate team who know real estate well. Both grew up in the Marc and Jill are members of area and love Des Moines and all it the Des Moines Area Association has to offer. They have an extensive of Realtors, the Iowa Association knowledge of the metro area and the of Realtors and the National suburbs and stay on top of current Association of Realtors. They real estate trends in their ﬁ eld. are both certiﬁ ed relocation professionals. Year after year, Marc and Jill’s goal is to surpass they’ve achieved several awards your expectations through the for their service in real estate and process of buying or selling your they rise above the standards. home and ensuring that all the details are handled properly with your best interest at heart. “We love what we do! Our clients become family and friends to us” says Marc.

Nathan Drew Broker Associate, Iowa Realty Commercial Lot & Development Ground Sales

Since 2009, Nathan Drew has Nathan keeps an ongoing inventory focused solely on brokering lot sales of all developed and ready to build on and land acquisitions for residential, lots throughout the metro, along with commercial, multi-family, and fringe development ground. Paired industrial development in Central with new construction market data, Iowa. To date, he has contracted this inventory is used to help advise approximately 1,000 lots. clients on developing successful projects to meet the market. The With Nathan’s expertise in tracking, projects that Nathan is currently interpreting, and marketing Iowa marketing can be found on his development, he has earned the website, www.TheLotBook.com or trust of top local and out of state on his app which can be found on builders, developers, landowners, the App Store by searching The and banks. These relationships have Lot Book. Best of all, it’s free! led to Nathan being recognized as the Top Development Land Broker Please call or email Nathan to talk for Iowa Realty Commercial, year- about your existing development to-year since 2012. or development ground.

[email protected] | 515-480-0712 Facebook/Twitter/Instagram: @TheLotBook SPECIAL ADVERTISING SECTION

Linda M. Gibbs Senior Vice President, CCIM, SIOR Timothy J. Sharpe Senior Vice President, CCIM, SIOR

SHAPING THE INVESTMENT to up their game that has proven to set them national investors wanting to invest in Iowa. REAL ESTATE MARKET IN IOWA apart in the industry.“We recognized there Gibbs and Sharpe are two of the most were a large number of private investors, knowledgeable investment brokers, with Linda Gibbs and Tim Sharpe are both locally and nationally, looking to invest RYHU%LOOLRQZRUWKRIWUDQVDFWLRQVLQ known experts in the real estate industry. in real estate and no one was catering to years. That kind of volume brings instant With more than 65 years of experience their needs,” explains Gibbs. credibility to their clients. collectively, they have successfully undertaken an enormous amount of 7KHDIÀOLDWLRQZLWK&%5(DVVLVWHGWKHP When asked the secret to their success, they transactions. LQSLRQHHULQJWKH&DSLWDO0DUNHWV give this advice: Have a passion for what Investment Properties platform specializing \RXGREHFRPHDQH[SHUWLQ\RXUÀHOGEULQJ In 2002, this husband and wife team in investment real estate. With a proprietary consistent follow-through to your clients and decided to exclusively concentrate on GDWDEDVHRIRYHUTXDOLÀHGLQYHVWRUV most importantly, act with integrity. investment real estate – a determined effort they are able to reach out to local and

515-440-2900 I [email protected] 515-440-2902 I [email protected] SPECIAL ADVERTISING SECTION

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࠮-<5+(4,5;(3:(9,:;965.! Retail ࠮90:05.05;,9,:;9(;,:! The Federal (from left to right) sales in the Des Moines MSA were nearly Reserve is expected to raise prime interest Michelle Drummer $9.8 B in 2016 up 4.5% from 2015. Average rates throughout the year which will [email protected] HH Income also rose by 4.7% to $83,547. increase the cost to borrow funds. While 515-221-6655

Population grew to over 620,000 and we are still enjoying historic lows, any Tyler Dingel, CCIM unemployment remains low around 4%. All increase in funds will have an adverse [email protected] of these factor into a strong and supported LɈLJ[VUYLHSLZ[H[L]HS\LZ 515-221-6662 growth cycle. ࠮+6>5;6>530=05.! People looking ࠮5,>*65:;9<*;065+90=,:9,5;:! to move downtown will have plenty of Todd Millang, CCIM Increased costs of labor and construction options for places to live, work, shop, [email protected] 515-221-6677 materials are driving rents to never before HUKKPUL(SVUN^P[OUL^VɉJLHUK seen highs across all real estate segments. retail space under construction, there are Ajdin Nadarevic We have seen asking rents as high as $38/ currently 2,267 units planned for delivery [email protected] :-555YL[HPS :-555VɉJLHUK in 2017, over doubling the unit count from 515-221-6684

$5.25/SF NNN (Industrial). 2016. How quickly the market can absorb Katy Essing these units is yet to be seen. ࠮5,>9,;(03,9:/,(+,+6<9>(@! [email protected] With the opening of the Outlets in Altoona The ࠮,516@;/,=0,>-964;/,;67! 515-221-6663 and new developments at Kettlestone, market is at or near the top of the growth Prairie Trail, and around Jordan Creek and cycle. We cannot be sure when the market Riley Hogan downtown, expect to see new national will turn but for now, enjoy the view from [email protected] brands entering the market. the top. 515-221-6683 SPECIAL ADVERTISING SECTION

Adam Kaduce Vice President, R&R Realty

Adam Kaduce is the winner of R&R Realty Group’s 2016 Rain Maker Award, a recognition for leasing the most space to new customers.

Adam Kaduce is active in the Des Moines real estate community, driving results for his customers. He has been active in Leadership Iowa, the Iowa Events Center Hilton Hotel, the Greater Des Moines Leadership Institute, was a Business Record Forty Under 40 and recognized as an Emerging Leader in Industrial Real Estate by RealEstate Forum Magazine. Adam says, more important than the awards, are the opportunities to serve the Des Moines business community.

When asked what drives him, he offered, “It’s simple. Our mission is to Set the Standard in everything we do. It is not about me, it is about the clients we serve. We take a long term approach to build solid relationships of trust and provide value driven results for our clients.”

When asked about the changing real estate market in Des Moines, he was quick to point out that it is the consultative approach that he and his team utilize with each client that makes the difference. “Setting the Standard” is providing our clients with real estate, design, construction, technology, and ongoing management expertise. Each step of the process, we are there to offer value, that is our standard,” Kaduce said.

[email protected] 515-205-9209 SPECIAL ADVERTISING SECTION

Tom Gayman Senior Vice President, R&R Realty Group, Real Estate Advisors

Experience Matters.

After 30+ years and hundreds of deals in the Greater Des Moines area, I’ve learned one thing: experience really does matter.

0\H[SHUWLVHZLOOEHQHÀW\RXURUJDQL]DWLRQZKHQ commercial real estate needs arise. You’ll discover my consultative style coupled with extensive marketplace knowledge will result in the very best deal for you.

I’d love to show you the best of what R & R has to offer and roll-out the RED (and green) CARPET to your new RIÀFH

515-974-5226 OFFICE

515-707-6635 CELL SPECIAL ADVERTISING SECTION

&KULVWRSKHU6WDĳRUG Senior Vice President & Director, CCIM

As a proud Des Moines native, *OHW[LYHUKOHZILLUYLJVNUPaLK *OYPZ[VWOLY:[HɈVYKOHZ HZH+LZ4VPULZ)\ZPULZZ9LJVYK ^P[ULZZLKÄYZ[OHUKJLU[YHS0V^H»Z ¸-VY[`H`»Z*HWP[HS ZLY]LKHZ7YLZPKLU[VM[OL0V^H**04 *HTWHPNU*HSSPUN*HIPUL[

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John W. Viggers Regional Vice President & Director, CCIM, CPM

COMMERCIAL REAL ESTATE SERVICES, WORLDWIDE

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Q]PNNLYZ'UHPVW[PT\TJVTc c SPECIAL ADVERTISING SECTION

Ben Garrett Sales Associate for Brokerage Services

Ben attended the University of )PN:PZ[LYZVM*LU[YHS0V^HMVY Northern Iowa where he received years and is currently on fundraising H)HJOLSVYVM(Y[ZPUIV[OÄUHUJL committees for the Moonlight and real estate. He has worked *SHZZPJILULÄ[[PUN6YJOHYK7SHJL as an asset manager for Principal and the annual Human Foosball Financial Group and American [V\YUHTLU[ILULÄ[[PUN@V\[O Equity and was a Business Emergency Services & Shelter. +L]LSVWTLU[6ɉJLYH[>LSSZ-HYNV until he came to Knapp Properties, )LUZLY]LZHZ[OL*OHPYMVY[OL Inc., in 2014 in his current role. HYYLU*V\U[`,JVUVTPJ >H`VM*LU[YHS0V^HZLY]PUNHZ +L]LSVWTLU[*VYWVYH[PVUHIVHYK a member of the PFG Leadership TLTILYMVY@4*(/LHS[O`3P]PUN .P]PUN*VTTP[[LLHUKHZ[OL *LU[LYHUK;YLHZ\YLYMVY[OL *OHPYWLYZVUMVY,TLYNPUN Metropolitan Business Association Leadership Initiative. Ben has breakfast club. been a Big Brother with Big Brothers [email protected] | 515-401-7071

Brian Erickson Senior Vice President of Brokerage Services

Brian’s responsibilities include Brian has attained the CCIM seller and buyer representation and designation, is a member of the marketing of Knapp Properties’ Iowa Commercial Real Estate portfolio. Brian attended Simpson Association, a past president College and Grandview University of the Urbandale Development before joining RadiSys Corporation Association, and is a board member in 1997 as the Manager of for the Northern Polk County Global Real Estate and Facilities. Pheasants Forever chapter. Together Following RadiSys, he spent 10 with his wife, Betty, he has 3 adult years as a commercial broker with children and 4 grandchildren. NAI Optimum. He joined Knapp Properties, Inc., in December of 2014 as Senior Vice President of Brokerage Services.

[email protected] | 515-202-5035 SPECIAL ADVERTISING SECTION

Cannon Clark Specialized Real Estate Marketing

Cannon Clark provides specialized valuable opportunities otherwise marketing of raw land and improved overlooked by the market. properties for select clients across As an independent consultant, central Iowa. With expertise in Cannon is able to serve as an both residential and commercial unbiased and trustworthy third- land-related assets, Cannon’s clients party for land owners. This unique range from small private land owners position has led him to closing to large builders, developers, and $100M+ in successful private end users. transactions in the Des Moines TL[YVV]LY[OLWHZ[Ä]L`LHYZ Being able to utilize a mixture of innovative real estate marketing, For more information on how to unrivaled market research, turn your dirt to dollars, contact and collaborative development Cannon directly at 515-650-3950 consulting services gives his clients or [email protected]. the capability to capitalize on [email protected] | 515-650-3950

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GLFNLQVRQODZFRP What do you see as a dominant many options for them to choose THEEXPERTS theme in the industrial market this from. With the lack of inventory year and going into next year? and with a strong market and rates MIKE BONNETT being fairly low, we’re seeing land development and sales tick up with vice president and commercial Chris Pendroy: Patience. Because current tenants wanting to own real estate adviser, R&R Real there’s still very low supply of industrial space in the metro area, their own real estate. Estate Advisors pretty much across all product lines, If you put your landlord’s hat on, whether it is flex office, warehouse, I think the theme for 2017 is life’s ANDY HODGES distribution, manufacturing, we’ve pretty good. It’s kind of a landlord’s market right now. You’re seeing vice president, Signature still got a very low vacancy rate annual bumps in rates. You’re seeing Commercial Real Estate here in this market, somewhere around 3 percent. It ticked up from longer term in deals. I think the last year due to some space hitting short month-to-month leases that MATT LUNDBERG the market, but I think overall, the you see a lot of logistic companies director and vice president, market is still very tight. searching for are tougher to find. Another thing is rent concessions NAI Optimum Mike Bonnett: I believe that the trend and tenant improvements, free rent, we’re going to see this year is there I think that has kind of gone to the CHRIS PENDROY is going to be more development. wayside. We’re not seeing as much senior associate & industrial We need more new inventory. I think free rent, and if there are tenant we’re going to see more development specialist, Iowa Realty improvements, we see the landlords and construction of more modern kind of pushing that off of the table. Commercial facilities. As you’re seeing right now, our clients are looking for better Andy Hodges: What we saw from the landlord’s perspective for the last MODERATORS locations, more convenient, quicker access to the interstates. I believe few years was a lot of tenants kind CHRIS CONETZKEY they’re looking for the higher of waiting until the last minute, just Business Record publisher clear heights. In this market, we’re kind of kicking the can down the pretty much building 32-foot-clear road. With the limited supply that KENT DARR we have, it backed a lot of them into senior staff writer buildings today. They’re looking for facilities that have more doors and a corner and a few lost out on space ESFR (fire suppression systems that opportunities. This stressed us a are favored by insurance companies little bit from a developer/landlord and can result in lower premiums). standpoint to perform in these short timelines that we were provided Matt Lundberg: I think from a at times. I’m seeing these flex and tenant’s perspective, you have to be these warehouse tenants starting to proactive in the market. I think that be more proactive. They’re coming this has been the theme for the past out a year, year and a half before the year or so. Typically when a tenant expiration of that current lease. would engage their broker to start I think from our perspective, the either renewal or looking for new market continues to be strong, the space, that would usually start, call landlord-type market. I think the it, six to nine months before their one thing we hope to see this year lease expiration. I think in today’s is that trend, as the office market market that needs to start at least, continues to heat up, of those A, probably, a year out because I think B users coming back down to that a lot of tenants are having a rude flex space. I don’t think we’ve seen awakening when they do go out to a lot of that transition the last few the market and there aren’t very years, but recently we’ve seen some

104 annual REAL ESTATE magazine INDUSTRIAL ROUNDTABLE Q&A A LANDLORD’S

MARKETBY KENT DARR

annual REAL ESTATE magazine 105 INDUSTRIAL: KEY POINTS

USERS NEED TO PLAN AHEAD SMALL SPACES IN BIG DEMAND INVEST IN INDUSTRIAL Warehouse space of all descriptions Large warehouse projects that top Lenders and investors like the and sizes is in tight supply, even with 200,000 to 300,000 square feet industrial market for several reasons. plans for more large buildings on grab a lot of attention, but not to get One reason is something called rent the books. With low vacancies, users ORVWLQWKHVKXIŶHDUHVPDOOVSDFHV escalators or bumps. Those annual should start looking for new space up for smaller users. Warehouses that 1 to 2 percent increases in lease to 18 months before current leases are less than 200,000 square feet rates have been common in larger expire. At least one seasonal user is account for about 80 percent of the markets for several years, and they are willing to let their space sit idle for inventory in Greater Des Moines. One increasingly common in Greater Des part of the year, knowing that it will EURNHULVKDYLQJGLIŵFXOW\ŵQGLQJ Moines over a range of commercial be available when the time comes to lease space for a client who needs a real estate segments, including UHŵUHRSHUDWLRQV mere 1,800 square feet. industrial.

inquiries — office users looking at today’s market if you don’t educate so I think it’s really enhanced the our class A flex space. So we kind your clients, they might have Des Moines market. of see that becoming a trend here in somewhat of a rude awakening 2017, maybe into 2018. knowing that they’re not going to Are we slow to build here? get all the concessions they got the I think with the Des What’s driving office users to the first go-round. Lundberg: flex space? Moines market, we’re a secondary We started doing the annual market. The Kansas City market I just think it’s price point. Bonnett: Hodges: escalations a little over two years has done something that I think is I mean, look at some of the new ago. Prior to that we were doing ... if very interesting for a market that’s construction, this class A stuff. ... it was a five-year lease maybe we’d two and a half, three hours away. I think you’re seeing some rent have a rent bump at year three, so They’ve got a park called Kansas appreciation in class B a little bit. I it’d be the same for year one and two City Logistics Park. What that is think it’s just a pricing thing. I mean and a bump year three, or year two is a 1,700-acre master planned it’s $9, $10 net rents up to $17, $18 and three and five, or two, four, five. development that’s both rail-served net rents. I think some of them are The annual rent bumps were more and it’s served by four different starting to reconsider, as they come consistent with what is happening interstate systems. What’s fascinating up on these lease expirations, some in other markets that we compete about it is it has a capacity of up to of them are looking at some of this with here in the Midwest. That really 17 million square feet of industrial class A flex product and looking at helped us get that started but it was space. If you just think about that, the potentially lower price point. more so in the office and in the retail, that’s pretty wild. Amazon.com Inc. did a 900,000-square-foot facility What is driving the annual and industrial has not so much of a history of having annual rent bumps. down there. Des Moines always feels rent increases? five to 10 years behind Kansas City, Lundberg: I think it’s just a sign of Pendroy: I started my career in but now things are starting to get a strong market, especially when a Minneapolis working seven years in closer to the Des Moines market. I tenant comes up for renewal. Let’s industrial, and there the rent bumps think it’ll be interesting to see the say they get a five- or seven-year are the norm. In major markets they next five to 10 years what happens deal. When they first struck that have been for many, many years. in Des Moines. We do kind of trail initial lease, they were probably I think with Des Moines having Omaha and Kansas City, some of expecting and probably getting a grown into that next level with these larger markets, but I think it’s flat rate for that entire term. Maybe institutional-grade product, it’s just a matter of time until things get they got a large chunk of free expected to see rent bumps if you’ve here as well. rent with that, maybe they got a got national investors coming in to Kansas City has a larger generous TI (tenant improvement) take a look at this market. And it population, larger labor force; allowance as well. I think that in adds value to the property overall, manufacturing is larger there. With

106 annual REAL ESTATE magazine OFFICE AND RETAIL, LOCATION CUTS DELIVERIES MEET INDUSTRIAL DOWN TO THE LAST MILE :DUHKRXVHDQGŶH[VSDFHŏWKDW :DUHKRXVLQJWDNHVDORWRIVKDSHV EURDGFDWHJRU\LQWKHLQGXVWULDO XQGHUFKDQJLQJGHŵQLWLRQV-XVWOLNH PDUNHWWKDWLQFOXGHVURRPIRU UHWDLOHUVVKLSSHUVZDQWWREHFORVHU ZDUHKRXVHOLJKWPDQXIDFWXULQJDQG WRURRIWRSVDQGWKDWPHDQVFXWWLQJ RIŵFHŏLVEHFRPLQJLQFUHDVLQJO\ WKHGLVWDQFHRIGHOLYHULHVGRZQWR SRSXODUZLWKQRQWUDGLWLRQDOXVHUV WKHODVWPLOH7KDWVWUDWHJ\LVJRRG 6SRUWVDQGŵWQHVVRSHUDWLRQV IRU*UHDWHU'HV0RLQHVDQGFRXOG DUHWDNLQJXSVKRSLQKLJKFXEH EULQJODUJHIXOŵOOPHQWRSHUDWLRQV ZDUHKRXVHEXLOGLQJV+\9HH,QF VXFKDV$PD]RQFRP,QFDQGRWKHUV WRRNDORRNDWDODUJH5 55HDOW\ FORVHUWRRXUQHLJKERUKRRGV ZDUHKRXVHLQ*ULPHVDQGVDZD K\EULGRIŵFH MIKE BONNETT

e-commerce continuing to explode, If you’re going to push that into I think you’re going to start to see secondary and tertiary markets, larger bulk facilities around the you’re going to have to have a Midwest. But those bulk facilities presence in those markets. are going to need smaller fulﬁllment Matt or Chris, let me ask centers. Consumers now, and in Hodges: you guys, are these users, these the next couple years, are going to ANDY HODGES distributors, the e-commerce, are they demand if they click the buy button changing their selection criteria? I’ve this morning they want the good been reading a lot about wanting to this afternoon. So I think you’re get closer to rooftops, almost like a going to see a lot more need for retailer. Have you seen that? smaller facilities in smaller markets. They’re looking for that Bonnett: I think when you compare Bonnett: last mile. I mean, right now that’s the Des Moines market to, say, kind of the buzzword, that last mile Kansas City, traditionally we’ve is getting closer to the rooftops. been considered a secondary, or So with that, they are coming into really a more tertiary market in the markets like Des Moines. logistics world. We can be serviced, same day, from Kansas City. We Pendroy: When I started in can be serviced, same day, from Minneapolis 15 years ago, they were Minneapolis, so it’s kind of where just starting the 32-clear product. MATT LUNDBERG we fall within that traditional I moved back here in 2006, and we network of distribution centers just weren’t a 32-clear market at across the country. that time. (When) the ﬁrst 32-clear I think that for Des Moines, building went up in Greater Des you’re going to continue to see the Moines, it was successful. Having newer facilities here in the size that product now gives us a good ranges of maybe 200,000 square feet look at companies that are doing a to 300,000 square feet. regional search, and I think that’s a great thing for Des Moines. Where’s Amazon? Conetzkey: Not to put too much Pendroy: Well, I think the driver into the retail component, but with behind that’s going to be their Amazon doing this and Walmart platform of same-day delivery. doing this, are we going to see some

CHRIS PENDROY

annual REAL ESTATE magazine 107 other retailers that maybe aren’t Hodges: Yeah, distribution Bonnett: I would agree with that. I quite that large trying to look for a companies, (third-party logistics think the industrial properties are space and do something similar? companies). We’ve had some attractive for the investors and for spillover from the Microsoft projects those reasons. For the longer-term Lundberg: I think it’s just the around town, different contractors leases as well as low investment world we live in. Just picture how coming in needing large chunks of dollars in tenant improvements you purchase goods now. I think space for a two- to three-year period compared to office build-outs. There technology and just the way we with, again, you know, Facebook are not a lot of cash calls in a 10- live right now is going so fast that and Microsoft — the ripple effect of year industrial lease. I think for us to be in this business those projects. and kind of focus on industrial is Hodges: Yeah, I think it’s a real extremely exciting. ... We’re going to Are there any trends that bother lucrative property buy, whether it’s see a lot of new companies looking you? Are land prices too high? Do the lender or potential investors or for markets like this. you see anything that you view as buyers, it’s a favorable property buy. Pendroy: I read recently that kind of a yellow flag? FedEx is going to start doing Hodges: I don’t know about land Are there some barriers that you private packaging and shipping prices. We talk a lot about the ag would like to see removed? If we for companies that don’t have the industry. I don’t think people realize have this abundance of land, it platform like an Amazon. So ABC or how many ag-related companies seems like such an opportunity whatever company is now going to occupy space, especially in the long term for the city to position go to FedEx and they’re going to be, northwest suburbs. We have not seen itself to do well. basically, a contract shipper for them it yet, but I think every year that to get their products out. I think Pendroy: Yeah, intermodal in Kansas goes by and grain prices and all the FedEx is another one to watch here City was, I think, the driver for all other commodity prices continue in the way they are going to expand the quick growth of large warehouse to stay down, you have to wonder their model nationally to take down there. I’m sure there were if you’re going to start seeing some advantage of those retailers that are state and local governments softening there. That’s the one thing doing a lot of online business. involved with that as well. I think we try to keep our eye on. also the railroad was probably a big I was reading a stat that driver of that. It’s going to take a Hodges: Pendroy: With the distribution users, by 2020 e-commerce will be a their interest is just about quick multifaceted group of railroad, city, $500 billion-plus industry. I mean, access to the interstates. (That could state and private money, developers. today you’re at $300 billion. I think include) Altoona or Norwalk, where It takes a lot of infrastructure, and I something like that benefits the Des they have some industrial parks think it wouldn’t hurt our city to at Moines market. established and the land prices are least continue to explore it. still a little lower basis than, say, Conetzkey: You guys are really Ankeny or Grimes. I think those are Is there any part of the seeing positive pressure from two going to be looked at a little more in transportation system that could angles, then, if office space users are the coming years than some of the stand some improvement that looking at industrial. Maybe there’s other parts of the metro. would foster more growth? an option here along with retailers looking at that. Lundberg: I think it will be Are industrial properties a pretty interesting to see with the Highway Hodges: Well, you look at all these attractive investment? Are they 5/65 bypass. I know there’s talk big boxes, and a lot of them are difficult to finance? about getting that switched over to downsizing. Their sales are up, an interstate and what that will do they’re reducing their brick and Pendroy: Lenders like industrial both for transportation as well as mortar footprints; their product is right now, from what I’m seeing development. going somewhere. out there. Some lenders have to get comfortable, depending on what How much of a deterrent is it when Andy, you folks are working on kind of industrial product it is. If it is not actually classified as an 500,000 square feet, something it’s flex, you might have more of the interstate? I know it has been one like that, at the former R.R. five-year average lease, and some of the arguments for classifying it Donnelley facility. Who is looking lenders can’t get comfortable with that way. at the existing space? We’ve been five-year versus out where you’re talking a lot about new build, but seeing some of the larger bulk Bonnett: They are looking for there is a fair amount of existing warehouse deals, you hear 10-year four-lane access in and out of space that is available. deals for a larger tenant, so they are where their facilities are located. a bit more comfortable with that. You look at an impact of how

108 annual REAL ESTATE magazine transportation, not specifically the Bank told us recently that he really as Andy mentioned, is where’s our infrastructure, but if you look at isn’t sure why that cash isn’t being ag sector going to go, and how is the tractor-trailer situation right deployed. So it’s interesting to hear that going to affect Iowa? We were now, there’s a shortage of drivers. you saying that people might start somewhat sheltered and spoiled The stat that I pulled up when I to deploy some of that. during the downturn because of the was doing my research for this strength of the ag sector, whereas The Wall Street Journal was that by 2022 we are going to Bonnett: this time around that may or may reported after the election that the be short something like 239,000 not change. outlook for GDP growth is strong drivers. So what that’s doing is it’s and we were poised for growth forcing the logistics guys to locate Hodges: And you compound that in the next five years in GDP. So facilities that can maximize the with potentially a stronger dollar again, I mean, based on that kind driver hours. It’s shortening the and NAFTA and all these things of information that you hear in unload time. It’s making it quicker you hear in the news right now. the market along with what we for them to get reloaded. So having What impact does that have on that see on a daily basis in this market, the infrastructure set up so that sector? Yet to be determined, I guess. we feel confident that we’re going we can create more facilities with to have strong activity in the Des Bonnett: A couple of the industries the ease of access to get a tractor- Moines market, I’d say, at least for that we’re seeing some activity in trailer in and get them out in a short the next three to five years. We’re is bio-ag sciences. I mean, we’ve amount of turnaround time I think still building product because got the Cultivation Corridor going is critical. we’re anticipating these people on here and it seems like there’s an emerging market with the bio-ag I saw a story the other day that coming, not just from the existing science startups and companies that UPS will send their trucks out and market but new manufacturers, new are treating corn, treating beans, with drones finishing off deliveries distributors, new light industrial coming up with big processes for in rural areas. logistic users. pollination. I think that’s a driver Lundberg: It’s really interesting how Pendroy: I think what R&R’s doing, and a market to watch. we’re going to develop and adapt in you know, with 250,000 square feet And the other is wind energy. the next five to 10 years just with of speculative construction, if that There’s going to continue to be more how the world is changing. doesn’t show confidence, I don’t opportunities with folks in the wind know what does. industry. We have one that came What are you anticipating on in last year. And, again, you talk the economy? Lundberg: And that’s something that about product type. I mean, we put we haven’t seen in years. We’ve got up Prairie Business Park One at 32 Pendroy: I still think there’s pent-up R&R’s Prairie Business Park part clear, and that allowed this wind demand out there. We haven’t really two; Hubbell’s building number four, energy company to come in and set touched on manufacturing in the which is 110,000 square feet, will up a training center because they industrial sector. Here in the metro, be available in June. You’ve got the needed the clear height. So inside over the past year you’ve seen EP2 Graham Group doing 300,000 feet on the building they have set up a wind (Electrical Power Products Inc.) Delaware Avenue. I mean you’ve got turbine. Now, it doesn’t have the build 180,000 square feet south of a lot of people building spec right blades on it. But they set that up so town by the airport to expand its now, and I think that’s one thing to they could do all their tech training operation. You have the Baker Group watch this year is to see how that and stuff in there. that put their new 140,000-square- gets absorbed. I think all signs point foot campus near Ankeny. That to “yes,” but time will tell. growth, I think, has been partly spurred by the Facebooks and Are there signs of more growth on Microsofts, just the building that’s the manufacturing side? going on because of those and all the things you’re seeing downtown. Pendroy: You know, if we had been A lot of these companies have been talking five years ago, eight years holding cash on the books for some ago, and you went and looked in time, and I think you’re going to see rural Iowa, the number of plants them start to loosen some of that that were available or shut down, cash and do some expansion. they sprinkled the countryside here in Iowa. I’d say most of that space Conetzkey: It’s funny you bring that has been absorbed by companies, a up. We’ve been hearing for a long lot of them ag-related. I think you’re time that everybody is holding going to see that sector continue their cash. Dave Nelson from West to grow. The question right now,

annual REAL ESTATE magazine 109 INDUSTRIALSPACE

This map illustrates how the industrial listings Due to space constraints, not all commercial are classified according to location. The real estate properties are listed. Listings have individual districts have been identified by the been cut by minimum space requirements as Xceligent Industrial Advisory Board and are identified at the top of each list. specific to the industrial category. Many business parks have multiple buildings Only cities in the Greater Des Moines and/or lots available. Due to space constraints, metropolitan area are included in this guide some of these listings were condensed. For (as defined by the Chambers of Commerce/ complete information on any given property, Organizations that are affiliates of the Greater please contact the listing agent. Des Moines Partnership). All listing data is provided by Xceligent, Listings are grouped by location corresponding specializing in commercial real estate. to the map districts. Corrections need to be communicated to Xceligent directly.

110 annual REAL ESTATE magazine | SOURCE: Exchange Solutions by Xceligent with total available of 3,500 SF or greater INDUSTRIAL for SALE

315 SW 14th St 31,148 Existing 31,148 $1,950,000 The Siedenburg Group-Des Moines 315 SW 14th St 1969 1 Douglas Siedenburg, (515) 223-6222 Des Moines, IA 50309 1987 [email protected] North

Albaugh Industrial Park 60,000 Existing 60,000 $3,240,000 Alpha One 6046 NE Industry Dr 2014 1 Dave Vance, (515) 964-9411 Des Moines, IA 50313 [email protected] MYA Logistics 78,000 Existing 78,000 Negotiable Alpha One 6096 NE Industry Dr 2016 1 Dave Vance, (515) 964-9411 Des Moines, IA 50313 [email protected] 1500 Delaware Ave 220,093 Existing 220,093 $6,600,000 CBRE/Hubbell Commercial 1500 Delaware Ave 1950 1 Marty Herrmann, (515) 221-6653 Des Moines, IA 50317 1993 [email protected] 1403 SW Ordnance Rd 7,920 Existing 7,920 $594,000 Denny Elwell Company 1403 SW Ordnance Rd 1970 1 Darcy Gill, (515) 964-1587 Ankeny, IA 50023 [email protected] 1962 NE Aurora Ave 9,480 Existing 10,572 $800,000 Denny Elwell Company 1962 NE Aurora Ave 1968 1 Bill Gardner, (515) 964-1587 Des Moines, IA 50313 1990 [email protected] 2100 Dixon St 29,400 Existing 29,400 $1,500,000 Denny Elwell Company 2100 Dixon St 1998 2 Leasing Sales, (515) 964-1587 Des Moines, IA 50316 2001 [email protected] 145 NE 46th Ave 3,792 Existing 3,792 Negotiable Iowa Realty Commercial 145 NE 46th Ave 1985 1 Jordan Bouslog, (515) 453-5473 Des Moines, IA 50313 2007 [email protected] 2201 E 17th St 14,085 Existing 14,085 $895,000 Iowa Realty Commercial 2201 E 17th St 1985 1 John Knapp, (515) 453-5467 Des Moines, IA 50316 1996 [email protected] 33-145 NE 46th Ave Portfolio Sale 7,344 Existing 7,344 Negotiable Iowa Realty Commercial 33 NE 46th Ave 1985 1 Jordan Bouslog, (515) 453-5473 Des Moines, IA 50313 [email protected]

4905 Hubbell Bldg 1 Iowa Realty Commercial Construction State: Existing 4905 NE Hubbell Ave Mick Grossman, (515) 222-0000 Year Built/Renovated: 1979/2014 Des Moines, IA 50317 [email protected] Building Size: 36,000 Number of Floors: 1 36,000 SF Available Sale Price: $1,980,000

South

1700 Maury St 140,000 Existing 213,577 $3,500,000 CBRE/Hubbell Commercial 1700 Maury St 1954 3 Marty Herrmann, (515) 221-6653 Des Moines, IA 50317 1983 [email protected] 2245 Dean Ave 63,926 Existing 63,926 $1,450,000 CBRE/Hubbell Commercial 2245 Dean Ave 1953 1 Arny Engman, (515) 224-4900 Des Moines, IA 50317 1992 [email protected] 1901 E University Ave 74,885 Existing 74,885 $1,400,000 Iowa Realty Commercial 1901 E University Ave 1949 1 Chris Pendroy, (515) 453-5450 Des Moines, IA 50316 1991 [email protected] 3800 Vandalia Rd 7,600 Existing 7,600 $775,000 Iowa Realty Commercial 3800 Vandalia Rd 1978 1 Mick Grossman, (515) 222-0000 Des Moines, IA 50317 [email protected] SW of Kennedy St and 168th St 20,256 Existing 20,256 $640,000 Iowa Realty Commercial Kennedy St 1970 1 Tim Day, (515) 564-9166 Indianola, IA 50125 [email protected]

SOURCE: Exchange Solutions by Xceligent | annual REAL ESTATE magazine 111 INDUSTRIAL for SALE with total available of 3,500 SF or greater

BUILDING NAME TOTAL AVAILABLE CONSTRUCTION STATE BUILDING SIZE SALE PRICE LISTING COMPANY ADDRESS MAXCONTIGUOUS SPACE YEAR BUILT NUMBER OF LISTING AGENT, PHONE CITY, STATE ZIP MINDIVISIBLE SPACE YEAR RENOVATED FLOORS EMAIL 4750 Vandalia Rd 22,000 Existing 22,000 $925,000 NAI Optimum 4750 Vandalia Rd 1976 1 Chris Thomason, (515) 309-6707 Pleasant Hill, IA 50327 [email protected] 3007 N Jefferson Way 19,584 Existing 19,584 $975,000 RE/MAX Real Estate Group 3007 N Jefferson Way 1996 1 Don Godwin, (515) 210-4406 Indianola, IA 50125 [email protected] West

800 New York Ave 96,600 Existing 96,600 $3,250,000 CBRE-Minneapolis 800 New York Ave 1967 1 Andy Lubinski, (952) 924-4872 Des Moines, IA 50313 [email protected] 3520 SW 9th St 4,500 Existing 4,500 $105,000 CBRE/Hubbell Commercial 3520 SW 9th St 1955 1 Ajdin Nadarevic, (515) 221-6684 Des Moines, IA 50315 [email protected] 600 Holcomb Ave 56,788 Existing 56,788 $1,500,000 Century 21-Signature 600 Holcomb Ave 1979 2 Laurie Culp, (515) 291-1522 Des Moines, IA 50313 2008 [email protected] 2300 SE 37th St 13,376 Existing 13,376 $906,000 Ferguson Commercial Real Estate Services 2300 SE 37th St 1992 1 Michael Shindler, (515) 309-0905 Grimes, IA 50111 [email protected] 1915 SE 41st St 10,500 Existing 10,500 $825,000 Iowa Realty Commercial 1915 SE 41st St 2000 1 Mick Grossman, (515) 222-0000 Grimes, IA 50111 [email protected] Thornton Ave Portfolio Sale 28,992 Existing 28,992 $2,900,000 Iowa Realty Commercial 6151 Thornton Ave 2000 1 Mick Grossman, (515) 222-0000 Des Moines, IA 50321 [email protected] 3600 Army Post Rd 407,938 Existing 407,938 Negotiable JLL-Des Moines 3600 Army Post Rd 2002 2 Heath Bullock, (515) 554-7412 Des Moines, IA 50321 [email protected] 4401 112th St 36,179 Existing 36,179 Negotiable JLL-Des Moines 4401 112th St 1985 1 Heath Bullock, (515) 554-7412 Urbandale, IA 50322 [email protected] Imperial Industrial Park 41,700 Existing 41,700 $1,800,000 Knapp Properties, Inc 5346 Merle Hay Rd 1973 1 Ben Garrett, (515) 401-7071 Johnston, IA 50131 2008 [email protected] Hickman Court Business Center 15,372 Existing 15,372 $899,000 Stanbrough Realty Company 10095 Hickman Ct 1991 1 Jeff Stanbrough CCIM, CPM, (515) 334-3345 Clive, IA 50325 [email protected]

Pomerantz Warehouse 186,712 Existing 186,712 Negotiable Terrus Real Estate Group, LLC 1245 Thomas Beck Rd 1955 1 Sherri Goode, (515) 471-4310 Des Moines, IA 50315 1956 [email protected] 10500-10582 Justin Dr 53,901 Existing 53,901 $4,400,000 Tessau Realty 10500 Justin Dr 1999 1 Angela Tessau, (515) 707-6889 Urbandale, IA 50322 [email protected] 3303-3329 109th St 40,590 Existing 40,590 $3,350,000 Tessau Realty 3303 109th St 2000 1 Angela Tessau, (515) 707-6889 Urbandale, IA 50322 [email protected] 3330 106th Cir 24,320 Existing 24,320 Negotiable Tessau Realty 3330 106th Cir 2000 1 Angela Tessau, (515) 707-6889 Urbandale, IA 50322 2007 [email protected] Ash Creek Industrial Park Bldg 4 75,000 Existing 75,000 $4,200,000 Tessau Realty 3100 Justin Dr 1977 1 Angela Tessau, (515) 707-6889 Urbandale, IA 50322 [email protected] Walnut Ridge Business Center 16,100 Existing 16,100 $1,320,000 Tessau Realty 3070 104th St 1996 1 Angela Tessau, (515) 707-6889 Urbandale, IA 50322 [email protected] 700 New York Ave 36,430 Existing 36,430 $910,000 Xceligent Inc-Greater Iowa 700 New York Ave 1952 1 Research Pending, (816) 303-5300 Des Moines, IA 50313 1994 [email protected]

112 annual REAL ESTATE magazine | SOURCE: Exchange Solutions by Xceligent BAILEY ROOFING CONTRACTORS

COMMERCIAL | INDUSTRIAL | NEW CONSTRUCTION | REROOFING

2017

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TRANSPORTATION PAY-AS-YOU-GO MOBILITY Society is moving toward pay-as-you-go mobility vs. personal car ownership.

IMPACT: Technology is advancing every day, making agencies are partnering with Uber and allowing alternative mobility options more seamless, convenient customers to pay for both services via one mobile app and cost-effective, especially considering that most cars so that riders can more seamlessly transfer from one are parked 95 percent of the time. New services like option to another. Uber, in conjunction with transit services, bike-sharing and more walkable communities, make for more robust A recent article by Deloitte pointed out that “Younger transportation options and will allow us to rely less on generations are leading the way toward pay-per-use personal cars in the future. mobility in place of owning a car; nearly 50 percent of Gen Y consumers like using a smartphone app for Many of Greater Des Moines’ planning efforts for the transport and already plan travel so they can multitask.” future — such as the Connect Downtown walkability study and the Tomorrow Plan — reﬂect these changing As we look to the future of Greater Des Moines, we need trends. The formation of the Transit Future Work to remember that mobility is changing rapidly and will Group by the Greater Des Moines Partnership also have a big effect on what our world looks like in 10 years. shows that business leaders understand that mobility options are essential to a strong economy. WAY TOO EARLY PREDICTION: In 10 years ... there will be more mobility options, Greater Des Moines is not alone in working and automated vehicles, fewer personal automobiles, thinking about mobility; most metropolitan areas building of less parking, repurposing and redeveloping across the country are working to improve and add existing parking. robust transportation options. For example, transit

ELIZABETH PRESUTTI CEO, Des Moines Area Regional Transit Authority

114 annual REAL ESTATE magazine CONSTRUCTION INVESTMENTS VERTICAL OVER INVESTMENT FLOW INTO HORIZONTAL DES MOINES STAYING STRONG The recession experienced earlier As the economic uncertainty continues around this decade is long gone. the world, the United States will continue to see a healthy ﬂow of foreign investment dollars. With much of the foreign investment going to the coasts, this will continue to push domestic investors into the heartland.

IMPACT: Construction concepts that were previously shelved IMPACT: Our metro is already seeing a strong growth during the recession have now either been executed or are in commercial real estate investments both from local largely being executed, and the impact of tighter requirements developers and investors, but also out-of-state investors. from lenders has had a domino effect on the bottom line of a In fact, we are in a capital-rich environment, which number of developments that braved the muddy waters early causes some companies to buy or build rather than lease. on in the post-recession cycle. This has a domino effect of changes in occupancy, What this ultimately translated to was a significant influx of tenant growth and expansion capabilities, and eventual low-rise, wood-framed commercial projects nationwide, where opportunities for investors to come into assets that the cost per square foot is more desirable compared to that of previously were not available or not as attractive. concrete or steel structures. Less complex sites and slam-dunk opportunities are now few and far between, resulting in a shift More investment dollars in Iowa, growth and expansion in to urban infill, zero lot line, vertical-style construction. Iowa companies, an increased appetite for investors to keep their assets with stable returns in Iowa long term as the Though this trend has held true in other markets, it now seems economy starts to soften in the coming years. to be taking hold locally, with large-scale, vertical, luxurious projects being proposed on infill, downtown, urban sites. These WAY TOO EARLY PREDICTION: projects are amenity-rich and offer all the conveniences one In 10 years ...Millennials and baby boomers will be would desire. While the concept is exciting and intriguing, the in their next life stage, and many won’t want to be construction complexities, challenges, flow and execution are apartment dwellers. This would cause an excess of also unique and require a specific skill set that many do not vacancy in the downtown area where high-rise office possess due to the infancy of the trend. buildings have been converted to multifamily space. I predict in 10 years we will start to see the conversion The shift toward vertical communities truly lends itself to a of the lower floors of multifamily convert back to office live, work, play “connectedness” that encompasses multiple space so buildings have more of a blended atmosphere of generations from millennials seeking independence and retail, office, shared amenities and multifamily. As for the convenience through to business professionals and retirees next generation, they will likely want to live in converted seeking quality, luxury and simplified living. boxcars and floating houses made from recycled materials, so that will be a trend to watch for further Having the ability to walk to work, run home for lunch, and down the road. enjoy after-hours drinks all within a few blocks of one’s residence is very enticing and will be a catalyst for the further development of the thriving downtown Des Moines culture. JACKIE JOHANSEN Director of acquisitions and arokerage, R&R Equity Partners Inc. ANDREW BEAL Co-owner, Beal Derkenne Construction

annual REAL ESTATE magazine 115 INDUSTRIAL for LEASE with total available of 9,500 SF or greater

315 SW 14th St 31,148 Existing 31,148 $3.75 The Siedenburg Group-Des Moines 315 SW 14th St 31,148 1969 1 NNN Douglas Siedenburg, (515) 223-6222 Des Moines, IA 50309 7,500 1987 [email protected] North

6166 NE Industry Dr 18,000 Existing 18,000 $6.75 Alpha One 6166 NE Industry Dr 18,000 2016 1 NNN Dave Vance, (515) 964-9411 Des Moines, IA 50313 18,000 [email protected] 6166 NE Industry Dr Building 1 21,600 U/C21,600 $6.75 Alpha One 6166 NE Industry Dr 21,600 1 NNN Dave Vance, (515) 964-9411 Des Moines, IA 50313 21,600 [email protected] 6335 NE Industry Dr 30,000 Existing 30,000 $5.90 Alpha One 6335 NE Industry Dr 30,000 2012 1 NNN Dave Vance, (515) 964-9411 Des Moines, IA 50313 30,000 [email protected] Albaugh Industrial Park 60,000 Existing 60,000 $4.90 Alpha One 6046 NE Industry Dr 60,000 2014 1 NNN Dave Vance, (515) 964-9411 Des Moines, IA 50313 60,000 [email protected] Albaugh Industrial Park 18,000 Existing 48,000 $5.65 - $6.00 Alpha One 6290 NE Industry Dr 6,000 2015 1 NNN Dave Vance, (515) 964-9411 Des Moines, IA 50313 6,000 [email protected] 6806 SE Bellagio Ct 18,000 U/C18,000 $7.75 Anderson Properties 6806 SE Bellagio Ct 18,000 1 NNN Jeff Saddoris, (515) 371-3023 Ankeny, IA 50021 3,000 [email protected] 2425 Hubbell Ave 44,610 Existing 135,079 $4.25 - $8.00 CBRE|Hubbell Commercial 2425 Hubbell Ave 44,610 1979 1 Gross Bill Wright, (515) 221-6672 Des Moines, IA 50317 5,000 1987 [email protected] 2100 Dixon St 22,609 Existing 29,400 $4.95 - $7.50 Denny Elwell Company 2100 Dixon St 16,749 1998 2 NNN Leasing Sales, (515) 964-1587 Des Moines, IA 50316 3,200 2001 [email protected] 405 SE Magazine Rd Bldg 1 20,916 Existing 21,000 $11.25 Denny Elwell Company 405 SE Magazine Rd 3,591 2016 1 NNN Leasing Sales, (515) 964-1587 Ankeny, IA 50021 2,450 [email protected] 405 SE Magazine Rd Bldg 2 16,116 Existing 16,200 $10.75 Denny Elwell Company 405 SE Magazine Rd 1,800 2016 1 NNN Leasing Sales, (515) 964-1587 Ankeny, IA 50021 1,575 [email protected]

5043 NE 22nd St 17,000 Existing 18,750 $10.56 Denny Elwell Company 5043 NE 22nd St 17,000 1992 1 NNN Bill Gardner, (515) 964-1587 Des Moines, IA 50313 17,000 [email protected] Broadway Industrial Park 15,829 Existing 15,829 $6.00 - Denny Elwell Company 1570 NE 46th St 15,829 2016 1 $11.00 Leasing Sales, (515) 964-1587 Des Moines, IA 50313 2,590 NNN [email protected] Metro North Business Park 60,000 Planned60,000 $6.25 Denny Elwell Company 3202 SE Convenience Blvd 60,000 2 NNN Leasing Sales, (515) 964-1587 Ankeny, IA 50021 15,000 [email protected] Metro North Business Park 9,600 Existing 48,330 $6.00 Denny Elwell Company 2302 SE Creekview Dr 9,600 1998 1 NNN Leasing Sales, (515) 964-1587 Ankeny, IA 50021 9,600 [email protected] Woodside Business Park Bldg 9 14,520 Existing 28,800 $5.50 Denny Elwell Company 1595 NE 69th Pl 7,320 2001 1 NNN Leasing Sales, (515) 964-1587 Ankeny, IA 50021 7,200 [email protected] 6812 SE Delaware 300,000 U/C300,000 $5.25 Graham Group 6812 SE Delaware 300,000 1 NNN Mark Larson, (515) 699-7150 Ankeny, IA 50021 300,000 [email protected] 3915 Delaware Ave BTS Expansion 115,000 Proposed115,000 $4.55 Insite Real Estate Development 3915 Delaware Ave 115,000 1 Net Aaron Schlott, (630) 617-9172 Des Moines, IA 50313 22,500 [email protected]

116 annual REAL ESTATE magazine | SOURCE: Exchange Solutions by Xceligent with total available of 9,500 SF or greater INDUSTRIAL for LEASE

BUILDING NAME TOTAL AVAILABLE CONSTRUCTION STATE BUILDING SIZE LEASE RATE LISTING COMPANY ADDRESS MAXCONTIGUOUS SPACE YEAR BUILT NUMBER OF LEASE TYPE LISTING AGENT, PHONE CITY, STATE ZIP MINDIVISIBLE SPACE RENOVATED FLOORS EMAIL 1612 NE 69th Pl 10,000 Existing 28,800 $7.00 Iowa Realty Commercial 1612 NE 69th Pl 10,000 2016 1 Gross Tom Hudson, (515) 453-5480 Ankeny, IA 50021 10,000 [email protected] 1614 E Euclid Ave 20,550 Existing 20,550 $4.50 Iowa Realty Commercial 1614 E Euclid Ave 20,550 1961 1 NNN John Knapp, (515) 453-5467 Des Moines, IA 50313 20,550 [email protected]

1623 E Euclid Ave 26,423 Existing 26,423 $4.50 Iowa Realty Commercial 1623 E Euclid Ave 26,423 1966 1 NNN John Knapp, (515) 453-5467 Des Moines, IA 50313 26,423 [email protected]

1863 NE 54th Ave Iowa Realty Commercial Maxcontiguous Space: 11,000 Building Size: 27,000 1863 NE 54th Ave John Knapp, (515) 453-5467 Mindivisible Space: 11,000 Number of Floors: 1 Des Moines, IA 50313 [email protected] Contruction State: Existing Lease Rate: $5.00 Year Built: 2014 Lease Type: Net 11,000 SF Available

3001 SE Convenience Blvd Iowa Realty Commercial Maxcontiguous Space: 65,250 Building Size: 65,250 3001 SE Convenience Blvd John Knapp, (515) 453-5467 Mindivisible Space: 65,250 Number of Floors: 1 Ankeny, IA 50021 [email protected] Contruction State: Existing Lease Rate:$7.95 Year Built/Renovated: 2004/2007 Lease Type: NNN 65,250 SF Available

6990 NE 14th St 13,500 Existing 13,500 $12.00 Iowa Realty Commercial 6990 NE 14th St 13,500 2016 1 MG John Knapp, (515) 453-5467 Ankeny, IA 50023 1,920 [email protected]

802 SW Cherry St Bldg 1 12,000 Existing 12,000 Negotiable Iowa Realty Commercial 802 SW Cherry St 12,000 2016 1 John Knapp, (515) 453-5467 Ankeny, IA 50023 2,400 [email protected] 802 SW Cherry St Bldg 2 22,000 Existing 22,000 Negotiable Iowa Realty Commercial 802 SW Cherry St 22,000 2016 1 John Knapp, (515) 453-5467 Ankeny, IA 50023 2,100 [email protected] Four Mile Industrial Park Bldg 2 100,000 Proposed100,000 $5.25 Iowa Realty Commercial NE 62nd Ave 100,000 1 NNN Blake Pagliai, (515) 720-6215 Ankeny, IA 50021 10,000 [email protected] Four Mile Industrial Park Bldg I 80,000 Proposed80,000 $5.25 Iowa Realty Commercial 80,000 1 NNN Blake Pagliai, (515) 720-6215 Ankeny, IA 50021 10,000 [email protected] Corporate Woods Industrial Center Bldg 1 62,560 Existing 208,152 $4.75 - $4.95 JLL-Des Moines 810 SE Corporate Woods Dr 62,560 2016 1 NNN Marcus Pitts, (515) 556-4727 Ankeny, IA 50021 20,000 [email protected]

4100 Dixon St 28,500 Existing 101,732 $3.00 NAI Optimum 4100 Dixon St 28,500 1985 1 NNN Matt Lundberg, (515) 225-6395 Des Moines, IA 50313 28,500 1993 [email protected] Delaware Business Park 10,050 Existing 88,498 $4.00 NAI Optimum 2030 Delaware Ave 10,050 1956 1 Gross Keith Olson, (515) 226-8014 Des Moines, IA 50317 10,050 1996 [email protected] Washington Avenue Distribution Center 15,335 Existing 81,760 $4.00 Saint Paul Propertie-Saint Paul Properties 1600 E Washington Ave 15,335 1986 1 NNN Paul Knapp, (651) 228-2202 Des Moines, IA 50316 15,335 2002 [email protected] 5085 NE 17th St 48,475 Existing 81,882 $4.46 Stanbrough Realty Company 5085 NE 17th St 48,475 1972 1 MG Scott Berry, (515) 309-1700 Des Moines, IA 50313 48,475 2002 [email protected] 97 Indiana Ave 50,520 Existing 50,520 $2.50 Xceligent Inc-Greater Iowa 97 Indiana Ave 50,520 1962 3 NNN Research Pending, (816) 303-5300 Des Moines, IA 50314 50,520 [email protected] South

2000 E Walnut St 16,200 Existing 41,758 $2.96 CBRE|Hubbell Commercial 2000 E Walnut St 16,200 1919 2 Gross Arny Engman, (515) 224-4900 Des Moines, IA 50317 16,200 [email protected]

SOURCE: Exchange Solutions by Xceligent | annual REAL ESTATE magazine 117 INDUSTRIAL for LEASE with total available of 9,500 SF or greater

BUILDING NAME TOTAL AVAILABLE CONSTRUCTION STATE BUILDING SIZE LEASE RATE LISTING COMPANY ADDRESS MAXCONTIGUOUS SPACE YEAR BUILT NUMBER OF LEASE TYPE LISTING AGENT, PHONE CITY, STATE ZIP MINDIVISIBLE SPACE RENOVATED FLOORS EMAIL 2245 Dean Ave 34,535 Existing 63,926 $2.85 CBRE|Hubbell Commercial 2245 Dean Ave 34,535 1953 1 NNN Arny Engman, (515) 224-4900 Des Moines, IA 50317 15,755 1992 [email protected] 369 Hakes Dr 12,000 Existing 30,000 $5.00 CBRE|Hubbell Commercial 369 Hakes Dr 12,000 2005 1 NNN Tom DeWaay, (515) 221-6668 Norwalk, IA 50211 12,000 [email protected]

Rowe Electronics 18,000 Existing 18,000 $5.00 CBRE|Hubbell Commercial 339 Hakes Dr 18,000 2010 1 NNN Tom DeWaay, (515) 221-6668 Norwalk, IA 50211 18,000 [email protected] SW of Kennedy St and 168th St 20,256 Existing 20,256 $2.75 Iowa Realty Commercial 0 Kennedy St 20,256 1970 1 MG Tim Day, (515) 564-9166 Indianola, IA 50125 20,256 [email protected] 3007 N Jefferson Way 19,584 Existing 19,584 $3.68 RE/MAX Real Estate Group 3007 N Jefferson Way 19,584 1996 1 NNN Don Godwin, (515) 210-4406 Indianola, IA 50125 19,584 [email protected] West

1817 Euclid Ave 10,625 Existing 10,625 $8.47 Blackacre Realty, LLC 1817 Euclid Ave 10,625 1973 1 NNN Josiah Doughty, (505) 519-0545 Des Moines, IA 50313 10,625 1980 [email protected] 3400-3410 100th St 10,824 Existing 10,824 $6.50 - Blackacre Realty, LLC 3400 100th St 7,790 1988 1 $10.25 Kurt Pagliai, (515) 202-8800 Urbandale, IA 50322 3,034 2007 NNN [email protected] 2202 Wolf Way Bldg 2 31,350 Existing 31,350 $5.25 CBRE|Hubbell Commercial 2202 Wolf Way 31,350 2015 1 NNN Tom DeWaay, (515) 221-6668 West Des Moines, IA 50265 8,000 [email protected] 3303-3329 109th St 10,687 Existing 40,590 $8.25 - $8.75 CBRE|Hubbell Commercial 3303 109th St 5,025 2000 1 NNN Ajdin Nadarevic, (515) 221-6684 Urbandale, IA 50322 1,022 [email protected] 3600 Army Post Rd 407,938 Existing 407,938 Negotiable CBRE|Hubbell Commercial 3600 Army Post Rd 407,938 2002 2 NNN Paul Weeks, (515) 221-6691 Des Moines, IA 50321 7,800 [email protected] Crossmark Building 13,032 Existing 13,032 $8.50 CBRE|Hubbell Commercial 3721 SW 61st St 13,032 2000 1 NNN Bill Wright, (515) 221-6672 Des Moines, IA 50321 13,032 [email protected] Grimes Distribution Center Bldg 3 19,771 Existing 109,771 $4.45 CBRE|Hubbell Commercial 1400 SE Gateway Dr 19,771 2015 1 NNN Morey Knutsen, (515) 224-4900 Grimes, IA 50111 9,771 [email protected]

Grimes Distribution Center Bldg 4 CBRE|Hubbell Commercial Maxcontiguous Space: 109,771 Building Size: 109,771 1300 SE Little Beaver Dr Morey Knutsen, (515) 224-4900 Mindivisible Space: 9,771 Number of Floors: 1 Grimes, IA 50111 [email protected] Contruction State: Existing Lease Rate: $4.45 - $4.65

109,771 SF Available

Paragon Office Park 152,984 Existing 217,877 $5.75 CBRE|Hubbell Commercial 4740 121st St 152,984 2005 1 NNN Thomas Jacobs, (515) 221-6654 Urbandale, IA 50323 50,000 2008 [email protected] 600 Holcomb Ave 12,488 Existing 56,788 $5.50 Century 21-Signature 600 Holcomb Ave 12,488 1979 2 Gross Laurie Culp, (515) 291-1522 Des Moines, IA 50313 12,488 2008 [email protected] Bell Avenue Business Center 64,125 Existing 658,855 $5.00 Denny Elwell Company 1901 Bell Ave 54,185 1953 3 MG Mike Billings, (515) 964-1587 Des Moines, IA 50315 5,485 1966 [email protected]

1915 SE 41st St Iowa Realty Commercial Maxcontiguous Space: 10,500 Building Size: 10,500 1915 SE 41st St Mick Grossman, (515) 222-0000 Mindivisible Space: 10,500 Number of Floors: 1 Grimes, IA 50111 [email protected] Contruction State: Existing Lease Rate: $7.00 Year Built: 2000 Lease Type: NNN 10,500 SF Available

118 annual REAL ESTATE magazine | SOURCE: Exchange Solutions by Xceligent with total available of 9,500 SF or greater INDUSTRIAL for LEASE

BUILDING NAME TOTAL AVAILABLE CONSTRUCTION STATE BUILDING SIZE LEASE RATE LISTING COMPANY ADDRESS MAXCONTIGUOUS SPACE YEAR BUILT NUMBER OF LEASE TYPE LISTING AGENT, PHONE CITY, STATE ZIP MINDIVISIBLE SPACE RENOVATED FLOORS EMAIL 721 Railroad Ave 15,600 Existing 15,680 $5.50 Iowa Realty Commercial 721 Railroad Ave 8,750 1928 1 Mick Grossman, (515) 222-0000 West Des Moines, IA 50265 6,850 1999 [email protected] Interstate Distribution Center II 275,000 Proposed275,000 $4.95 Iowa Realty Commercial 3900 NW 106th St 275,000 1 NNN Chris Pendroy, (515) 453-5450 Urbandale, IA 50322 100,000 [email protected]

4401 112th St 36,179 Existing 36,179 $4.75 JLL-Des Moines 4401 112th St 36,179 1985 1 NNN Heath Bullock, (515) 554-7412 Urbandale, IA 50322 36,179 [email protected] Airport Commerce Park South 14,592 Existing 21,888 $5.00 - $8.00 JLL-Des Moines 2120 Rittenhouse St 7,296 1999 1 NNN Heath Bullock, (515) 554-7412 Des Moines, IA 50321 7,296 2000 [email protected] Proposed Expansion 4401 112th St 33,500 Proposed33,500 Negotiable JLL-Des Moines 4401 112th St 33,500 1 NNN Heath Bullock, (515) 554-7412 Urbandale, IA 50322 33,500 [email protected]

Airport Commerce Park South Knapp Properties, Inc Maxcontiguous Space: 33,833 Building Size: 100,000 3000 Gannett Ave Ben Garrett, (515) 401-7071 Mindivisible Space: 12,000 Number of Floors: 1 Des Moines, IA 50321 [email protected] Contruction State: Existing Lease Rate: $4.95 Year Built: 2016 Lease Type: NNN 33,833 SF Available

3701 109th St 43,334 Existing 43,334 $7.50 - NAI Optimum 3701 109th St 43,334 1997 1 $10.50 Steve Scott, (515) 309-6705 Urbandale, IA 50322 1,600 NNN [email protected]

Aurora Business Park Bldg 10 R&R Real Estate Advisors Maxcontiguous Space: 18,881 Building Size: 47,710 11338 Aurora Ave Paul Rupprecht, (515) 223-4500 Mindivisible Space: 2,402 Number of Floors: 1 Urbandale, IA 50322 [email protected] Contruction State: Existing Lease Rate: $8.25 Year Built: 1990 Lease Type: NNN 21,283 SF Available

Aurora Business Park Bldg 6 9,622 Existing 27,696 $8.25 R&R Real Estate Advisors 11201 Aurora Ave 6,827 1987 1 NNN Paul Rupprecht, (515) 223-4500 Urbandale, IA 50322 2,795 [email protected] Interstate Acres I 20,000 Existing 100,000 $4.00 R&R Real Estate Advisors 4239 109th St 20,000 1980 1 NNN Paul Rupprecht, (515) 223-4500 Urbandale, IA 50322 10,000 [email protected] Interstate Acres III 20,000 Existing 150,664 $4.00 R&R Real Estate Advisors 4319 NW 112th St 20,000 1985 1 NNN Paul Rupprecht, (515) 223-4500 Urbandale, IA 50322 10,000 [email protected]

Interstate Acres IV 50,000 Existing 200,000 $4.00 R&R Real Estate Advisors 4434 NW 112th St 50,000 1986 1 NNN Paul Rupprecht, (515) 223-4500 Urbandale, IA 50322 50,000 [email protected] Meredith Business Park V 150,000 Existing 150,000 $4.50 R&R Real Estate Advisors 4340 121st St 150,000 2007 1 NNN Paul Rupprecht, (515) 223-4500 Urbandale, IA 50323 150,000 [email protected] Prairie Business Park Bldg 1 130,000 Existing 260,000 $4.75 - $5.25 R&R Real Estate Advisors 3801 S James St 130,000 2015 1 NNN Paul Rupprecht, (515) 223-4500 Grimes, IA 50111 13,000 [email protected]

Prairie Business Park Bldg 2 R&R Real Estate Advisors Maxcontiguous Space: 250,000 Building Size: 250,000 200 SE 37th St Paul Rupprecht, (515) 223-4500 Mindivisible Space: 12,500 Number of Floors: 1 Grimes, IA 50111 [email protected] Contruction State: U/C Lease Rate: Negotiable Lease Type: NNN 250,000 SF Available

Industrial Business Park 510,000 Existing 566,099 $3.25 - $3.75 Signature Commercial-Clive 5701 Park Ave 510,000 1958 1 NNN Andy Hodges, (515) 221-9990 Des Moines, IA 50321 100,000 1998 [email protected]

SOURCE: Exchange Solutions by Xceligent | annual REAL ESTATE magazine 119 COMMERCIAL REAL ESTATE WOMEN: FIVE YEARS STRONG

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Environmental Services 4140 E. 14th Street 5 55HDOW\*URXS:HVWÀHOG&RPSOH[ Des Moines, IA 50313 Steve Charlton: 515.491.8195 [email protected] www.senecaco.com ~ 800.369.3500 www.svpa-architects.com

From Breaking Ground To Ground Breaking 515.333.5160 | OnSite-Iowa.com What do you see as the dominant workforce. The fact is that I think themes going forward this year? if you ask folks in the C-suites in THEEXPERTS Des Moines right now, what their HOLLIE ASKEY Hollie Askey: The dominant theme biggest concern is, it’s finding workforce. Right now, I think the economic development that I’ve been seeing is the suburban biggest opportunity that we have director, city of Norwalk communities on the outlying areas of the metro having such a push and in Des Moines of attracting the a desire and need for retail. They’ve kind of workforce we need is the ERIC BURMEISTER gotten to the point where they’re built environment. We need to executive director, Polk County very healthy in their industrial, start having those conversations Housing Trust Fund commercial, manufacturing, in tandem with one another … warehouse and residential. They are otherwise we’re trying to fix it later JUSTIN DOYLE very strong, they’re growing. They or respond to it later or not worry principal, have a need for retail. Everybody about it at all and all of a sudden Blackbird Investments wants the big box. Everybody wants we’re realizing that we can’t attract the national chains, but figuring out the kind of workforce that we need. DAVIS SANDERS what is realistic for each community Justin Doyle: I’ll take that one step principal, RDG and what they can support and further. What you were talking about maintain is different. Planning & Design is the diversity in the environment that we have, and it can’t be done With everything Davis Sanders: absent of any type of coordination MODERATORS that’s happened in 2016 and maybe or workflow for the city. For us to even the previous 10 years, it’s not CHRIS CONETZKEY be able to create a really diverse a blank slate anymore, both for Business Record publisher Des Moines metro area requires planning and for architecture. I us to consciously make an effort KENT DARR think it becomes more of a challenge towards affordable housing, market- senior staff writer but it becomes more interesting in rate housing, homeownership leveraging all of the development, opportunities not only for the core all of the great things that have but also increasingly for outside the happened, rather than just a area. All of that does lead very much one-off project. There aren’t many to the retail side of what we can do opportunities for that, and they in order to grow commerce that’s in don’t really fit what we’ve got going close proximity to where people live here. I say working in context with or work, to create a metro area that so much of the success we’ve seen. is more vibrant from an economic Eric Burmeister: As Davis says, we standpoint. don’t have a blank slate anymore, and I see a couple of concerning Are you talking about meeting or growing trends coming together current or future housing needs? and that is the kind of construction Doyle: I’d argue that there’s a that we’re seeing in terms of retail, current housing gap especially on Hollie, in terms of some of our the affordable housing spectrum. entertainment districts that we’re Matt Anderson at the city of looking at and understanding Des Moines has done a good job how we’re going to house that over the last couple of months

122 annual REAL ESTATE magazine LAND ROUNDTABLE Q&A A NEED FOR DIVERSE

HOUSINGBY KENT DARR

annual REAL ESTATE magazine 123 LAND: KEY POINTS

SEARCH FOR RETAIL IN GREATER DESIGNING IN CONTEXT DEVELOPMENT INCENTIVES DES MOINES’ SOUTHERN TIER Architects and urban planners are SHOULD CARRY A MESSAGE OF COMMUNITIES doing their work in the context A large part of our conversation spun The attraction of retail shops is of what already exists, given that around affordable housing. The city important for communities such the development juggernaut of of Des Moines is focused on the lack as Carlisle, Indianola and Norwalk. recent years has cleared the slate of affordable projects downtown. Those communities are seeing for one-off projects. That could be a Several panelists suggested that Des healthy commercial development, good thing. With designers working Moines and other cities should use but they lack the shopping under existing conditions, they are their development incentives as a opportunities that are available listening to what is good for the means to prod developers to carve near where many residents work. neighborhoods. out portions of their projects for The search is for what might be affordable. considered a hybrid big box.

in trying to draw awareness to housing tax credits, for instance. and compare that to the average that, especially as many of the Those have 30-year covenants on increase in the area median income projects or the developments that them of affordability, and when that which is what controls the rents are coming out of their income- 30 years is up, the developer has the on affordable housing. We know restricted (phases) are beginning option to say, “I’m going to turn these that almost instinctively that the to burn off, those properties are into market-rent houses.” We actually rents are moving up faster than not going to be replaced with other have seen some projects that have the average income in the county. affordable housing properties. You turned over or had the opportunity It’s happening all over. In fact, two end up having this effect of people to turn over; frankly, they haven’t. years ago, there was actually a making less than the household Elsie and Ligutti were recently drop, at one point in the recession, (median income moving) out of the renovated and kept by Newbury there was an actual drop in the downtown core. From the ofﬁce Living as affordable. area median income for the county. standpoint, that is a huge issue. That We’re sitting next to the Rumley, It was a blip but it was a drop. is an issue, I’m sure, for corporations which was the last low-income People were lowering their rents in that are looking at relocating jobs housing project built downtown, those instances. across communities and moving and that’s now, I think, either 6 or 7 downtown. How do they match the years old. What happens when that Doyle: While there’s a large desire they have from a corporate really nice old warehouse building amount of equity available from standpoint to be in the urban core, turns over? These are long-range the federal government to help but yet they have to rely on their plans. These aren’t plans for six make those projects real, the employees who can’t afford to live months from now or a year from underwriting time for those is in the downtown to drive from 10 now. These are 20-year plans. measured, often times, in years as miles away to ﬁnd a job? opposed to months. I’ve been in Is there a challenge to building the trenches and waded through Burmeister: Most of the projects that affordable housing downtown? Is it. It takes a year’s worth of have been built downtown, and I’m the challenge that while it carries a perseverance to be able to get an always the guy who reminds all known margin, it’s less profitable? affordable housing project toggled of the downtown developers that over. The third item that I would downtown housing started with Burmeister: Sure, your rent is throw in there is the political affordable housing, if we didn’t have certain. The fact is that you see in support and the neighborhood affordable housing downtown, places our community, all you have to do level reaction to what affordable like Elsie Manor and Ligutti Tower, is take a look at Hubbell’s annual housing actually is versus what we wouldn’t have downtown housing apartment report to see what the the perception is. I think that today. Those units are built with average increase is on downtown could be solved through education. federal subsidies like low income market rates for apartments It’s almost a weekly process of

124 annual REAL ESTATE magazine PARKING RAMPS AS RETAIL REQUIRES HOUSING OFFICE BUILDINGS FOR RETAIL WORKERS This one is a head turner. From the Retail as an economic development realm of adaptive reuse comes strategy can be a dicey proposition. parking garages that can be converted The retail rollover at the 12-block WRRIŵFHDQGDSDUWPHQWEXLOGLQJV Nicollet Mall in downtown The idea is to build an access ramp Minneapolis is a case in point, but RQWKHLQWHULRUWKDWLVEXLOWRXWRIŶDW so is the lack of affordable housing plates on decks that can be of varying near large retail areas in Greater FRQŵJXUDWLRQV,IWKHQHHGIRUSDUNLQJ Des Moines. slows, as is predicted, the garages can be converted. HOLLIE ASKEY

having to have some neighborhood Are we as likely to see affordable meeting or a sit down with elected housing offered as part of a officials or whomever to bring development in suburbs such as them up to speed as to what this Ankeny and Altoona? actually means. There’s a few that are Doyle: ERIC BURMEISTER Sanders: What Justin says is percolating. absolutely true, there’s a real stigma. One thing that we haven’t really Burmeister: I think that there is. touched on here that has been I think our biggest advocate for part of (the challenge) and that is affordable housing is our business the increase in construction costs community. It’s those employers who locally. It’s running 3.5 percent, 4.5 are saying, “Hey, listen, we need folks percent. The only way to respond to to work these shifts.” You literally that is to drive up rental rates. That see (workers) go to Home Depot, to makes it all the more difficult with Lowes, back to a different Home all the other associated things. Depot ... and it’s just this constant cannibalization of employees. Part Burmeister: I think, as Justin says, of that is that if we were to say, a lot of it is education, not only of “Hey, listen, we’re going to put some our political leaders but also of affordable housing within walking the neighbors and employers as distance of some of these large JUSTIN DOYLE well because the fact is that if our retailers or large entertainment economic development strategy, centers,” then you’re more likely to our larger economic development see those employees stay. strategy is in the retail area and I’ll use Ankeny as an example, if Doyle: I’ll take it one step further. Delaware Avenue is your economic I think one of the greatest development strategy then you mechanisms we could use as a need to figure out where those retail community in order to motivate folks and those retail employees are developers and investors to do that going to live. Altoona, with the new is to use the strong arm of municipal outlet mall coming off the ground, is (incentives) to do this. another place where that workforce At Blackbird, we’re working in housing strategy needs to be in place. a variety of different cities but it’s

DAVIS SANDERS

annual REAL ESTATE magazine 125 not uncommon of other metro areas Hollie, I’m just curious how is going to have to be an alternative to state that if you’re going to be affordable housing might fit into method somehow, some sort of a receiving economic assistance in the the mix in Norwalk? ride-share system with these larger form of (tax incentives, then they employers in these communities will) require a certain portion of that will have to come together and Norwalk’s pattern and that project to be allocated towards Askey: figure something out with another affordable housing at various growth rate and just the style of provider. Nothing against DART, but different levels. If the city and the residential that’s been happening for some of these communities it’s county and the communities each in the last five years is very similar just not affordable. come up with their own strategic to Waukee, just the expansion priorities, my general counsel to pattern from West Des Moines and Davis, can you talk at all about any elected official on this is use the the types of new houses that are what you learned from the focus bully pulpit. ... People are expanding. going up. We have that issue too. We groups that you did as part of the Employers are moving to Iowa. This don’t have a whole lot of affordable Gray’s Station planning? What are is the time that we can start having housing. If people were to transport people thinking? a demand of our development and outside of Des Moines or downtown investment community to make sure Des Moines, they’d have to go a Sanders: Almost across the board, that the projects that are being built long way, really. They can’t even go there’s a demand for a broad range are consistent with the common core to Carlisle or Indianola anymore, of (housing options). One that we values of that community. and it just costs them very similar learned that I thought was very rates. What I see as a parallel issue exciting was the senior housing Is that coming out of the with that is public transportation, thing and (the desire for) senior city of Des Moines now? You and I think all of this has to be housing in the downtown area. have Connolly Lofts, you driven by our larger employers. Certainly, we’ve heard very strongly have the Market Lofts that … We have three or four other from the empty-nesters wanting to TWG Development is talking really large employers ready and be located in the downtown area, about; both have an affordable waiting to come into Norwalk to and with not a lot of two- and component. build new, but their issue right three-bedroom units. They may be now, besides just nearby affordable empty-nesters but they want their housing, is how are they going I know the city of Des Moines children and grandchildren coming Doyle: to get there? Where’s your public does support (the affordable housing back and visiting and spending transportation system? That’s a component) of those projects, and some time with them. We learned a common thread with all of the that’s a big item. I don’t know if it’s lot along that line. I would go back suburban communities surrounding necessarily turned into a quid pro quo. to your previous question too, Kent, the metro. how we were selected. We also have Burmeister: For Connolly Lofts, for been doing extra planning for the instance, the affordable component You hit on public transportation. DICO site for about two years. of that, a large part is Polk County We’re at a time when we’re Housing Trust Fund. To the extent hearing some grumbling about Is a resolution at hand for the that part of our strategy as an DART service in the suburbs DICO site? organization, going forward, is to especially. Carlisle just recently Sanders: We’re making good pick out individual units in market- decided to stick it out a little bit progress and certainly much better rate projects and literally buy longer with DART. progress than there has been for a the affordability through subsidy, number of years. It’s looking very it’s a slow way to do it and it’s an Askey: It’s an issue. I know promising. It seems everybody’s expensive way to do it. I think what in Norwalk we just had that stepped up to the table that needs Justin is saying is that, right now, it’s conversation. A very large employer to step up to the table. kind of tough to dip your toe into who’s looking to come to Norwalk, that water just a little bit. Right now, bring 500, 600 jobs, and an issue By extension, does it make I think the city of Des Moines has was how everybody would get sense that if you develop some places, locations, that are so there and it’s been an issue with athletic fields for Des Moines hot that if you went to a developer the existing companies. We have Public Schools, as has been and said, “You know what? If you looked into the budget on the DART discussed for the DICO site, does want the necessary permitting to opportunity and it didn’t pencil another school go in that area? get this done, we want to have two out. I know Carlisle had an issue with that and what each resident is units of affordable set aside in this Sanders: That’s really interesting project.” I don’t think people are charged per capita on that, and it that you’d say that because that’s going to turn and run away. just did not pencil out. I think there been discussed with that planning.

126 annual REAL ESTATE magazine There would be another school, Lebanese restaurant. A variety of my and then starting to use some of possibly an extension of the employees are from different countries. the inner-ring neighborhoods that downtown school but certainly an It’s a really fascinating thing. are struggling to fulfill that need? interest in both, with that being a I think that has some legs to it school facility in the DICO site with Conetzkey: I lived downtown for a because I don’t know, Chris, what the addition of maybe a substantial long time. I kept biding my time, you were looking for, but in a lot of amount of housing (nearby). waiting and waiting and waiting places that have been downtown, and going, “If something would (people are) not necessarily looking open up for ownership ...” There’s Justin, You’re running across to buy in a high-rise. six condos, I think, on the market at I think they’re looking to buy the empty-nester thing a lot in the moment, and those are probably your projects. Are they going to in more of a traditional, either what I’d be looking for. single-family or a very low-density overtake the millennials? building. Doyle: I’m constantly bumping into Doyle: They have very different people like you who are saying, “If needs. There are different desires in I had an option ...” My brother just What are you seeing long term housing. When I look at our project recently moved from the Waukee in some other areas that are at Seventh and Walnut and the area to Ingersoll Avenue. He has less visible but that are poised market studies that we’ve done on two small children, and he was development? the user groups and such to identify going through his home discernment that having certain amenities that process of, “I want to live in the core. Sanders: We have an interesting one reflect the young professional, I want to live downtown but I just right now. If we gave everybody people that are looking for more of can’t do that because of this reason in this room two guesses, nobody that resort-style place, among the and this reason and, on top of that, would guess that. It’s really folks that responded very positively there’s nothing available to buy rather exciting. It’s staggering to that type of amenities set are into,” and he’s too old to rent. information that allows you to come people who are 50 years old, empty- to this conclusion, but the area up nesters, kids are gone but they want Conetzkey: My point was that, if you around the Grubb YMCA, which is to still be within walking distance think about just the pure number above 13th and College, there’s a of their three favorite restaurants of people who have lived downtown significant movement, a substantial and that type of item. for the past five or seven years now, amount of planning and inflow of There’s figuring out a way in that number’s got to be dramatically capital to make some things happen. order to meet the particular needs greater than have lived in the It is a very large neighborhood of that group, the younger crowd, previous 10 years. Those are all and a very diverse neighborhood. the affordable housing crowd, people who, in the past, would have Actually, at the Grubb Y, they’ve people who are interested in moved to Des Moines, rented in the counted as many as, I believe it’s 45 homeownership downtown, which suburbs and then just immediately different languages that are spoken I keep pounding on because I think bought a house in the suburbs at but, unfortunately, the average stay it’s a big issue that isn’t really some point, as opposed to having the per person in that neighborhood coming up yet, all that creates this experience of living downtown. is between two and three years. really vibrant community. In the There’s no stability to build on, but same way that having an affordable Burmeister: I think one of the things there’s an incredible resource. component to housing projects that is interesting about that whole We talk about needing to attract introduces people of a variety of conversation, and it’s going on workers, and we talk about needing different economic positions but within the city of Des Moines and to attract diversity, being more also immigration and nationality it’s a big part of discussion around diverse. How do we get people to and race and family size and all Capital Crossroads, is how, in some move to Des Moines? I think we’ve that, creates this interesting mix of these first-ring neighborhoods got a great opportunity in that of people. That’s what makes Iowa that we have in and around neighborhood. The construction surprisingly great. When people downtown, are we going to be able industry is just starved right now. that I know travel to Des Moines or to get some of those homeownership It cannot find workers. It’s not as businesses come here and they look opportunities ... how are we going to though you have to get a four-year at trying to expand their operations, start putting some new construction degree. The unemployment rate they’re surprised at Des Moines not with either smaller single-family there is in the high teens. With the meeting the stereotype of what a homes on smaller lots or this right services being provided in a Midwestern city looks like. missing middle that everybody more effective manner, I think that It’s this really exciting variety keeps talking about all the time, there’s some big development that of folks. I’ve got a Cuban restaurant whether that’s duplexes, fiveplexes, we could see there. a block and a half from my office, a fourplexes but with owned units,

annual REAL ESTATE magazine 127 LANDSPACE

This map illustrates how the land listings are Due to space constraints, not all commercial classified according to location. The individual real estate properties are listed. Listings have districts have been identified by the Xceligent been cut by minimum space requirements as Land Advisory Board and are specific to the identified at the top of each list. land category. Many business parks have multiple buildings Only cities in the Greater Des Moines and/or lots available. Due to space constraints, metropolitan area are included in this guide some of these listings were condensed. For (as defined by the Chambers of Commerce/ complete information on any given property, Organizations that are affiliates of the Greater please contact the listing agent. Des Moines Partnership). All listing data is provided by Xceligent, Listings are grouped by location corresponding specializing in commercial real estate. to the map districts. Corrections need to be communicated to Xceligent directly.

128 annual REAL ESTATE magazine | SOURCE: Exchange Solutions by Xceligent with total available of 220,000 SF or greater LAND for SALE

LAND NAME/LOCATION TOTAL AVAILABLE SALE PRICE LISTING COMPANY ADDRESS LISTING AGENT, PHONE CITY, STATE ZIP EMAIL Ankeny

Campus Commercial Park West 633,362 $7,600,349 Alpha One 601 SW Oralabor Rd Dave Vance, (515) 964-9411 Ankeny, IA 50023 [email protected]

10.58 Acres NW 36th St and Irvindale Dr Lot 2 460,778 $846,400 Anderson Properties Jeff Saddoris, (515) 371-3023 Ankeny, IA 50023 [email protected] 9.0 Acres NW 36th St and Irvindale Dr Lot 1 392,040 $1,078,110 Anderson Properties Jeff Saddoris, (515) 371-3023 Ankeny, IA 50023 [email protected] 124.35 Acres Otter Creek Land 5,416,686 $6,000,000 CBRE|Hubbell Commercial Todd Millang, (515) 221-6677 Ankeny, IA 50021 [email protected] 19.24 Acres Farrell Development Land 838,182 $1,539,360 CBRE|Hubbell Commercial 6300 NE 22nd St Craig King, (515) 221-6678 Ankeny, IA 50021 [email protected] 58.47 Acres Tipping/Crosswinds Business Park 2,546,953 $4,711,863 - CBRE|Hubbell Commercial $17,828,671 Craig King, (515) 221-6678 Ankeny, IA 50023 [email protected] 7.8 Acres Siena Hills 339,768 $2,548,260 - CBRE|Hubbell Commercial 2840 S Ankeny Blvd $3,397,680 Riley Hogan, (515) 221-6683 Ankeny, IA 50023 [email protected] 12.61 Acres NW 18th St and N Ankeny Blvd 549,292 $659,718 - Denny Elwell Company $1,121,232 Leasing Sales, (515) 964-1587 Ankeny, IA 50023 [email protected] 16.66 Acres Metro North Business Park Portfolio 725,710 $7,982,810 Denny Elwell Company 2902 SE Convenience Blvd Leasing Sales, (515) 964-1587 Ankeny, IA 50021 [email protected] 24.0 Acres Metro North II Business Park 1,045,440 Negotiable Denny Elwell Company Leasing Sales, (515) 964-1587 Ankeny, IA 50021 [email protected] 24.6 Acres NW 36th St and N Ankeny Blvd 1,071,576 Negotiable Denny Elwell Company Leasing Sales, (515) 964-1587 Ankeny, IA 50023 [email protected] 34.0 Acres Corporate Woods Business Park 1,393,920 $4,878,720 - Denny Elwell Company Corporate Woods Dr $9,757,440 Leasing Sales, (515) 964-1587 Ankeny, IA 50021 [email protected]

5.5 Acres Metro North Business Park II Lot 1 239,144 $1,197,900 Denny Elwell Company 2210 SE Creekview Dr Leasing Sales, (515) 964-1587 Ankeny, IA 50021 [email protected] 5.5 Acres Woodside Business Park Portfolio 239,580 $718,740 Denny Elwell Company Leasing Sales, (515) 964-1587 Ankeny, IA 50021 [email protected] 5.8 Acres Metro North Business Park Lot 4 252,648 $2,779,128 Denny Elwell Company 3202 SE Convenience Blvd Leasing Sales, (515) 964-1587 Ankeny, IA 50021 [email protected] 5.97 Acres Metro North Business Park Lot 5 260,053 $2,860,583 Denny Elwell Company 3002 SE Convenience Blvd Leasing Sales, (515) 964-1587 Ankeny, IA 50021 [email protected] 6.42 Acres LGI Business Park 279,655 $1,116,880 Denny Elwell Company 2550 SE Oak Tree Ct Mike Billings, (515) 964-1587 Ankeny, IA 50021 [email protected] 6.6 Acres Ankeny Interstate Ground Porfolio 287,496 $1,724,976 Denny Elwell Company 1204 SE 16th Ct Leasing Sales, (515) 964-1587 Ankeny, IA 50021 [email protected] 17.88 Acres SE Creekview Dr 778,853 Negotiable Eychaner Properties 201 SE Creekview Dr Rich Eychaner, (515) 262-0000x 101 Ankeny, IA 50021 [email protected]

SOURCE: Exchange Solutions by Xceligent | annual REAL ESTATE magazine 129 LAND for SALE with total available of 220,000 SF or greater

LAND NAME/LOCATION TOTAL AVAILABLE SALE PRICE LISTING COMPANY ADDRESS LISTING AGENT, PHONE CITY, STATE ZIP EMAIL 26.0 Acres SE Creekview Dr 1,132,560 Negotiable Eychaner Properties 301 SE Creekview Dr Andy Burton, (515) 262-0000x 102 Ankeny, IA 50021 [email protected] 43.88 Acres 201-301 Creekview Dr Portfolio 1,911,413 Negotiable Eychaner Properties 201 SE Creekview Dr Rich Eychaner, (515) 262-0000x 101 Ankeny, IA 50021 [email protected]

11.22 Acres Campus Town Development Portfolio 488,743 $540,752 - Ferguson Commercial Real Estate Services SW Oralabor $1,951,490 Aaron Hyde, (515) 309-0916 Ankeny, IA 50021 [email protected] 6.0 Acres NE 66th Ave and NE 14th St 261,360 $915,000 Iowa Realty Commercial NE 66th Ave Mick Grossman, (515) 222-0000 Ankeny, IA 50313 [email protected] 43.81 Acres Rueter Land 1,908,364 $7,633,456 JLL-Des Moines Marcus Pitts, (515) 556-4727 Ankeny, IA 50021 [email protected] 8.08 Acres Otter Creek Commercial Land Portfolio 351,965 $422,530 - JLL-Des Moines NE 36th St $1,536,792 Marcus Pitts, (515) 556-4727 Ankeny, IA 50021 [email protected] Vintage Business Park Portfolio Sale 2,153,606 $10,768,030 - JLL-Des Moines 1808 SW Magazine Rd $18,305,651 Marcus Pitts, (515) 556-4727 Ankeny, IA 50023 [email protected] 6.8 Acres E 1st St and I-35 296,208 $590,000 Keller Williams-Des Moines Craig Wetzel, (515) 707-7400 Ankeny, IA 50021 [email protected] 5.23 Acres Corporate Woods Business Park Lot 6 226,512 $1,139,880 Knapp Properties, Inc Ben Garrett, (515) 401-7071 Ankeny, IA 50021 [email protected] Central Business District

75.0 Acres Riverpoint West 3,267,000 Negotiable Iowa Realty Commercial Tuttle St Kevin Crowley, (515) 453-5429 Des Moines, IA 50313 [email protected] Northeast

20.22 Acres 3507 Grant St 880,783 Negotiable Blackacre Realty, LLC 3507 Grant St S Marilyn Etzel, (515) 414-5768 Bondurant, IA 50035 [email protected]

23.06 Acres Grant St S Portfolio Sale 1,004,494 Negotiable Blackacre Realty, LLC 3507 Grant St S Marilyn Etzel, (515) 414-5768 Bondurant, IA 50035 [email protected] 5401 E University Ave 254,390 Negotiable Blackacre Realty, LLC 5401 E University Ave Kurt Pagliai, (515) 202-8800 Pleasant Hill, IA 50327 [email protected] 8.34 Acres Broadway Industrial Business Park Portf 363,290 $999,048 Blackacre Realty, LLC 1115 NE Broadway Ave Kurt Pagliai, (515) 202-8800 Des Moines, IA 50313 [email protected] 23.5 Acres 34th Ave SW 1,023,660 $3,850,000 CBRE|Hubbell Commercial 154 34th Ave SW Craig King, (515) 221-6678 Altoona, IA 50009 [email protected] 5.30 Acres E University Ave 230,868 $500,000 CBRE|Hubbell Commercial 4224 E University Ave Ajdin Nadarevic, (515) 221-6684 Des Moines, IA 50317 [email protected] 7.98 Acres Tuscany Development Land Lot 1 347,609 $1,216,632 - CBRE|Hubbell Commercial $1,249,300 Craig King, (515) 221-6678 Altoona, IA 50009 [email protected] 9.92 Acres Broadway Business Park Portfolio 432,115 $163,143 - CBRE|Hubbell Commercial $241,750 Morey Knutsen, (515) 224-4900 Des Moines, IA 50313 [email protected]

130 annual REAL ESTATE magazine | SOURCE: Exchange Solutions by Xceligent with total available of 220,000 SF or greater LAND for SALE

LAND NAME/LOCATION TOTAL AVAILABLE SALE PRICE LISTING COMPANY ADDRESS LISTING AGENT, PHONE CITY, STATE ZIP EMAIL Rosenberger Farm 3,522,262 $5,255,900 CBRE|Hubbell Commercial 3902 Grant St S Bill Wright, (515) 221-6672 Bondurant, IA 50035 [email protected] 13.0 Acres I-35 Business Park 566,280 $2,265,120 - Denny Elwell Company $3,539,250 Leasing Sales, (515) 964-1587 Des Moines, IA 50313 [email protected]

NE of I-80 and NE 56th St 590,238 $920,634 Hurd Real Estate Services 5697 NE 56th St Richie Hurd, (515) 778-1009 Altoona, IA 50009 [email protected] NE of NE 14th St and NE 54th Ave 350,222 $1,225,777 Iowa Realty Commercial NE 14th St Blake Pagliai, (515) 720-6215 Des Moines, IA 50313 [email protected] NE of NE 54th Ave and 1st Ave N 237,838 $713,514 Iowa Realty Commercial NE 54th Ave John Knapp, (515) 453-5467 Altoona, IA 50009 [email protected] 31.76 Acres NE 46th Ave 1,383,466 $1,150,000 Keller Williams-Brad Long 8028 NE 46th Ave Brad Long, (515) 334-4900 Altoona, IA 50009 [email protected] 45.92 Acres E 56th St 2,000,275 $1,033,200 Keller Williams-Brad Long 3605 E 56th St Brad Long, (515) 334-4900 Altoona, IA 50009 [email protected] 159.0 Acres Peter’s South 6,926,040 Negotiable Knapp Properties, Inc 1800 SE 68th St Ben Garrett, (515) 401-7071 Pleasant Hill, IA 50327 [email protected] 10.54 Acres Development Land 459,122 $1,836,488 NAI Optimum 1570 11th Ave NE Keith Olson, (515) 226-8014 Altoona, IA 50009 [email protected] 11.02 Light Industrial Land 480,031 $720,047 NAI Optimum 857 9th St NE Chris Thomason, (515) 309-6707 Altoona, IA 50009 [email protected] 11.71 Acres Pleasant Hill Centre P1 L17 510,088 $1,020,000 NAI Optimum 514 NE 60th St Keith Olson, (515) 226-8014 Pleasant Hill, IA 50327 [email protected] 137.82 Acres Altoona Portfolio Sale 6,003,439 $1,078,110 - NAI Optimum 9th St NE $9,335,776 Chris Thomason, (515) 309-6707 Altoona, IA 50009 [email protected] 19.8 Acres Light Industrial Land Lot 26 862,488 $1,078,110 - NAI Optimum 7622 NE 50th Ave $1,509,354 Chris Thomason, (515) 309-6707 Altoona, IA 50009 [email protected]

21.78 Acres Hawthorne Crossing Portfolio Sale 948,737 $2,040,939 NAI Optimum SE Keith Olson, (515) 226-8014 Bondurant, IA 50035 [email protected] 26.79 Acres Light Industrial Land Lot 22 1,166,972 $1,750,458 - NAI Optimum $9,335,776 Chris Thomason, (515) 309-6707 Altoona, IA 50009 [email protected] 28.20 Acres Light Industrial Land 1,228,392 Negotiable NAI Optimum 7616 NE 50th Ave Chris Thomason, (515) 309-6707 Altoona, IA 50009 [email protected] 34.74 Light Industrial Land Lot 16 1,513,274 $2,269,911 NAI Optimum 601 9th St NE Chris Thomason, (515) 309-6707 Altoona, IA 50009 [email protected] 5.6 Acres 9th St NE and 1st Ave N 243,936 $1,951,488 NAI Optimum Chris Thomason, (515) 309-6707 Altoona, IA 50009 [email protected] 54.63 Acres Light Industrial Land 2,379,683 $2,379,683 NAI Optimum 640 9th St NE Chris Thomason, (515) 309-6707 Altoona, IA 50009 [email protected] 6.29 Acres Development Land 273,992 $959,000 NAI Optimum 1427 34th Ave SW Keith Olson, (515) 226-8014 Altoona, IA 50009 [email protected]

SOURCE: Exchange Solutions by Xceligent | annual REAL ESTATE magazine 131 LAND for SALE with total available of 220,000 SF or greater

LAND NAME/LOCATION TOTAL AVAILABLE SALE PRICE LISTING COMPANY ADDRESS LISTING AGENT, PHONE CITY, STATE ZIP EMAIL 73.68 Acres Development Land 3,209,501 $2,394,600 NAI Optimum 5845 NE 56th St Chris Thomason, (515) 309-6707 Altoona, IA 50009 [email protected] 8.0 Acres NE 54th Ave and I-35 242,629 $546,000 NAI Optimum Matt Lundberg, (515) 225-6395 Des Moines, IA 50313 [email protected]

8.40 Acres Light Industrial Land Lot 24 365,904 Negotiable NAI Optimum 7616 NE 50th Ave Chris Thomason, (515) 309-6707 Altoona, IA 50009 [email protected] 181 Acres NE University Ave and NE 64th St 7,884,360 $3,167,500 Peoples Company -West Des Moines NE 64th St Steve Bruere, (515) 222-1347 Pleasant Hill, IA 50327 [email protected] 51.40 Acres - NW 108th Pl and NE 80th St 2,238,984 $469,000 Peoples Company -West Des Moines Matt Adams, (515) 423-9235 Bondurant, IA 50035 [email protected] 75 Acres - NE 27th Ave & N 64th St 3,267,000 $1,875,000 Peoples Company -West Des Moines NE 27th Ave Matt Adams, (515) 423-9235 Altoona, IA 50009 [email protected] 9.5 Acres, Polk County Land 413,820 $200,000 Peoples Company -West Des Moines NE 64th St Steve Bruere, (515) 222-1347 Pleasant Hill, IA 50327 [email protected] 13.9 Acres Altoona Business Park Lot 5 474,760 Negotiable Peter A. Brown Commercial Real Estate Services 260 Adventureland Dr NW Peter Brown, (515) 277-1265 Altoona, IA 50009 [email protected] 27.26 Acres Altoona Business Park Lot 4 1,187,271 Negotiable Peter A. Brown Commercial Real Estate Services 265 Adventureland Dr NW Peter Brown, (515) 277-1265 Altoona, IA 50009 [email protected] 20.58 Acres - E Broadway Ave and Highway 65 896,465 $2,465,279 Rueters Paige Rueter Benlaala, (515) 370-3211 Altoona, IA 50317 [email protected] Redevelopment Land 1,670,090 $1,629,450 Terrus Real Estate Group, LLC 6193 NE 64th St Chris Dawson, (515) 471-4340 Altoona, IA 50009 [email protected] 6.46 Acres Hubbell Rd Portfolio Sale 281,398 $272,000 The Ploeger Group Grant St Greg Ploeger, (515) 314-3461 Bondurant, IA 50035 [email protected] 17.8 Acres Altoona Land Commercial/Industrial 775,368 $1,780,000 The Siedenburg Group-Des Moines 350 9th St NE Douglas Siedenburg, (515) 223-6222 Altoona, IA 50009 [email protected] Northwest

13.18 Acres NW Beaver Dr 574,121 $1,200,000 CBRE|Hubbell Commercial 5561 NW Beaver Dr Ryan Jensen, (515) 280-2067 Des Moines, IA 50131 [email protected] 14.6 Acres Woodside Business Park 635,976 $610,500 Iowa Realty Commercial Mick Grossman, (515) 222-0000 Des Moines, IA 50313 [email protected] 14.50 Acres NW 2nd St 631,620 $1,736,955 Knapp Properties, Inc Brian Erickson, CCIM, (515) 202-5035 Des Moines, IA 50311 [email protected] 5.45 Acres Big Creek Technology Campus Outlot Z 237,402 $237,402 Knapp Properties, Inc 941 N 3rd St Ben Garrett, (515) 401-7071 Polk City, IA 50226 [email protected] South

15.64 Acres SE 14th St 681,278 $681,278 Alpha One 7401 SE 14th St Dave Vance, (515) 964-9411 Des Moines, IA 50320 [email protected]

132 annual REAL ESTATE magazine | SOURCE: Exchange Solutions by Xceligent with total available of 220,000 SF or greater LAND for SALE

LAND NAME/LOCATION TOTAL AVAILABLE SALE PRICE LISTING COMPANY ADDRESS LISTING AGENT, PHONE CITY, STATE ZIP EMAIL 13.98 Hullen Lot C 608,969 $400,000 Buyer’s Realty, Inc. Dave Little, (515) 277-4000 Indianola, IA 50125 [email protected] 7.35 Acres Diehl Ave and SE 14th St Portfolio 320,166 $261,360 - Buyer’s Realty, Inc. 5512 SE 14th St $510,741 Jeff Daniels, (515) 277-4000 Des Moines, IA 50320 [email protected]

7.86 Acres Hullen Lot B 342,382 $300,000 Buyer’s Realty, Inc. Dave Little, (515) 277-4000 Indianola, IA 50125 [email protected] 10.52 Acres North Shore Commercial 458,251 $1,603,880 CBRE|Hubbell Commercial Craig King, (515) 221-6678 Norwalk, IA 50211 [email protected] 31.03 Acres The Legacy Business Park Portfolio 1,351,667 $182,952 - CBRE|Hubbell Commercial $856,607 Craig King, (515) 221-6678 Norwalk, IA 50211 [email protected] 360.0 Acres North Shore P.U.D. Land 15,681,600 $20,500,000 CBRE|Hubbell Commercial Craig King, (515) 221-6678 Norwalk, IA 50211 [email protected] 5.48 Acres Orchard Hills 238,709 $596,770 CBRE|Hubbell Commercial Craig King, (515) 221-6678 Norwalk, IA 50211 [email protected] 7.3 Acres Holland Farm Outlot Y 317,988 Negotiable CBRE|Hubbell Commercial Beardsley St Craig King, (515) 221-6678 Norwalk, IA 50211 [email protected] Gray’s Landing 5,662,800 Negotiable CBRE|Hubbell Commercial Bill Wright, (515) 221-6672 Des Moines, IA 50309 [email protected] 105.70 Acres S G St 4,604,292 $999,500 Ferguson Commercial Real Estate Services 1010 S G St Ben Digmann, (515) 309-0919 Indianola, IA 50125 [email protected]

58.26 Acres Knudsens Reserve Ferguson Commercial Real Estate Services Sale Price: $1,500,000 7251 SE 5th St Darin Ferguson, CCIM SIOR, (515) 440-0600 Des Moines, IA 50315 [email protected]

2,537,806 SF Available

Southglen Village Shopping Center Portfolio 962,676 $3,489,000 Hurd Real Estate Services Richie Hurd, (515) 778-1009 Des Moines, IA 50320 [email protected]

Walmart Supercenter Outlot 246,550 Negotiable Hurd Real Estate Services Richie Hurd, (515) 778-1009 Des Moines, IA 50320 [email protected]

0.83 Acres Plaza on 63rd St Outlot Iowa Realty Commercial Sale Price: Negotiable 6151 Thorton Ave Mick Grossman, (515) 222-0000 Des Moines, IA 50312 [email protected]

36,155 SF Available

16.45 Acres City of Des Moines Development 716,562 $428,000 Iowa Realty Commercial 3901 SW 42nd St Nathan Drew, (515) 453-5429 Des Moines, IA 50321 [email protected] 10.4 Acres Airport Commerce Park West P2 L14 453,024 $1,585,584 Knapp Properties, Inc 5700 Thornton Ave Ben Garrett, (515) 401-7071 Des Moines, IA 50321 [email protected] 123.93 Acres Southern Ridge 5,398,391 Negotiable Knapp Properties, Inc Ben Garrett, (515) 401-7071 Des Moines, IA 50320 [email protected] 26.67 Acres Airport Commerce Park South P 2 L 7 1,161,745 $2,904,363 Knapp Properties, Inc 3005 Gannett Ave Ben Garrett, (515) 401-7071 Des Moines, IA 50321 [email protected]

SOURCE: Exchange Solutions by Xceligent | annual REAL ESTATE magazine 133 LAND for SALE with total available of 220,000 SF or greater

LAND NAME/LOCATION TOTAL AVAILABLE SALE PRICE LISTING COMPANY ADDRESS LISTING AGENT, PHONE CITY, STATE ZIP EMAIL 5.11 Acres Airport Commerce Park South P1 L4 222,592 $556,479 Knapp Properties, Inc 2400 Gannett Ave Ben Garrett, (515) 401-7071 Des Moines, IA 50321 [email protected] 5.32 Acres Airport Commerce Park South P1 L8 231,739 $1,390,435 Knapp Properties, Inc 2600 SW 28th St Ben Garrett, (515) 401-7071 Des Moines, IA 50321 [email protected]

6.15 Acres Airport Commerce Park South P2 L 2 267,894 $669,735 Knapp Properties, Inc 2700 Gannett Ave Ben Garrett, (515) 401-7071 Des Moines, IA 50321 [email protected] 7.03 Acres Airport Commerce Park South P1 L17 306,227 $765,567 Knapp Properties, Inc 2401 Gannett Ave Ben Garrett, (515) 401-7071 Des Moines, IA 50321 [email protected] 7.44 Acres Airport Commerce Park South P 2 L 4 324,086 $810,216 Knapp Properties, Inc 2900 Gannett Ave Ben Garrett, (515) 401-7071 Des Moines, IA 50321 [email protected] 8.1 Acres Airport Commerce Park West P2 L13 352,836 $1,234,926 Knapp Properties, Inc 5900 Thornton Ave Ben Garrett, (515) 401-7071 Des Moines, IA 50321 [email protected] 24.10 Acres Airport Industrial Park 1,049,796 $1,312,245 Landmark Brokerage Services 6175 SW McKinley Ave Casey Shelton, (515) 402-3001 Des Moines, IA 50321 [email protected]

54.64 Acres Scotch Ridge Business Park Portfolio NAI Optimum Sale Price: Negotiable John Viggers, (515) 309-6704 Carlisle, IA 50047 [email protected]

2,380,118 SF Available

10.57 Acres 323 80th Ave 460,473 $238,088 - Peoples Company -West Des Moines 323 80th Ave $406,584 Scott Kelly, (515) 473-8913 Norwalk, IA 50211 [email protected] 10.66 Acres 13778 Summerset Rd 464,350 $85,000 Peoples Company -West Des Moines 13778 Summerset Rd Scott Kelly, (515) 473-8913 Indianola, IA 50125 [email protected] 60 Acres - Delaware St and Hwy 28 2,613,600 $2,100,000 Peoples Company -West Des Moines Scott Kelly, (515) 473-8913 Norwalk, IA 50211 [email protected] 65.91 Acres E Iowa Ave and N 15th St 2,871,040 $1,318,200 Peoples Company -West Des Moines Scott Kelly, (515) 473-8913 Indianola, IA 50125 [email protected]

114.02 Acres Devin Farm 4,966,711 Negotiable Peter A. Brown Commercial Real Estate Services 5260 Army Post Rd Peter Brown, (515) 277-1265 Des Moines, IA 50321 [email protected] 15.82 Acres Devin Farm 689,208 Negotiable Peter A. Brown Commercial Real Estate Services SW Pine Ave Peter Brown, (515) 277-1265 Des Moines, IA 50321 [email protected] 11.98 Acres Hillcrest Industrial Park 521,849 $380,000 RE/MAX Real Estate Group Don Godwin, (515) 210-4406 Indianola, IA 50125 [email protected] 12.72 Acres Highway 65 69 554,083 $220,000 Signature Resources-Century 21 Signature Real Est Highway 65 69 Ethan Hokel, (865) 801-1887 Des Moines, IA 50320 [email protected] 5.94 Acres County Line Rd and SE 5th St Portfolio 258,746 $450,000 Stanbrough Realty Company SE 5th St Daniel Connolly, J.D., (515) 707-4676 Des Moines, IA 50315 [email protected] Western Suburbs North

11.61 Acres Urbandale Marketplace Retail 2 505,732 Negotiable Blackacre Realty, LLC Kurt Pagliai, (515) 202-8800 Urbandale, IA 50233 [email protected]

134 annual REAL ESTATE magazine | SOURCE: Exchange Solutions by Xceligent with total available of 220,000 SF or greater LAND for SALE

LAND NAME/LOCATION TOTAL AVAILABLE SALE PRICE LISTING COMPANY ADDRESS LISTING AGENT, PHONE CITY, STATE ZIP EMAIL 44.51 Acres Urbandale Marketplace Portfolio Sale 1,938,856 Negotiable Blackacre Realty, LLC Hwy 141 Kurt Pagliai, (515) 202-8800 Urbandale, IA 50233 [email protected] 7.02 Acres Urbandale Marketplace Office I 305,791 Negotiable Blackacre Realty, LLC Kurt Pagliai, (515) 202-8800 Urbandale, IA 50233 [email protected]

9.89 Acres Urbandale Marketplace Retail 1 430,808 Negotiable Blackacre Realty, LLC Kurt Pagliai, (515) 202-8800 Urbandale, IA 50233 [email protected] SW of Hickman Rd and Alices Rd 2,748,200 Negotiable Blackacre Realty, LLC Marilyn Etzel, (515) 414-5768 Waukee, IA 50263 [email protected] 130.0 Acres Oakleaf Property West 5,662,800 Negotiable Buyer’s Realty, Inc. Dave Little, (515) 277-4000 Waukee, IA 50263 [email protected] Heritage Park 602,870 $836,352 - Buyer’s Realty, Inc. $1,685,770 Mike Cunningham, (515) 277-4000 Urbandale, IA 50322 [email protected] Rider Corner Development Portfolio 453,460 $1,149,990 - Buyer’s Realty, Inc. Urbandale $2,399,287 Dave Little, (515) 277-4000 Urbandale, IA 50233 [email protected] 104.75 Acres 156th Street & 250th Street 4,562,910 $2,514,000 CBRE|Hubbell Commercial Ryan Jensen, (515) 280-2067 Urbandale, IA 50111 [email protected] 11.8 Acres Grimes Business Park Portfolio 514,008 $225,095 - CBRE|Hubbell Commercial $524,900 Jon Ledinsky, (515) 221-6685 Grimes, IA 50111 [email protected] 15.83 Acres Windsor Office Park Portfolio 689,555 $239,166 - CBRE|Hubbell Commercial $376,794 Paul Weeks, (515) 221-6691 Johnston, IA 50131 [email protected] 17.3 Acres Birchwood Crossing Development Land 753,588 $3,391,000 CBRE|Hubbell Commercial Paul Weeks, (515) 221-6691 Johnston, IA 50131 [email protected] 9.4 Acres 8605 NW 70th Ave 409,464 $1,143,450 CBRE|Hubbell Commercial 8605 NW 70th Ave Tyler Dingel, (515) 221-6662 Johnston, IA 50131 [email protected] 9.33 Acres NW Prairie Ln 406,415 $182,300 - Chayse Holdings Broker Services LLC 3081 NW Prairie Ln $202,555 Jaime Niblo, (515) 447-3399 Johnston, IA 50313 [email protected]

10.29 Aces Autumn Ridge Portfolio 448,668 $969,644 - Denny Elwell Company $1,562,496 Mike Billings, (515) 964-1587 Waukee, IA 50263 [email protected] 10.4 Acres Williams Pointe Portfolio 453,024 $1,629,144 - Denny Elwell Company 1195 SE University Ave $2,225,266 Mike Billings, (515) 964-1587 Waukee, IA 50263 [email protected] 18.0 Acres Heard Gardens Portfolio 784,080 $2,500,000 Denny Elwell Company Leasing Sales, (515) 964-1587 Johnston, IA 50131 [email protected] 7.88 Acres Heard Gardens Lot 6 343,253 $1,715,610 Denny Elwell Company 5625 Merle Hay Rd Leasing Sales, (515) 964-1587 Johnston, IA 50131 [email protected] 6400 Highway 141 4,871,315 $24,356,000 Developers Realty Group 6400 Highway 141 Dorrance Brezina, (515) 778-0787 Grimes, IA 50111 [email protected] SE of Hwy 141 and 62nd Ave 4,871,315 $24,356,000 Developers Realty Group Hwy Connor Delaney, (515) 334-5455 Grimes, IA 50111 [email protected] 11.98 Acres Crossroads Business Park Portfolio 521,849 $1,017,604 Hurd Real Estate Services Daniel Hurd, (515) 778-1006 Urbandale, IA 50322 [email protected]

SOURCE: Exchange Solutions by Xceligent | annual REAL ESTATE magazine 135 LAND for SALE with total available of 220,000 SF or greater

LAND NAME/LOCATION TOTAL AVAILABLE SALE PRICE LISTING COMPANY ADDRESS LISTING AGENT, PHONE CITY, STATE ZIP EMAIL North Pointe Outlot A 810,216 $1,580,000 Hurd Real Estate Services Richie Hurd, (515) 778-1009 Grimes, IA 50063 [email protected] NW of Hickman Rd and NW 156th St 673,438 Negotiable Hurd Real Estate Services 15600 Hickman Rd Richard Hurd, (515) 225-1102 Clive, IA 50325 [email protected]

SE of NE 18th St and NE Grimes Blvd 810,216 $1,580,000 Hurd Real Estate Services Richie Hurd, (515) 778-1009 Grimes, IA 50111 [email protected] 35.4 Acres Hickman Rd and Alices Rd 1,542,024 $8,500,000 Iowa Realty Commercial Kevin Crowley, (515) 453-5429 Waukee, IA 50263 [email protected] 73.57 Acres SE 37th St and S James St 3,204,709 $5,885,600 Iowa Realty Commercial Kevin Crowley, (515) 453-5429 Grimes, IA 50111 [email protected] 8.93 Acres Merle Hay Rd 388,991 $1,100,000 Iowa Realty Commercial 6600 Merle Hay Rd Chris Pendroy, (515) 453-5450 Johnston, IA 50131 [email protected] 9.97 Acres Merle Hay Rd Redevelopment 434,293 $1,689,000 Iowa Realty Commercial 6454 Merle Hay Rd Chris Pendroy, (515) 453-5450 Johnston, IA 50131 [email protected] SE of Hickman Rd and 156th St 226,948 $1,200,000 Iowa Realty Commercial John Knapp, (515) 453-5467 Clive, IA 50325 [email protected] 10.0 Acres Destination Ridge Lot 13 435,600 $2,178,000 Knapp Properties, Inc Ben Garrett, (515) 401-7071 Grimes, IA 50111 [email protected] 10.0 Acres Destination Ridge Lot 14 435,600 $3,267,000 Knapp Properties, Inc Ben Garrett, (515) 401-7071 Grimes, IA 50111 [email protected]

10.2 Acres Merle Hay Rd Knapp Properties, Inc Sale Price: Negotiable 5055 Merle Hay Rd Ben Garrett, (515) 401-7071 Johnston, IA 50131 [email protected]

444,312 SF Available

12.0 Acres The Crossing at Alice’s Rd - MUH 522,720 Negotiable Knapp Properties, Inc Hickman Rd Ben Garrett, (515) 401-7071 Waukee, IA 50263 [email protected]

15.56 Acres Destination Ridge Lot 1 677,794 $2,033,381 Knapp Properties, Inc Ben Garrett, (515) 401-7071 Grimes, IA 50111 [email protected] 24.0 Acres The Crossing at Alice’s Road - Retail 1,045,440 Negotiable Knapp Properties, Inc Ben Garrett, (515) 401-7071 Waukee, IA 50263 [email protected] 5.72 Acres 5460-5495 West Pkwy Portfolio 248,728 Negotiable Knapp Properties, Inc 5460 West Pkwy Ben Garrett, (515) 401-7071 Johnston, IA 50131 [email protected] 5.9 Acres Timberline Village Lot T 257,004 $1,285,020 Knapp Properties, Inc Ben Garrett, (515) 401-7071 Urbandale, IA 50323 [email protected] 7.1 Acres Timberline Village Lot V 309,276 $1,546,380 Knapp Properties, Inc Douglas Pkwy Ben Garrett, (515) 401-7071 Urbandale, IA 50323 [email protected] 7.76 Acres Interstate Acres Portfolio 338,026 $1,690,130 - Knapp Properties, Inc $5,070,390 Ben Garrett, (515) 401-7071 Urbandale, IA 50322 [email protected] 9.36 Acres Walnut Ridge Business Park Portfolio 407,722 $383,676 - Knapp Properties, Inc $1,461,002 Ben Garrett, (515) 401-7071 Urbandale, IA 50322 [email protected]

136 annual REAL ESTATE magazine | SOURCE: Exchange Solutions by Xceligent with total available of 220,000 SF or greater LAND for SALE

LAND NAME/LOCATION TOTAL AVAILABLE SALE PRICE LISTING COMPANY ADDRESS LISTING AGENT, PHONE CITY, STATE ZIP EMAIL 9.49 Acres Timberline Village Lot Q 413,384 $2,066,920 Knapp Properties, Inc Douglas Pkwy Ben Garrett, (515) 401-7071 Urbandale, IA 50323 [email protected] 9.77 Acres Destination Ridge Lot 10 425,581 $1,276,744 Knapp Properties, Inc Ben Garrett, (515) 401-7071 Grimes, IA 50111 [email protected]

6.67 Acres Landmark Office Park 290,545 $1,162,180 Landmark Brokerage Services Casey Shelton, (515) 402-3001 Urbandale, IA 50322 [email protected] 8.0 Acres Landmark Office Park 348,480 $1,393,920 Landmark Brokerage Services Casey Shelton, (515) 402-3001 Urbandale, IA 50322 [email protected] 8.42 Acres Landmark Office Park 366,775 $1,467,100 Landmark Brokerage Services Casey Shelton, (515) 402-3001 Urbandale, IA 50322 [email protected] 56 Acres SE 28th St 2,439,360 $4,878,720 - M-Keds II, Ltd. 28th St $24,393,600 Karl Schlenker, (515) 314-1391 Grimes, IA 50111 [email protected] 15.00 Acres Waterford Pointe 653,400 $1,633,500 MCR | Morton Commercial Real Estate Shannon Morton, (515) 508-1930 Urbandale, IA 50323 [email protected] 10.91 Acres Princeton Business Park Portfolio Sale 468,270 $195,367 - NAI Optimum NW 62nd Ave $354,470 Matt Lundberg, (515) 225-6395 Grimes, IA 50111 [email protected] 23.09 Acres Hwy 44 and Hwy 141 1,005,800 $4,675,000 NAI Optimum Kurt Mumm, (515) 309-6702 Grimes, IA 50111 [email protected] 34.68 Acres Meredith Dr 1,508,483 $3,771,208 NAI Optimum 12408 Meredith Dr Steve Scott, (515) 309-6705 Urbandale, IA 50323 [email protected] 9.74 Acres Hickman Rd Portfolio Sale 424,274 Negotiable NAI Optimum Steve Scott, (515) 309-6705 Clive, IA 50323 [email protected] 10.00 Acres Plat 1 Lot 1 435,600 $289,000 Peoples Company 8952 NW 121st St Kalen Ludwig, (515) 402-3169 Grimes, IA 50111 [email protected] 11.93 Acres Plat 2 Lot 4 519,671 $325,000 Peoples Company 8952 NW 121st St Kalen Ludwig, (515) 402-3169 Grimes, IA 50111 [email protected]

12.83 Acres Plat 2 Lot 3 558,875 $350,000 Peoples Company 8952 NW 121st St Kalen Ludwig, (515) 402-3169 Grimes, IA 50111 [email protected] 9.24 Acres Plat 1 Lot 2 402,494 $295,000 Peoples Company 8952 NW 121st St Kalen Ludwig, (515) 402-3169 Grimes, IA 50111 [email protected] Highland Pointe 1,607,364 Negotiable R&R Real Estate Advisors Paul Rupprecht, (515) 223-4500 Urbandale, IA 50322 [email protected] Paragon Office Park - Office Land 5,915,448 Negotiable R&R Real Estate Advisors Paul Rupprecht, (515) 223-4500 Urbandale, IA 50322 [email protected] Paragon Office Park - Retail Land 2,417,580 Negotiable R&R Real Estate Advisors Paul Rupprecht, (515) 223-4500 Urbandale, IA 50322 [email protected] 20.0 Acres Meredith Dr 871,200 Negotiable Signature Commercial-Clive 10835 Meredith Dr Andy Hodges, (515) 221-9990 Urbandale, IA 50323 [email protected] 25.28 Acres Northpark Office Ground South 1,101,197 $5,505,985 The Siedenburg Group-Des Moines 9300 Northpark Dr Douglas Siedenburg, (515) 223-6222 Urbandale, IA 50322 [email protected]

SOURCE: Exchange Solutions by Xceligent | annual REAL ESTATE magazine 137 LAND for SALE with total available of 220,000 SF or greater

LAND NAME/LOCATION TOTAL AVAILABLE SALE PRICE LISTING COMPANY ADDRESS LISTING AGENT, PHONE CITY, STATE ZIP EMAIL 32.35 Acres Windsor Pkwy and NW 86th St Outlot Z 1,409,166 $5,425,289 The Siedenburg Group-Des Moines Douglas Siedenburg, (515) 223-6222 Johnston, IA 50131 [email protected] 34.39 Acres Northpark Office Ground North 1,498,028 $7,490,140 The Siedenburg Group-Des Moines 9301 Northpark Dr Douglas Siedenburg, (515) 223-6222 Urbandale, IA 50322 [email protected]

Alm’s Property 660,631 $3,000,000 The York Companies Randy York, (515) 267-1040 Johnston, IA 50131 [email protected] Simpson’s Property 1,742,400 $5,000,000 The York Companies NW 70th Ave Randy York, (515) 267-1040 Johnston, IA 50131 [email protected] Western Suburbs South

19.1 Acres S 50th Pl 831,996 $1,290,000 Anderson Properties 1809 S 50th Pl Jeff Saddoris, (515) 371-3023 West Des Moines, IA 50265 [email protected] 103.15 Acres Grand Prairie/Wendover Portfolio 4,493,214 Negotiable Blackacre Realty, LLC Wendover Rd Marilyn Etzel, (515) 414-5768 West Des Moines, IA 50263 [email protected] 17.5 Acres S Jordan Creek Pkwy 762,300 Negotiable Blackacre Realty, LLC Cascade Ave Marilyn Etzel, (515) 414-5768 West Des Moines, IA 50266 [email protected] 18.58 Acres S Jordan Creek Pwky 809,345 Negotiable Blackacre Realty, LLC Cascade Ave Marilyn Etzel, (515) 414-5768 West Des Moines, IA 50266 [email protected] 19.88 Acres S Jordan Creek Pkwy 865,973 Negotiable Blackacre Realty, LLC Cascade Ave Marilyn Etzel, (515) 414-5768 West Des Moines, IA 50266 [email protected] 20.61 Acres S Jordan Creek Pkwy 897,772 Negotiable Blackacre Realty, LLC Cascade Ave Marilyn Etzel, (515) 414-5768 West Des Moines, IA 50266 [email protected] 26.31 Acres Grand Prairie/Wendover Portfolio 1,146,064 Negotiable Blackacre Realty, LLC Wendover Rd Marilyn Etzel, (515) 414-5768 Waukee, IA 50263 [email protected] 38.0 Acres Grand Prairie/Wendover 1,655,280 Negotiable Blackacre Realty, LLC Wendover Rd Marilyn Etzel, (515) 414-5768 Waukee, IA 50263 [email protected]

38.0 Acres Mills Civic Pkwy and S 81st St 1,655,280 Negotiable Blackacre Realty, LLC Mills Civic Pkwy Marilyn Etzel, (515) 414-5768 West Des Moines, IA 50266 [email protected] 38.79 Acres Grand Prairie/Wendover Portfolio 1,689,692 Negotiable Blackacre Realty, LLC Wendover Rd Marilyn Etzel, (515) 414-5768 Waukee, IA 50263 [email protected] 40.0 Acres S Jordan Creek Pkwy 1,742,400 Negotiable Blackacre Realty, LLC Cascade Ave Marilyn Etzel, (515) 414-5768 West Des Moines, IA 50266 [email protected] 40.0 Acres S Jordan Creek Pkwy 1,742,400 Negotiable Blackacre Realty, LLC Cascade Ave Marilyn Etzel, (515) 414-5768 West Des Moines, IA 50266 [email protected] 6.09 Acres S Jordan Creek Pkwy 265,280 Negotiable Blackacre Realty, LLC Cascade Ave Marilyn Etzel, (515) 414-5768 West Des Moines, IA 50266 [email protected] 8.25 Acres S Jordan Creek Pkwy 359,370 Negotiable Blackacre Realty, LLC Cascade Ave Marilyn Etzel, (515) 414-5768 West Des Moines, IA 50266 [email protected] 9.94 Acres S Jordan Creek Pkwy 432,986 Negotiable Blackacre Realty, LLC S Jordan Creek Pkwy Marilyn Etzel, (515) 414-5768 West Des Moines, IA 50266 [email protected]

138 annual REAL ESTATE magazine | SOURCE: Exchange Solutions by Xceligent with total available of 220,000 SF or greater LAND for SALE

LAND NAME/LOCATION TOTAL AVAILABLE SALE PRICE LISTING COMPANY ADDRESS LISTING AGENT, PHONE CITY, STATE ZIP EMAIL 6.72 Acres Core Plaza Lot 6 292,723 Negotiable Buyer’s Realty, Inc. Robb Lydon, (515) 277-4000 West Des Moines, IA 50266 [email protected] 9.27 Acres Ashworth Rd 403,801 $1,150,800 Buyer’s Realty, Inc. 3293 Ashworth Rd Dave Little, (515) 277-4000 Waukee, IA 50263 [email protected]

Burt Park Estates 1,829,520 Negotiable Buyer’s Realty, Inc. Dave Little, (515) 277-4000 West Des Moines, IA 50266 [email protected] 12.47 Acres Woodland Hills Lot S 543,193 $2,173,050 CBRE|Hubbell Commercial Craig King, (515) 221-6678 West Des Moines, IA 50265 [email protected]

12.62 Acres Greenway Crossing Portfolio CBRE|Hubbell Commercial Sale Price: $291,634 - $4,654,819 Paul Weeks, (515) 221-6691 West Des Moines, IA 50266 [email protected]

545,371 SF Available

13.42 Acres Woodland Hills Multi Family Land 584,575 $1,543,300 CBRE|Hubbell Commercial Craig King, (515) 221-6678 West Des Moines, IA 50266 [email protected] 15.65 Acres Grand Ave & Raccoon River Rd 681,714 Negotiable CBRE|Hubbell Commercial Tyler Dingel, (515) 221-6662 West Des Moines, IA 50266 [email protected] 20.36 Acres Grand Ave & Raccoon River Portfolio Sa 886,882 $2,200,000 CBRE|Hubbell Commercial Tyler Dingel, (515) 221-6662 West Des Moines, IA 50266 [email protected] 43.72 Acres Highway 5 & Veteran’s Pkwy 1,904,313 $5,236,860 CBRE|Hubbell Commercial Veterans Pkwy Craig King, (515) 221-6678 West Des Moines, IA 50265 [email protected] 65.28 Acres Mills Civic Pkwy and S Jordan Creek Pk 2,843,597 $20,000,000 CBRE|Hubbell Commercial Colleen Johnson, (515) 280-2052 West Des Moines, IA 50266 [email protected] 7.11 Acres Jordan Creek I 309,712 $2,000,000 CBRE|Hubbell Commercial 7315 Westown Pkwy Riley Hogan, (515) 221-6683 West Des Moines, IA 50266 [email protected] 70.89 Acres Wild Rose Estates Land 3,087,968 $1,339,821 CBRE|Hubbell Commercial Craig King, (515) 221-6678 West Des Moines, IA 50061 [email protected]

77.53 Acres Ashworth and U Pl 3,377,207 $2,800,000 Connolly Realty Group Matt Connolly, (515) 975-9600 Waukee, IA 50263 [email protected] 6.01 Acre Williams Pointe 261,796 $2,225,266 Denny Elwell Company Mike Billings, (515) 964-1587 Waukee, IA 50263 [email protected] 100 Veterans Pkwy 1,568,160 $3,960,000 Developers Realty Group 100 Veterans Pkwy Dorrance Brezina, (515) 778-0787 West Des Moines, IA 50266 [email protected] 1566-1570 Maffitt Lake Rd 805,860 $1,000,000 Developers Realty Group 1566 Maffitt Lake Rd Dorrance Brezina, (515) 778-0787 West Des Moines, IA 50265 [email protected] 7.48 Acres Maffit Lake Rd 325,829 $1,300,000 Developers Realty Group Connor Delaney, (515) 334-5455 West Des Moines, IA 50265 [email protected] SE of Grand Ave and IH-35 2,918,520 $15,000,000 Developers Realty Group Grand Ave Dorrance Brezina, (515) 778-0787 West Des Moines, IA 50266 [email protected] SW of Grand Ave and IH-35 1,089,000 $6,500,000 Developers Realty Group Grand Ave Dorrance Brezina, (515) 778-0787 West Des Moines, IA 50266 [email protected]

SOURCE: Exchange Solutions by Xceligent | annual REAL ESTATE magazine 139 LAND for SALE with total available of 220,000 SF or greater

LAND NAME/LOCATION TOTAL AVAILABLE SALE PRICE LISTING COMPANY ADDRESS LISTING AGENT, PHONE CITY, STATE ZIP EMAIL SE of Mills Civic Pkwy and S 88th St 1,742,400 Negotiable Hurd Real Estate Services Richie Hurd, (515) 778-1009 West Des Moines, IA 50266 [email protected]

Willow Creek Business Park Hurd Real Estate Services Sale Price: Negotiable Daniel Hurd, (515) 778-1006 West Des Moines, IA 50265 [email protected]

6,074,442 SF Available

SW of SW 72nd Ave and S 20th St 3,484,800 Negotiable Iowa Realty Commercial Maffitt Lake Rd John Knapp, (515) 453-5467 West Des Moines, IA 50265 [email protected] 10.3 Acres Reed’s Crossing at Jordan Creek 448,668 $11,216,700 Keller Williams-Des Moines Stevin Dahl, (515) 451-3000 West Des Moines, IA 50266 [email protected] 145.0 Acres Southwest Commerce Park 6,316,200 $22,106,700 Knapp Properties, Inc Ben Garrett, (515) 401-7071 West Des Moines, IA 50320 [email protected] 19.3 Acres Southwest Commerce Park Parcel A 840,708 $2,942,478 Knapp Properties, Inc Highway 5 Ben Garrett, (515) 401-7071 West Des Moines, IA 50265 [email protected] 19.4 Acres Kettlestone Multi-Family 845,064 Negotiable Knapp Properties, Inc Ashworth Rd Ben Garrett, (515) 401-7071 Waukee, IA 50263 [email protected] 5.1 Acres Hickman Rd Portfolio Sale 222,156 $3,110,184 - Knapp Properties, Inc Hickman Rd $3,998,808 Ben Garrett, (515) 401-7071 Waukee, IA 50263 [email protected] 6.03 Acres S 68th St and Stagecoach Dr 262,667 Negotiable Knapp Properties, Inc S 68th St Ben Garrett, (515) 401-7071 West Des Moines, IA 50266 [email protected] 80.0 Acres Kettlestone Retail Commercial 3,484,800 Negotiable Knapp Properties, Inc Ashworth Rd Ben Garrett, (515) 401-7071 Waukee, IA 50263 [email protected] 260.0 Acres Pavilion Park 11,325,600 Negotiable Landmark Brokerage Services EP True Pkwy Casey Shelton, (515) 402-3001 West Des Moines, IA 50266 [email protected] 6.40 Acres The Landing At Shadow Creek Portfolio S 278,784 $609,860 - Landmark Brokerage Services NE Alice’s Rd $1,010,592 Casey Shelton, (515) 402-3001 Waukee, IA 50263 [email protected]

3.87 Acres SE Westown Pkwy NAI Optimum Sale Price: $986,175 295 SE Westown Pkwy Matt Lundberg, (515) 225-6395 Waukee, IA 50263 [email protected]

168,577 SF Available

60.0 Acres Midwest Technology Park 2,657,160 Negotiable R&R Equity Partners-R&R Equity Partners 8295 Booneville Rd Brett Bosworth, (515) 974-5234 West Des Moines, IA 50266 [email protected] 116.37 Acres Hwy 5 and Fleur Dr 5,069,077 $3,200,175 Rueters Paige Rueter Benlaala, (515) 370-3211 West Des Moines, IA 50211 [email protected] 63.0 Acres SE of Maffitt Lake Rd & S 50th St 2,744,280 Negotiable Terrus Real Estate Group, LLC Sherri Goode, (515) 471-4310 West Des Moines, IA 50061 [email protected] 36.24 Acres The Gardens at Kettlestone Portfolio 1,578,614 Negotiable Tessau Realty SE University Ave Angela Tessau, (515) 707-6889 Waukee, IA 50263 [email protected] 25.0 Acres West Des Moines Office Land 1,089,000 $4,000,000 The Siedenburg Group-Des Moines Douglas Siedenburg, (515) 223-6222 West Des Moines, IA 50266 [email protected]

140 annual REAL ESTATE magazine | SOURCE: Exchange Solutions by Xceligent Know Iowa Real Estate

Dave Vance Our twelve-attorney Commercial Real Estate Real Estate team works Broker & Consultant, CCIM alongside lenders, property owners, and businesses on agricultural, commercial, and residential land matters

throughout the state of Iowa. -HQQLIHU/'UDNH Our services are dictated by Member Attorney client needs and can include GUDNH#ZKLW¿HOGODZFRP platting, development agreements, negotiations for purchase, title opinions, loan documentation, zoning, regulation, and litigation. P.O. Box 944 Ankeny, IA 50021-0944 [email protected] Contact Kara and Jennifer .DUD06LQQDUG to learn more about how Member Attorney 515.964.9411 ZHSXWFOLHQWV¿UVW VLQQDUG#ZKLW¿HOGODZFRP 515.964.9416 (fax) alphaoneonline.com

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EVOLUTION OF THE DOWNTOWN CORE As urban centers evolve, companies, developers and government agencies are reconsidering how space is allocated in our environment, putting more focus on public space and amenities that promote livability and walkability.

IMPACT: To understand this shift toward devoting valuable They want to live, work and play within an increasingly real estate to uses that don’t directly generate profit, we smaller geographic radius. Savvy businesses recognize must look to past, present and future efforts in cities such the potential economic impact this population wields. as ours. Consequently, they understand that investing in urban amenities, such as dedicated public spaces, will attract In Des Moines, planning efforts for the downtown area future generations to our city and state and keep them here. that started as far back as the 1980s and ’90s are being fully realized. For insight on the impact this trend toward densification will have on Des Moines, we can look to larger U.S. The completion of the Krause Gateway Center in 2018 will cities and those around the globe where real estate has be the final puzzle piece of what has been a decades-long long been precious and costly, and where mixing private revitalization of the Western Gateway. The East Village is developments with public amenities has been the norm. vibrant with continued investment in retail and housing, Reuse of small, infill and blighted sites will likely grow, major public spaces throughout the downtown have seen as will the resurgence of downtown retail, building on the a renaissance, and efforts building around the Riverwalk success of the East Village area. demonstrate future potential. WAY TOO EARLY PREDICTION: These investments and others have resulted in a demand In 10 years ...Parking ramps as we know them will for downtown living. All you need to do is look around the disappear from the downtown landscape. Urbanization, skyline dotted with construction and cranes to see proof density and land value will push the majority of cars out of development. Millennials’ and subsequent generations’ of the city center, with those remaining shifting to smaller, demand for integration of their work and personal lives underground ramps using automated parking machines to drives this. maximize efficiency.

DANIELLE HERMANN Associate Principal, OPN Architects

142 annual REAL ESTATE magazine REAL ESTATE jll.com/des-moines APPRAISERS & CONSULTANTS At JLL, we believe in the human side of COMMERCIAL / AGRICULTURAL business. Why? Because it makes us better at delivering the business side of business.

In 2016, we delivered on that committment. 35 34+ 2 BOV’s research new key prepared reports teammates x Fred Lock, MAI, SRPA

Dan Dvorak, MAI x 1.7M 85 Jim Rothermich, Real Estate Appraiser x 1 @TheLandTalker total SF total deals team working www.iowaappraisal.com/blog x leased & sold for you x x Thank you, Iowa! Heath D. Bullock, CCIM, SIOR Justin Lossner, CCIM +1 515 554 7412 + 1 515 371 0846 Marcus R. Pitts, CCIM, SIOR Jeremy Spillman +1 515 556 4727 + 1 515 207 0761 ͷͳͷǤʹͺ͵ǤͲͳͶ͸ȁǤ Ǥ

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LAND NAME/LOCATION TOTAL AVAILABLE LEASE RATE LISTING COMPANY ADDRESS MAXCONTIGUOUS SPACE LEASE TYPE LISTING AGENT, PHONE CITY, STATE ZIP MINDIVISIBLE SPACE EMAIL Ankeny

16.66 Acres Metro North Business Park Portfolio 725,710 $1.20 Denny Elwell Company 2902 SE Convenience Blvd 725,709 Ground Lease Leasing Sales, (515) 964-1587 Ankeny, IA 50021 43,560 [email protected]

2.1 Acres SE Delaware Ave 91,476 $2.20 Denny Elwell Company 4575 SE Delaware Ave 91,476 Ground Lease Leasing Sales, (515) 964-1587 Ankeny, IA 50021 91,476 [email protected] 4.97 Acres Metro North Business Park Lot 6 216,493 $1.20 Denny Elwell Company 2902 SE Convenience Blvd 216,493 Ground Lease Leasing Sales, (515) 964-1587 Ankeny, IA 50021 43,560 [email protected] 5.8 Acres Metro North Business Park Lot 4 252,648 $1.50 Denny Elwell Company 3202 SE Convenience Blvd 252,648 Ground Lease Leasing Sales, (515) 964-1587 Ankeny, IA 50021 43,560 [email protected] 5.97 Acres Metro North Business Park Lot 5 216,493 $1.20 Denny Elwell Company 3002 SE Convenience Blvd 216,493 Ground Lease Leasing Sales, (515) 964-1587 Ankeny, IA 50021 43,560 [email protected] 17.88 Acres SE Creekview Dr 778,853 Negotiable Eychaner Properties 201 SE Creekview Dr 778,852 Ground Lease Rich Eychaner, (515) 262-0000x 101 Ankeny, IA 50021 130,680 [email protected] 26.0 Acres SE Creekview Dr 1,132,560 Negotiable Eychaner Properties 301 SE Creekview Dr 1,132,560 Ground Lease Rich Eychaner, (515) 262-0000x 101 Ankeny, IA 50021 87,120 [email protected] 1.64 Acres Campus Town Development 71,438 Negotiable Ferguson Commercial Real Estate Services 71,438 Aaron Hyde, (515) 309-0916 Ankeny, IA 50021 71,438 [email protected] 4.48 Acres Campus Town Development 195,149 Negotiable Ferguson Commercial Real Estate Services 195,148 Aaron Hyde, (515) 309-0916 Ankeny, IA 50021 195,149 [email protected] 6.2 Acres 7315 SE Four Mile Dr 270,072 Negotiable NAI Optimum 7315 SE Four Mile Dr 270,072 Ground Lease Matt Lundberg, (515) 225-6395 Ankeny, IA 50021 270,072 [email protected] 6.4 Acres SE Northstar Dr 278,784 Negotiable NAI Optimum 7405 SE Northstar Dr 278,784 Ground Lease Kurt Mumm, (515) 309-6702 Ankeny, IA 50021 278,784 [email protected] Northeast

2.34 Acres - 687 31st St SW 101,930 Negotiable NAI Optimum-Iowa 687 31st St SW 101,930 Ground Lease Christopher Stafford, (515) 309-6706 Altoona, IA 50009 101,930 [email protected] Northwest

10.0 Park Ave 435,600 Negotiable Signature Commercial-Clive 5701 Park Ave 435,600 Ground Lease Andy Hodges, (515) 221-9990 Des Moines, IA 50321 435,600 [email protected] 12.0 Acres Park Ave 522,720 Negotiable Signature Commercial-Clive 5701 Park Ave 522,720 Ground Lease Andy Hodges, (515) 221-9990 Des Moines, IA 50321 522,720 [email protected] 4224 Merle Hay Rd 100,188 $.00 Rueters 4224 Merle Hay Rd 100,188 Ground Lease Paige Rueter Benlaala, (515) 370-3211 Des Moines, IA 50310 87,120 [email protected] South

2.0 Acres SE 14th St 87,120 Negotiable Buyer’s Realty, Inc. 5316 SE 14th St 87,120 Jeff Daniels, (515) 277-4000 Des Moines, IA 50320 87,120 [email protected]

144 annual REAL ESTATE magazine | SOURCE: Exchange Solutions by Xceligent with total available of 71,400 SF or greater LAND for LEASE

LAND NAME/LOCATION TOTAL AVAILABLE LEASE RATE LISTING COMPANY ADDRESS MAXCONTIGUOUS SPACE LEASE TYPE LISTING AGENT, PHONE CITY, STATE ZIP MINDIVISIBLE SPACE EMAIL NW of Diehl Ave and SE 14th St Lot B 145,926 Negotiable Buyer’s Realty, Inc. 145,926 Ground Lease Jeff Daniels, (515) 277-4000 Des Moines, IA 50320 145,926 [email protected] NW of Diehl Ave and SE 14th St Lot C 108,900 Negotiable Buyer’s Realty, Inc. 108,900 Ground Lease Jeff Daniels, (515) 277-4000 Des Moines, IA 50320 108,900 [email protected]

3121 Ingersoll Ave Hurd Real Estate Services Maxcontiguous Space: 121,097 3121 Ingersoll Ave Richie Hurd, (515) 778-1009 Mindivisible Space: 121,097 Des Moines, IA 50312 [email protected] Lease Rate: Negotiable Lease Type: Ground Lease 121,097 SF Available

2.0 Acres Airport Area Retail Lot 87,120 $.00 The Siedenburg Group-Des Moines 6900 Fleur Dr 87,120 NNN Douglas Siedenburg, (515) 223-6222 Des Moines, IA 50321 87,120 [email protected] Western Suburbs North

2.37 Acres Highgates Plaza 103,237 Negotiable CBRE/Hubbell Commercial 13,000 NNN Ajdin Nadarevic, (515) 221-6684 West Des Moines, IA 50266 103,411 [email protected] Waukee Marketplace Lot 5 99,317 Negotiable Hurd Real Estate Services 16200 Hickman Rd 3,500 Ground Lease Richard Hurd, (515) 225-1102 Waukee, IA 50263 99,317 [email protected] Waukee Marketplace Lot 7 121,532 Negotiable Hurd Real Estate Services 16200 Hickman Rd 8,250 Ground Lease Richard Hurd, (515) 225-1102 Waukee, IA 50263 121,532 [email protected] Woodlands Crossing 119,790 Negotiable JLL-Des Moines 12622 Hickman Rd 119,790 Heath Bullock, (515) 554-7412 Clive, IA 50325 43,560 [email protected] 23.09 Acres Hwy 44 and Hwy 141 1,005,800 Negotiable NAI Optimum 1,005,800 Ground Lease Kurt Mumm, (515) 309-6702 Grimes, IA 50111 1,005,800 [email protected] 0.93 Acres Northpark Court 405,108 Negotiable Premier Real Estate Services 8851 Northpark Ct 40,510 Ground Lease Josiah Burton, (515) 440-1111 Johnston, IA 50131 40,511 [email protected] Highland Pointe 1,607,364 Negotiable R&R Real Estate Advisors 1,607,364 Paul Rupprecht, (515) 223-4500 Urbandale, IA 50322 87,120 [email protected]

20.0 Acres Meredith Dr 871,200 Negotiable Signature Commercial-Clive 10835 Meredith Dr 871,200 Ground Lease Andy Hodges, (515) 221-9990 Urbandale, IA 50323 871,200 [email protected] 5.0 Acres Douglas Ave 217,800 Negotiable Signature Commercial-Clive 11000 Douglas Ave 217,800 Ground Lease Andy Hodges, (515) 221-9990 Urbandale, IA 50322 217,800 [email protected] Western Suburbs South

3.05 Acres West Lakes 132,858 Negotiable Ferguson Commercial Real Estate Services 30,000 Ground Lease Aaron Hyde, (515) 309-0916 West Des Moines, IA 50266 132,858 [email protected]

65.28 Acres Mills Civic Pkwy and S Jordan Creek Pk Hurd Real Estate Services Maxcontiguous Space: 2,843,596 Richard Hurd, (515) 225-1102 Mindivisible Space: 2,843,597 West Des Moines, IA 50266 [email protected] Lease Rate: Negotiable

2,843,597 SF Available

2.44 Acres Jordan Creek Retail Land 106,286 Negotiable The Siedenburg Group-Des Moines 645 S 60th St 106,286 Ground Lease Douglas Siedenburg, (515) 223-6222 West Des Moines, IA 50266 106,286 [email protected]

SOURCE: Exchange Solutions by Xceligent | annual REAL ESTATE magazine 145 ADVERTISINGINDEX

98 Adam J. Kaduce, R&R Realty 21 Knapp Properties, Inc. 141 Alpha One 10-11 /LQFROQ6DYLQJV%DQN 113 %DLOH\5RRŵQJ 96 Linda Gibbs and Tim Sharpe, CBRE|Hubbell 6 Bankers Trust Company 120 LWBJ, LLP 101 Ben Garrett, Knapp Properties 95 Marc Lee & Jill Olofson, Iowa Realty 29 Brad Van Weelden Co. Inc. 91 Mick Grossman, Iowa Realty Commercial 101 Brian Erickson, Knapp Properties 28 NAI Optimum 102 Cannon Clark, Via Realtors 95 Nathan Drew, Iowa Realty Commercial 92 Chris Pendroy, Iowa Realty Commercial IBC 1HLJKERUKRRG'HYHORSPHQW&RUS 113 Christensen Development 141 Nelsen Appraisal Associates 100 Christopher Stafford, NAI Optimum 121 OnSite Solutions 16 City of Altoona 141 3UR/LQH%XLOGLQJ&RPSDQ\ 73 Collins Community Credit Union 22 R&R Realty Group 73 &RQŶXHQFH 38 RE/MAX Central 120 Commercial Real Estate Women of Iowa 88 Ryan Companies IFC Denny Elwell Companies 121 Seneca Companies 103 Dickinson Law 39 Shive-Hattery BC )HUJXVRQ&RPPHUFLDO5HDO(VWDWH 39 6LJQDWXUH&RPPHUFLDO5HDO(VWDWH 103 First National Bank of Iowa 88 Simonson & Associates 7, 49 Hubbell Realty 143 Snyder & Associates, Inc. IFC Hurd Real Estate 102 Strauss Security Solutions 143 Iowa Appraisal And Research Corporation 121 SVPA Architects 34 Iowa Realty Commercial 99 Tom Gayman, R&R Realty 17 Iowa Realty Corporate 93 Tom Hudson, Iowa Realty Commercial 143 JLL 97 7\OHU'LQJHODQG7HDP&%5(_+XEEHOO&RPPHUFLDO 100 -RKQ9LJJHUV1$,2SWLPXP 20 Weitz Co. 94 -RUGDQ%RXVORJ,RZD5HDOW\&RPPHUFLDO 141 :KLWŵHOG (GG\ 90 Kevin Crowley & Jason Lozano, Iowa Realty Commercial 63 ;FHOLJHQW

146 annual REAL ESTATE magazine NEIGHBORHOOD DEVELOPMENT CORPORATION REVITALIZING DES MOINES’ INNER CITY NEIGHBORHOODS

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NDCDSM.ORG (515) 244-8600 WE’VE GOT YOU COVERED EVERY STEP OF THE WAY. Loyalty. Integrity. Discipline. Focus. Industrial, retail, and everything in between.

HY-VEE OUTLOT – UNIVERSITY AVE & 71ST STREET 500 E LOCUST ST, DES MOINES WILLIAMS POINTE RETAIL DEVELOPMENT 3.05 acres available - Two full access points Office spaces available in historic building located 1300 East Hickman Road Retail pad/strip center in the East Village Waukee

CLOCKTOWER SQUARE CROSSING POINT PLAZA KEO RETAIL CENTER 2800-2900 University Ave - West Des Moines 1655 E San Marnan Drive - Waterloo 1221 Keosauqua Way - Des Moines Grocery anchored retail center 1,800-18,000 sq. ft. available 1,258-6,000 sq. ft. available

VALLEY SOUTH RETAIL DEVELOPMENT WEST GREEN INDUSTRIAL PARK CROSSROADS BUSINESS PARK BUILDING 11 I-235 & Valley West Drive - West Des Moines West Des Moines 12010 Ridgemont Drive - Urbandale 1,500-9,000 sq. ft. available 1,900-15,360 sq. ft. available in phase 1 13,710 sq. ft. available

Darin Ferguson Pat SchneiderMike Macri, III Aaron Hyde Craig Crossland Fred Adams CCIM, SIOR CCIM

Ben Brackett Mike Shindler Ben Digmann Cory Hamling Mitch Phillips

1840 NW 118th Street, Suite 100, Clive, Iowa | 515.440.0400 | fergusoncres.com