NOTABLE TRANSACTIONS: Local partnership group buys 2 downtown office buildings - Business Record

2022-07-23 14:17:14 By : Ms. Eva Su

Two downtown Des Moines buildings  –  one at 301 Grand Ave. (photo on left) and one at 516 Third St.  –  have been sold for a total of $9 million.  Photos courtesy Polk County assessor

A local partnership group that includes developer Jake Christensen has purchased two downtown Des Moines office buildings, both of which are over 100 years old, Polk County transaction records show. A three-story brick building constructed in 1916 and located at 301 Grand Ave. was purchased by  Tucker Building LLC  for $7.1 million, records show. The property had been owned by 301 Grand LC. RDG Planning & Design is one of the building’s occupants. The property is valued at $2.63 million. A two-story building at 516 Third St. was purchased by  516 3rd LLC  for $1.9 million. The 9,560-square-foot building was constructed in 1900 and remodeled in the early 1990s. The property, purchased from Encore Properties LC, is valued at $372,100. No changes are planned for either building, according to Christensen. The transactions were both recorded on April 13. In other Polk County real estate transactions: A Nevada-ba s ed group has purchased a neighborhood shopping center in northwest Des Moines, Polk County real estate records show.  Rhino Holdings Haymarket LLC,  located in Henderson, Nev., paid Brixmor Holdings 10SPE LLC $8.8 millon for the 15-acre parcel at 4094 Merle Hay Road, records show. The property includes 89,764 square feet of retail space that was constructed in 1973. The center, known as Haymarket Mall, includes Hobby Lobby, Burlington department store, Harbor Freight Tools and Speck USA, a paving and parking lot maintenance company. The property is valued at $3.27 million. The transaction was recorded April 12.

VGM Group Inc.,  located in Waterloo, paid Woodward Communications Inc. $5.4 million for property at 106. E. Sixth St. in Des Moines, records show. The transaction was recorded April 11. Wilmot Investments LLC,  located in San Antonio, Texas, paid Eigh14t RCCC 202 IA Ankeny North LLC $4.79 million for property at 3055 N. Ankeny Blvd. in Ankeny, records show. The property includes a 12,373-square-foot building with a brick veneer. The building was constructed in 2018. A KinderCare Learning Center is located in the building. The property is valued at just over $2 million. The transaction was recorded April 12.

13101 University Ave LLC,  located in Dubuque, paid Next Phase Development LLC $3.8 million for property at 13101 University Ave. in Clive,   records show. The property includes a 9,870-square-foot commercial building. The transaction was recorded April 12. 1710 Guthrie Avenue LLC,  located in Waukee, paid Grand Ventures LLC $3 million for property at 1710 Guthrie Ave. in Des Moines, records show. The property includes 77,270 square feet of warehouse and office space. The one-story metal building was constructed in 1980. The property is valued at $2.75 million. The transaction was recorded April 13. HW&S LLC,  located in Urbandale, paid Ridgway Holdings LLC $1.1 million for property at 10202 Douglas Ave. in Urbandale, records show. The property includes a 9,961-square-foot metal office/warehouse building constructed in1986. The property is valued at $606,000. The transaction was recorded April 14. MRP1031 LLC and TL 6263 NE Industry Dr LLC,  both located in West Des Moines, paid DRA Properties LC $1.89 million for property at 6263 N.E. Industry Drive in Des Moines, records show. The property includes a 20,400-square-foot metal warehouse constructed in 2014. The property is valued at $1.57 million. The transaction was recorded April 15. IA KY LLC,  located in Mitchellville, paid Reed Betts Revocable Trust and Clark Betts Sr. Trust $2.4 million for property at  7315 N.E. 112th St. in Mitchellville , records show. The property includes 72 acres of crop land and nearly 3 acres on which buildings are located. Among the buildings are a single-family house constructed in 1900, pole barn, shed and garage. The transaction was recorded April 15. Dallas County Silo 9 Plat 1 LLC,  located in West Des Moines, paid Scott Neff Living Trust $3.22 million for property at  9510 Mills Civic Parkway  in West Des Moines, Dallas County real estate records show. The property includes nearly 50 acres on which a 1 1/2-story single-family house is located. The house was built in 1918. The transaction was recorded April 11. NC Investments LLC,  located in Dakota Dunes, S.D., paid Covenant Group LLC $1.85 million for property at 2635 Berkshire Parkway in Clive, records show. The property includes a 7,638-square-foot office building constructed in 2016. The property is valued at $1.4 million. The transaction was recorded April 11.

Editor's note: This article was updated on April 26, 2022 to include the correct number of buildings sold in the transaction involving 13101 University Ave LLC.

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