Kum & Go continues purchases downtown
Thursday, July 10, 2014 8:56 AM
Entities related to Kum & Go LC have made several purchases recently in the Western Gateway, where the company plans to build its corporate headquarters.
Limited liability companies paid nearly $7 million for properties that include Jefferson Apartments at 1519 Grand Ave. and Scotty's Body Shop at 1432 Linden St., according to Polk County property records.
In April, Kum & Go's Linden Street Investments LLC paid $1.7 million for the Subway restaurant at 1423 Grand Ave.
In late June, the Iowa Economic Development Authority board approved $9.1 million in tax benefits for Kum & Go's anticipated $92 million relocation to downtown Des Moines.
Kum & Go said in an email that "normal operations will continue" at Jefferson Apartments and Scotty's Body Shop.
"These additional land purchases are in line with Kum & Go's growth and expansion plan as the company works to determine its downtown footprint," according to the email.
Here are the properties purchased on Grand and Linden:
- Linden Street Investments LLC paid $2.3 million to
Buchanan Family Properties LLC on June 26 for five lots at 1425 and 1441 Grand
Ave. in Des Moines. Linden
Street Investments also paid $2 million on June 26 to Scott and
Colleen Buchanan for 1432 Linden St.
Other limited liability companies connected to the company and CEO Kyle Krause also have purchased several properties along Locust Street.
- 15th & Grand Properties LLC paid $2.6 million on July 1 for Jefferson Apartments at 1519
Grand Ave. and an adjoining five-unit apartment building at 1511 Grand Ave.
The Des Moines City Council approved a $974,000 development plan last month for properties held by Locust Street Investments LLC at 1420, 1424, and 1430 Locust. The project includes the restoration of two historic buildings that were once automobile showrooms and the conversion to office, restaurant and other retails uses.
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