California investor buys properties in East Village, West Des Moines

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An investment group led by California attorney Kaar Field has purchased Jake Christensen’s recently completed office building at 505 E. Grand Ave. in Des Moines’ East Village. MDM Equity-2012 LLC paid nearly $5.2 million on July 30 to 505 E. Grand LLC, according to Polk County property records. The 18,480-square-foot office and retail building was completed earlier this year. Tenants are Raygun, Fredrikson & Byron P.A. and Domestica. In addition to the Des Moines purchase, a Field entity named MDM Equity-2015 LLC paid $7.8 million on July 29 for the mixed-use Somerfield Village Center at 4800 Mills Civic Parkway in West Des Moines. Field has led many investor groups to Greater Des Moines. Among the holdings is Kum & Go LC’s current headquarters at 6400 Westown Parkway in West Des Moines.