Top deal: $16.9 million | Altoona

Hawkeye Investment Partners I LLC, based in Wheaton, Ill., paid I- 80 Business Park LLC nearly $17 million for property at 2131 and 2177 21st St. N.W. and 2220 and 2450 20th Ave. N.W., all in Altoona. The transaction included the sale of nearly 60 acres as well as a 314,138-square-foot warehouse distribution center. Hawkeye Investment Partners is managed by T2 Capital Management, a private equity real estate firm. The transaction was recorded June 7, 2023. Photo by Duane Tinkey

Other deals

$15.3 million  |  West Des Moines

Microsoft Inc. acquired 111 acres of farm ground in a portion of West Des Moines that is in Madison County. The Washington-based technology giant paid Flinn Farms LLC $10.46 million for just over 77 acres; it paid Marco Properties LLC $4.89 million for nearly 34 acres. The tech company plans on building a data center on the land that is south of Veterans Parkway between Woodland Avenue and Southwest 60th Street. The new data center would be west of Microsoft’s Osmium data center. The transaction was recorded in December 2023.

$12.8 million  |  Waukee 

Kettlestone Lakes LLC, managed by Clive-based Landmark Cos. Inc., paid Oakleaf Properties LC $12.8 million for 129 acres of farmland in Waukee. The property is south of Ashworth Road about one-fourth of a mile west of Grand Prairie Parkway. The transaction was recorded June 30, 2023.

$10.4 million  |  Altoona

I- 80 Business Park II LLC, located in Des Moines, paid Lemar Koethe $10.4 million for 80 acres of farm ground located east of Northeast 56th Street and about one-fourth of a mile south of Northeast 70th Avenue. The transaction was recorded March 6, 2023.

$8.3 million  |  Waukee 

Bricktowne Piper LC, located in Ames, acquired property from the Richard Giles Revocable Trust and Dallas Hakeman Family Trust. The parcels, which total about 40 acres, are located northeast of the Southeast Pleasant View Drive and Grand Prairie Parkway intersection in Waukee. The Giles trust was paid $5 million for its share of the property; the Hakeman trust, $3.35 million. The transactions were recorded Oct. 10, 2023.

$6.5 million  |  Altoona

The Graham Group Inc., located in Des Moines, paid the RDB Trust $6.5 million for property at 6640 and 6680 N.E. 56th St. in Altoona. The property, which includes mostly farmland, is in an area that has experienced a large amount of industrial development in the past five years. The transaction was recorded Oct. 18, 2023.

$6.3 million  |  Des Moines 

Union at Rivers Edge LP, managed by Indianapolis, Ind.-based Annex Group, paid 214 Jackson LLC $6.3 million for nearly 4 acres at 1600 Indianola Ave. in Des Moines. Construction of a 216-unit apartment project is expected to begin this spring and be completed by mid-2025. The project will include one-, two- and three-bedroom apartments. The transaction was recorded Aug. 4, 2023.

$5.6 million  |  Carlisle

A group of 18 investors paid Wilbur E. Goodhue Inc. $5.6 million for farm ground at 6600 S.E. 52nd St. in Carlisle. The 75-acre tract is east of the Iowa Highway 5/U.S. Highway 65 bypass off-ramp at Southeast Army Post Road. Among the groups that acquired the property are ATI Group Inc., located in Ankeny; TJL Investments LLC, located in Clive; and the Eric & Carol Ziel Joint Revocable Trust. The transaction was recorded Jan. 4, 2023. 

$4.1 million  |  Ankeny

SPAL-USA Inc. paid Legacy Housby LLC $4.1 million for about 25 acres of farmland in the Crosswinds Business Park in Ankeny. The land is between Southeast Convenience Boulevard and Southeast Crosswinds Drive. SPAL-USA, a subsidiary of SPAL Automotive that is headquartered in Italy, is expanding its presence in Ankeny with the construction of a $35 million state-of-the-art manufacturing, distribution and office facility. The transaction was recorded June 30, 2023.

$4.1 million  |  Urbandale

Urban Loop Building I LLC, located in Kansas City, Mo., paid Lioness III LLC $4.1 million for 26 acres of farmland at 12501 Plum Drive in Urbandale. The transaction was recorded Aug. 4, 2023. 

Source: Polk, Dallas and Madison county assessors