Community State Bank, which plans on building a new headquarters in Ankeny, has acquired 5.5 acres along Northeast 38th Street, Polk County real estate records show.

The bank paid Threshold Development LLC $4.25 million for the property at 2615 N.E. 38th St., according to records. The property, which had been farmland, is east of Interstate Highway 35, near Costco.

“There weren’t as many spots that had high traffic and great growth potential, and this is the ideal spot for that,” Kurt Gibson, Community State Bank’s CEO, recently told the Business Record. “There’s a lot of other development planned in that area, so I think it’s going to be a great area.”

Construction is expected to begin later this summer on a four-story, 71,000-square-foot building. The building will include a bank branch but not consolidate any of Community State Bank’s existing nine branches.

The bank originated as the Bank of Ankeny in 1902, according to information on Community State Bank’s web page. The bank currently has two branches in Ankeny, three in Des Moines, and a branch each in Altoona, Pleasant Hill, Johnston and Waukee.

The transaction with Threshold Development was recorded July 1.

In other transactions:

Barry Russell and Lu Ann White paid Windsor Builders LLC $1.2 million for property at 9100 Summit Lane in Johnston, records show. The property includes a 4,293-square-foot recently built detached townhouse. The transaction was recorded July 1.

Iowa Cash & Carry LLC paid Ryan and Sonya Winter $1.1 million for property at 2220 E. Ovid Ave. in Des Moines, records show. The property includes a 21,360-square-foot warehouse built in 1979. The building includes a metal exterior. An indoor skate rink was located in the building in the early 1980s. The property, which includes 2.7 acres, is valued at $481,000. The transaction was recorded July 1.

Animal Rescue League of Iowa Inc. paid the Lawrence Dale Bain Revocable Trust $2 million for property at 3296 N.E. 54th Ave. in north central Polk County, records show. The 21-acre site includes a 2,076-square-foot single-family house built in 1976, stables and utility buildings. The property is valued at $544,990. The transaction was recorded July 2.

Fulton AnkenyIa LLC, located in New York, paid L3B Property LLC $3.4 million for property at 808 and 812 S.W. Cherry St. in Ankeny, records show. The properties, each about 1.5 acres, include flex warehouse space. The property at 808 S.W. Cherry St. and valued at just over $2 million, includes a 21,120-square-foot warehouse built in 2016. The property at 812 S.W. Cherry St. and valued at $1.25 million, includes an 11,200-square-foot warehouse built in 2016. The transaction was recorded July 2.

Lucas and Megan Hinke paid Berkey Homebuilders Inc. just over $1 million for property at 1812 Summit Circle N.E. in Bondurant, records show. The nearly 1/2-acre lot includes a 3,617-square-foot house whose construction was recently completed. The transaction was recorded July 2.

MidAmerican Energy Co., located in Des Moines, paid the Virgil Webb, William Garber and Flora Webb Garber foundations $1.3 million for 20 acres of farm ground west of Northeast 88th Street and about 1/2 mile south of North 78th Avenue near Bondurant, records show. The transaction was recorded July 3.

Edward Rose Millennial Development LLC, located in Bloomfield Hills, Mich., paid Temple Holdings LLC just over $3 million for 34 acres of farmland north of Northeast University and east of Northeast 70th Street in Pleasant Hill, records show. The transaction was recorded July 3.
13 Pine LLC, located in Pella, paid McQuaid Revocable Trust just over $3 million for property at 1602, 1612, 1620 and 1732 N.W. Pine Road in Ankeny, records show. The properties include two-story, four-unit apartment buildings. The transaction was recorded July 3.

Iowa Equity Exchange Prkg 2969 LLC paid DCJ Altoona Farm LLC $1.5 million for 38 acres of farmland located north of Iowa Highway 163 and west of Northeast 80th Street, records show. The transaction was recorded July 3.

Sanjay and Arunima Gill paid Michael and Sandra Wegner $1.4 million for property at 10508 Hidden Valley Drive in Johnston, records show. The property includes a 4,080-square-foot, two-story house built in 2019. The transaction was recorded July 3.

Nicholas and Susan Honkamp paid Jennifer Smith and Lindsey Smith just over $1 million for property at 4916 Harwood Drive in Des Moines, records show. The property includes a two-story house built in 1935. The transaction was recorded July 5.