Top deal: $21.4 million | Van Meter

Microsoft Corp., headquartered in Redmond, Wash., paid Ronald and Debra Gebhardt over $21.4 million for 264 acres of farmland in Van Meter. The real estate transaction was one of three that the technology giant made in January 2024 for land on which to build a data center, which will be located south of 360th Street and east of Richland Road. Photo by Duane Tinkey

Other deals

$13.4 million | Van Meter

COPT Defense Properties, a publicly traded real estate investment trust based in Columbia, Md., doing business as IA 340 Trail LLC, paid $13.4 million for 200 acres of farmland east of Van Meter. COPT Defense Properties acquired the property from Lance and Sherry Lauterbach in a transaction that was recorded Oct. 1. The Maryland company develops data centers.

$10.9 million | Van Meter

Microsoft Corp. acquired 115 acres of Dallas County farmland in January 2024 for $10.9 million. The land, located south of 365th Street and west of Seneca Avenue, was acquired from Land Concepts LLC, Willowsprings LLC and the M.Wayne Gutshall Family Trust. Microsoft plans on developing a data center on the land. 

$7.5 million | Van Meter

Microsoft Corp. paid JD Ventures II LLC $7.5 million for 74 acres of farmland located between 360th and 365th streets, east of Van Meter. Microsoft plans on developing a data center on the land. The transaction was recorded Jan. 18, 2024. 

$5.2 million | Altoona

Cologix DSM3 LLC, located in Denver, Colo., paid seven individuals and entities $5.2 million for farmland east of Northeast 56th Street and about one-quarter mile north of 25th Street Northwest in Altoona. Sellers of the 78.5-acre parcel include the William Sprague Revocable Trust, the Dorothy McCleary Property Management Trust, the Vignaroli Family Living Trust, Judy Sprague, Lou Ann Sprague-Anderson, Justine Jurgensen and Danika Findley Streeter. The parcel is north of a warehouse development and northeast of Facebook’s Altoona data farm campus. The transaction was recorded Sept. 13.

$5.1 million | Polk County

OMG Midwest Inc., based in Ankeny, paid the Joe and Helen Goode Trust Number Three $5.1 million for farm property in northwest Polk County. The property is located on the southeast corner of Northwest 26th Street and Northwest 66th Avenue in northwest Polk County. The transaction was recorded Aug. 16.

$4.2 million | Ankeny

Community State Bank paid Threshold Development LLC $4.2 million for the property at 2615 N.E. 38th St. in Ankeny. The property, which had been farmland, is east of Interstate Highway 35, near Costco. A bank branch is being built on the site. The transaction was recorded July 1. 

$3.8 million | Altoona

Sunstone Investments LLC, located in Des Moines, paid Anderson Land LC $3.8 million for 23 acres of undeveloped land at 4832 N.E. 56th St. and 154 34th Ave. S.W., both in Altoona. The transaction was recorded Dec. 17.

$3.8 million | Waukee

The Waukee school district paid Marco Properties LLC $3.8 million for 17.5 acres of undeveloped land south of Southeast University Avenue and about one-fourth of a mile west of Grand Prairie Parkway in Waukee. The district plans on expanding its administrative offices. The transaction was recorded July 25.

$3.6 million | Waukee

Edward Rose Millennial Development LLC paid the William Chase Trust $3.6 million for 32 acres of farmland in the 9100 block of Ashworth Road in Waukee. The transaction was recorded Nov. 7. 

Source: Polk and Dallas county assessor’s offices