Hubbell Realty Co. has sold its speculative industrial project in Ankeny's Crosswinds Business Park to out-of-state investors. Screen grab courtesy Hubbell Realty Co.

A speculative industrial project that Hubbell Realty Co. began building a year ago in Ankeny’s Crosswinds Business Park has been sold to a group of investors, Polk County real estate transactions show.

The property at 7305 S.E. Crosswinds Drive in Ankeny was sold for nearly $19.3 million. The 23-acre parcel includes a 221,520-square-foot multi-tenant warehouse. A building permit valued at $12 million was issued for the project in June 2021, records show.

Construction of the warehouse was completed earlier this year. The warehouse includes a clear height of 32 feet, 30 dock-high doors, and a 136-foot truck court.

Investment groups that purchased the property include KBK Pomona Properties LLC, based in Santa Barbara, Calif.; Knight Street Associates LLC, based in Ashaway, R.I.; Swanson Developments LP, based in Murfreesboro, Tenn.; and Lucorp Oil & Gas LLC and Sealy SE Crosswinds Drive LLC, both based in Shreveport, La. Sealy SE Crosswinds Drive LLC is managed by Sealy Real Estate Services, a real estate brokerage and management firm founded in 1946. Swanson Developments is an 85-year-old real estate development and management company.

Hubbell Realty has had two projects in Crosswinds Business Park. The first was a speculative warehouse at 7310 S.E. Crosswinds Drive that in March 2021 was leased by Amazon Inc. and in July 2021 was sold to out-of-state investment groups. The project at 7305 S.E. Crosswinds Drive was Hubbell’s second development in the business park.

The transaction was recorded June 27.

To see a video of the completed project, click here.

Related article:Construction of spec industrial space continues its strong pace in Des Moines area

In other real estate transactions


CWP West Corp., which operates Mister Car Wash, paid Prairie Crossing Investment Inc. $1.29 million for property at 3700 Prairie Fire N.W. in Altoona, records show. The property includes 1.5 acres of undeveloped land. The transaction was recorded June 27.

All Star Daycare Inc., based in Des Moines, paid Court Avenue Child Care LLC $1.35 million for property at 1408 E. Court Ave. in Des Moines, records show. The property includes an 8,906-square-foot, two-story building occupied by a child care center. The property is valued at $1.1 million. The transaction was recorded June 28.

Nicholas and Megan Kluesner paid the J. William Revocable Trust and Mary E. Holtze Revocable Trust $1.1 million for property at 5300 Woodland Ave. in Des Moines, records show. The property includes a 4,367-square-foot single-family house built in 1931. The transaction was recorded June 28.

Stone Cross Properties LLC, located in West Des Moines, paid Gary Randa $1 million for property at 3410 S.E. 22nd St. in West Des Moines, records show. The 13.6-acre parcel includes a 27,450-square-foot, two-story building that includes commercial and residential spaces. The transaction was recorded June 30.

TB Building LLC, based in Des Moines, paid Lincoln Savings Bank $3.2 million for property at 1202 Thomas Beck Road in Des Moines, records show. The 9.6-acre parcel includes a 61,004-square-foot industrial building constructed in 1989. The property is valued at $2.9 million. The transaction was recorded June 30.

Endeavor Investments IX LLC, located in Minneapolis, paid Meadowland II LLC $1.39 million for property at 555 Ninth St. N.E. in Altoona, records show. The property includes nearly 35 acres of undeveloped ground. The transaction was recorded June 30.

David and Brenda Pomfret paid Holly Melahoures just over $1 million for property at 2013 Innsbruck Drive in Ankeny, records show. The property includes a 4,826-square-foot, two-story single-family house built in 2002. The transaction was recorded June 30.

RJW LLC, managed by Willis Automotive in Clive, paid Hummel Brothers Inc. $7 million for property at 4660 and 4770 Merle Hay Road in Urbandale and 4805 Merle Hay Road in Des Moines, records show. In April, the auto dealers announced that Willis Automotive was purchasing Hummel’s Nissan. The three properties include nearly 8 acres and three showrooms. The properties are valued at $5.88 million. The transaction was recorded June 30. In May, RJW LLC paid Hummel Real Estate LLC $3 million for undeveloped property at 2902 S.E. Convenience Road in Ankeny.

Bondurant Properties LLC, based in Ankeny, paid David and Kathleen McGrath $1.27 million for property at 1008 Second St. N.E. in Bondurant, records show. The property includes a 9,000-square-foot metal warehouse and two detached mini-warehouses. The property is valued at $458,000. The transaction was recorded June 30.

Kellogg Properties LLC, based in Arvada, Colo., paid $1.5 million for property at 5075 E. University Ave. in Pleasant Hill, records show. The property’s sellers include PCWDM II LLC, STP Investments LLC, G5 Ventures LLC, Leigh Holdings LLC, Lainson Properties LLC, Hedstrom Holdings LLC, K&A Investments LLC, MRP 1031 LLC and All Star Masonry LLC. The property includes an 18,900-square-foot office building constructed in 2000. The property is valued at $1.13 million. The transaction was recorded July 1.

Dallas County

Armadura Legal Inc., located in Las Vegas, paid Jason and Teri Kaiman $1.25 million for property at 3945 Indian Ridge Drive in Waukee, Dallas County real estate records show. The property includes a 2,853-square-foot single-family house built in 2015. The transaction was recorded June 28.

F18 Holdings LLC, located in Grimes, paid LeMar Koethe $2.6 million for 43 acres of farm ground east of Grimes, records show. The property is located north of 250th Street and east of 156th Street. The transaction was recorded June 29.

The Joseph and Lisette McCracken 2006 Trust paid Iowa One Construction LLC $1.17 million for property at 17709 Baxter Court in Clive, records show. The property includes a 2,487-square-foot single-family house built in 2022. The transaction was recorded June 29.

 

31495 Ashworth Road LLC, managed by Ankeny-based NJREC Inc., paid Hope K Farms LLC $900,000 for four residential properties in Waukee, records show. NJREC Inc. is owned by developer Nick Jensen. The purchased properties include 3207 Ashworth Road, 2980 S.E. LA Grant Parkway, 2950 S.E. LA Grant Parkway and 2920 S.E. LA Grant Parkway. Last week, the Waukee Planning and Zoning Commission approved a request to rezone the nearly 7.5 acres to allow for the construction of a townhome development. A concept plan shows that up to 91 townhouse units would be built on the site. The City Council was scheduled to vote on the rezoning request on Tuesday. The transaction was recorded June 29.