Top deal: $24.9 million | Altoona

Sealy & Co., a fully integrated commercial real estate investment and operating company based in Shreveport, La., acquired property in the Altus Commerce Center in Altoona, paying $24.9 million for a newly constructed warehouse and surrounding land. The nearly 15-acre parcel at 2600 20th Ave. N.W. includes a 265,726-square-foot Class A warehouse and distribution structure developed by VanTrust Real Estate, the property’s seller. The structure, which is occupied, is part of a three-building, 1.1 million-square-foot industrial park whose development began in 2021. The transaction was recorded Aug. 11, 2023. Photo by Dunae Tinkey

Other deals

$21.2 million  |  Ankeny

A New York property investment and management firm purchased a warehouse in Ankeny, paying $21 million for the property. Chapman Investors I LLC and Chapman Investors II LLC, both managed by Provident Management Corp., bought the property at 5950 Delaware Ave. from Ryan Cos. US Inc. Construction of the 200,220-square-foot, one-story warehouse was recently completed. The property is valued at $21.2 million. The transaction was recorded Aug. 17, 2023. 

$9 million  |  Grimes

Millpark Partners LLC, managed by Kansas City, Mo.-based Block Real Estate Services LLC, paid TPRF V Grimes LLC $9 million for 1300, 1350, 1500 S.E. Gateway Drive and 1300 S.E. Little Beaver Drive in Grimes. The properties all include warehouses. The transaction was recorded Sept. 1, 2023. 

$5.7 million  |  Des Moines

Amerco Real Estate Co., based in Phoenix, paid 2590 Investors LLC $5.7 million for property at 2590 Hubbell Ave. and 2131 E. 25th St., both in Des Moines. The property on Hubbell Avenue includes a 91,096-square-foot structure built in 1971. The one-story building originally was home to Richman-Gordman, a Midwest-based discount department store chain. When the retailer went out of business, the property was converted to a warehouse with individual storage units for rent. The property is valued at just over $5 million. The property on East 25th Street is vacant. The transaction was recorded March 15, 2023. 

$5.4 million  |  Polk County

A limited liability company located in La Vista, Neb., bought a newly constructed warehouse built at 1477 N.E. 67th Place, an unincorporated area between Des Moines and Ankeny. 10705 South 147th Street LLC, managed by the American Fence Co., paid DRA Properties LC $5.4 million for the property. The property includes a 60,000-square-foot metal warehouse whose construction was completed in 2022. The property is valued at $2.2 million. The transaction was recorded Nov. 9, 2023. 

$5.1 million  |  Ankeny

Ke Mezz LLC, located in Ankeny, paid Brandt Properties Co. $5.1 million for property at 2402 S.E. Hulsizer Road in Ankeny. The 4-acre parcel includes a 59,800-square-foot office/warehouse facility built in 1998. Cummins Central Power-Engine Co. occupies the building. The property is valued at $3.7 million. The transaction was recorded May 4, 2023.

$4.7 million  |  Polk County

SAIA Motor Freight Line LLC, located in Johns Creek, Ga., paid Trip Portfolio LLC $4.7 million for property at 5299 N.E. 22nd St. The 10.3-acre parcel includes a 17,800-square-foot transit warehouse built in 1973. The property is valued at $2.1 million. The transaction was recorded Dec. 5, 2023. 

$4.5 million  |  Altoona

503 First Ave N LLC, based in Elk Grove Village, Ill., paid MTS Properties LLC $4.5 million for property at 503 First Ave. North in Altoona. The 5.4-acre parcel includes a 6,500-square-foot warehouse. The property is valued at $3.2 million. The transaction was recorded Aug. 8, 2023. 

$4.1 million  |  Johnston

6450 LLC, located in Des Moines, paid 6060 Beaver LLC $4.1 million for property at 4679 Waters Edge Drive in Johnston. The 2.9-acre parcel includes mini-storage warehouses. The property is valued at $1.8 million. The transaction was recorded July 10, 2023. 

$4 million  |  Elkhart

1311 Industrial LLC, located in West Des Moines, paid Elkhart Properties LLC $4 million for property at 1311 N.W. Laurel St. in Elkhart. The property includes 24 warehouse condominiums located in a 1,800-square-foot metal structure built in 2022. The transaction was recorded May 23, 2023.

Source: Polk and Dallas county assessors