Insurance could be in the future, again, for Two Ruan
KENT DARR Jan 15, 2014 | 6:54 pm
2 min read time
364 wordsAll Latest News, Insurance, Real Estate and Development
That might seem a burden to some, but to Ron Romig of the Ruan Center Corp. and brokers at NAI Optimum, the tables and chairs, at least, are a plus that they use in marketing all of that space. So far, some of it is being occupied by workers tied to the insurance industry.
“We’re trying to market it as the insurance building for downtown,” said Kurt Mumm, president of NAI Optimum.
The Iowa Division of Insurance leased two floors in February 2013. At the start of this year, Fidelity & Guaranty Life moved its corporate headquarters from Maryland to the 14th floor of Two Ruan, 601 Locust St.
For Mumm and broker Tom Knapp, those moves could be the beginning of something big for Two Ruan.
“It is some gorgeous turnkey space,” Mumm said.
Romig said he likes the idea of marketing to insurance companies. In fact, he likes the idea of marketing to any business that can fill the empty floors at Two Ruan.
“The Ruans are very motivated to put some deals together,” Mumm said.
Each floor has about 17,000 square feet, and, as mentioned, each floor is fully furnished. When Wellmark Inc. moved out in 2012, the Ruan Center bought the furniture rather than run the risk of having the building scratched and dinged during the move. Ten floors are open, and the building also has a cafeteria, auditorium and fitness center.
Romig said the gross lease rate is $15.75 a square foot.
A few years ago, there was speculation that the state of Iowa would become a major tenant.
“There is still some conversation going on with the state, but you can’t wait forever,” Romig said.
For now, he is looking forward to deals put together by Mumm and Knapp.
“Having it focus on insurance type operations is fine,” Romig said. “We can market it however those guys think is best.”