NOTABLE TRANSACTIONS: Mall group buys former Merle Hay Sears property

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The owners of Merle Hay Mall have purchased the site on which the former Sears department store (pictured) was located,  Polk County real estate records show. Merle Hay Anchors LLC paid TF Des Moines Ia LLC $2.8 for the property at 4000 Merle Hay Road. Elizabeth Holland, CEO of Merle Hay Investors, which owns the mall, manages Merle Hay Anchors. The Merle Hay Sears store closed in October 2018, the day before its parent company announced its bankruptcy. The building has been unused ever since. Holland has said the building will be razed and a strip center built on the land. The transaction was recorded Nov. 25.

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In other real estate transactions:

 

Sanav Altoona Properties LLC paid Altoona Lion Development Group LLC $2.47 million for property at 709 34th Ave. S.W. in Altoona, records show. The property includes an 11,070-square-foot strip retail center constructed in 2019. The property is valued at $1 million. The transaction was recorded on Nov. 25.

110-112 10th Street LLC, based in Denver, Colo., paid 10th Street Lofts LLLP $10.5 million for property at 110 and 112 10th St. in Des Moines, records show. The property includes two multistory brick buildings that several years ago were converted to condominiums. The buildings, constructed in 1918, were valued at $6.2 million in 2019, records show. The transaction was recorded on Nov. 24.

Daralee LLC, based in Grinnell, paid Trave Group LLC $1 million for property at 5901 Ashworth Road in West Des Moines, records show. The property includes a 6,000-square-foot strip shopping center constructed in 1994. The property was valued at $706,000 in 2019. The transaction was recorded on Nov. 23.

A Denver, Colo.-based group paid 10th Street Parking LLC $1.1 million for a surface parking lot at 12 10th St. in downtown Des Moines, records show. The group, ColaMan RE Holdings LLC, is managed by Arend Accola, records show. The 1.4-acre parcel was valued at $451,000 in 2019. The transaction was recorded on Nov. 23.

Tanam LLC of Des Moines paid Peak Development Corp. $675,000 for property at 1407 N.W. Laurel St. in Elkhart, records show. The undeveloped 6 acres was valued at $11,200 in 2019. The transaction was recorded on Nov. 23.

JAW Properties LLC paid Ailien Nguyen $1.2 million for property at 1511 High St. in Des Moines, records show. The property includes a one-story building constructed in 2005. A-Dong Restaurant is located in the building. The property was valued at $615,000 in 2019, records show. The transaction was recorded on Nov. 20.

Grimes-based 3DI Inc. paid Capo Holdings LLC $5.6 million for property at 165 S.W. Magazine Road in Ankeny, records show. The 2.2-acre parcel includes a Kum & Go convenience store constructed in 2011. In 2019, the property was valued at $2 million. The transaction was recorded on Nov. 20.

TMG Jackson LLC paid Centennial Place Coop Housing Association $5.3 million for property at 720-726 Eighth St. S.E. and 901 Seventh St. S.E. in Altoona, records show. The property includes 4.8 acres and four apartment buildings with a total of 96 units. The buildings were constructed in 1994. The property was valued at $4.4 million in 2019. The transaction was recorded on Nov. 30.

Kwality Custom Homes, based in Urbandale, paid RJB LLC $1.6 million for 28.4 acres along Waterford Road and Northwest 142nd Street in Urbandale, Dallas County real estate records show. The farm ground is valued at $41,620. The transaction was recorded Nov. 24.