NOTEBOOK: Moving ahead in Des Moines Market District
KENT DARR Aug 16, 2016 | 3:42 pm
1 min read time
223 wordsBusiness Record Insider, The Insider NotebookJust a week after the Des Moines City Council approved submitting a Market District site for development of a $130 million federal courthouse, another piece of potential development ground is for sale in the area.
The asking price for a little more than 3 acres at 201 S.E. Sixth St. is $1.8 million. CBRE|HUbbell Commercial has the listing.
Broker Riley Hogan said the decision to sell was motivated more by a smaller commercial development that has been announced for the neighborhood — a 47,000-square-foot office building at 220 S.E. Sixth — than the proposed courthouse site that has been presented by the city in partnership with JSC Properties Inc. and MidAmerican Energy Co.
“We didn’t need the federal courthouse to shake interest in this project,” Hogan said.
Still, there is little question that the federal government’s announcement earlier this year that it would build a new courthouse in Des Moines has pushed development of the Market District area, located just south of the East Village, ahead by several years. Developers are looking for ground that might have seemed untouchable, and property owners are realizing that the time is right to sell. With just a few exceptions, the area is made up of industrial users. “There is a lot of good buzz and activity,” Hogan said.
Read more about the proposed courthouse site on BusinessRecord.com.
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