PROJECT UPDATE: Kreg Tool World Headquarters
BPC Staff Jun 10, 2020 | 5:46 pm
1 min read time
221 wordsAll Latest News, Real Estate and Development
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Construction is progressing on Kreg Enterprises Inc.’s new headquarters in Ankeny’s Crosswinds Business Park. Photo by Kathy A. Bolten
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WHAT: New headquarters for Kreg Enterprises Inc., also known as Kreg Tool
WHERE: On 25 acres at 7500 S.E. Convenience Blvd., Ankeny
OWNER: Kreg Enterprises
CONTRACTOR: Graham Construction Co.
ARCHITECT: Neumann Monson Architects and Rains Architecture
PROJECT VALUE: $21.6 million
BACKGROUND and UPDATE: Construction is underway on the new headquarters for Kreg Enterprises Inc., which currently is located in Huxley.
The company in April took out a building permit valued at $21.6 million.
Kreg makes woodworking tools, such as jigs, clamps, and cutting and routing tools.
About 230 people are expected to be employed at the new facility, which will be 150,000 square feet. About 50,000 square feet of the building will be office space.
Over a year ago, the Ankeny City Council approved a development agreement with Kreg that included a five-year, 100% tax increment financing package valued at $1.2 million.
Construction of the new facility is expected to be completed by fall 2021.
– By Kathy A. Bolten
PREVIOUS COVERAGE: Kreg receives extension to start construction of new facility in Ankeny
A Commercial Real Estate Weekly feature in which we update the status of projects underway in the Greater Des Moines area. Want to include an update about your project or suggest a project to include? Email: kathybolten@bpcdm.com.
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