State of Iowa completes purchase of office property in Des Moines
Kathy A. Bolten Oct 4, 2023 | 9:15 am
2 min read time
534 wordsAll Latest News, Real Estate and DevelopmentThe state of Iowa has completed its purchase of office property at 6200 Park Ave. in Des Moines, Polk County real estate records show.
The state paid William C. Knapp LC $18 million for the 15.2-acre property that includes a 138,978-square-foot, two-story office building. Construction of the building was completed in 2002, records show.
In August, the Executive Council of Iowa approved buying the property. State officials have said agencies currently located in the Henry A. Wallace Building at 812 E. Grand Ave. would be relocated to the Park Avenue property. Those agencies include the Iowa Department of Agriculture and Iowa Department of Natural Resources.
The future of the Wallace Building, which has had several structural and maintenance issues since its construction in the late 1970s, is uncertain.
The Park Avenue building includes warehouse space, a fitness center with showers and lockers, and a grab-and-go market with lounge, according to a brochure about the property. The building most recently was occupied by Wells Fargo.
The Park Avenue property, because it is now state owned, is tax-exempt and won’t generate any property tax revenue. In the 2021 tax year, the property generated $483,304 in property taxes for the city of Des Moines, Polk County, Des Moines school district and other taxing entities.
The property is valued at $9.3 million.
The real estate transaction was recorded Sept. 29.
In other transactions:
IA10 Windsor Heights LLC, based in Sioux Falls, S.D., paid Knapp Windsor LLC and Hurd Windsor LLC $807,602 for property at 6322 Hickman Road in Windsor Heights, records show. The 2-acre parcel is vacant. The property is valued at $760,000. The transaction was recorded Sept. 26.
Scott and Leann Goldsmith paid Dynasty Partners Homes LLC $1.6 million for property at 8047 N.W. 106th Court in Johnston, records show. Construction of the 2,521-square-foot house was recently completed. The transaction was recorded Sept. 26.
Aggregate 4 LLC, based in Overland Park, Kan., paid DIV Clipper LLC $1.8 million for property at 1817 Euclid Ave. in Des Moines, records show. The nearly 5-acre parcel includes a 19,125-square-foot warehouse built in 1974. The property, located just east of the Des Moines River, also includes two other smaller warehouses and several small garages and sheds. The property is valued at $895,000. The transaction was recorded Sept. 27.
James and Jenna Stork paid Dera Satkartar Inc. $1.27 million for property at 7365 N.W. 107th St. in Johnston, records show. The 7-acre parcel includes a 4,822-square-foot house built in 1994 and two utility buildings. The transaction was recorded Sept. 29.
Dallas County
Kwik Trip Inc., based in LaCrosse, Wis., paid the Carole Crate Estate $2 million for property at 15980 Hickman Road in Clive, Dallas County real estate records show. The 4.89-acre parcel includes a 1,434-square-foot house built in 1890. The parcel also includes a barn, poultry house and sheds, records show. The property is valued at $437,680. Clive’s Planning and Zoning Commission and City Council have approved a preliminary plat and site plan for a Kwik Star convenience store planned on the site. Construction is expected to begin in early 2024; a new convenience store is expected to open in fall 2024, Clive city records show. The transaction was recorded Sept. 26.
Kathy A. Bolten
Kathy A. Bolten is a senior staff writer at Business Record. She covers real estate and development, workforce development, education, banking and finance, and housing.