Retail 2022 Top Deals

$43.5 million
Waukee

KB Waukee DST, an entity managed by Kingsbarn Realty Capital headquartered in Las Vegas, paid Terveen Manufactured Homes LLC $43.5 million for the 19.8-acre parcel at 1300 S.E. Kettlestone Blvd. The property includes Fleet Farm retail and convenience stores and fuel pumps. The property’s 2022 assessed value was $30.5 million. The transaction was recorded March 2, 2022.

$19.6 million  |  Altoona

Hurd Altoona LLC, managed by Richard Hurd, paid Hy-Vee Inc. $19.6 million for property at 102 and 108 Eighth St. S.W. The property at 102 Eighth St. S.W. includes a 2,442-square-foot Hy-Vee Fast and Fresh convenience store and fuel pumps. The property’s 2022 assessed value was nearly $1.2 million. The property at 108 Eighth St. S.W. includes a 50,198-square-foot structure that houses the grocery store. A Hy-Vee Aisles Online is also on the site. The property in 2022 was valued at $5 million. The transaction was recorded June 21. 

$16.2 million  |  Urbandale

A group of investors bought a neighborhood shopping center at 3701 86th St., paying $16.2 million for the property. The center, developed on 13 acres, includes a one-story, 124,759-square-foot retail building and a one-story, 75,818-square-foot building. The property was purchased by several entities including TL Urban Town Center LLC, managed by Brad Lowe of Spire Property Management in Des Moines; MRP1031 LLC and GRP1031 LLC, both managed by Marcus Pitts, a local commercial real estate broker; and KAJ2 LLC, managed by Jack Pennington, a local attorney. The seller of the property was Urban Town Center LLC.The property in 2022 was valued at $10.8 million. The transaction was recorded June 13.

$13.1 million  |  Des Moines

Jensen Oswald LLC, located in Granger, paid 207 Crocker LLC $13.1 million for property at 207 Crocker St. The property includes a 91-room hotel occupied by Fairfield Inn & Suites. The building was converted from office space to a hotel in 2019.The property in 2022 was valued at $5.6 million. The transaction was recorded May 12.

$9.5 million  |  Des Moines

Clamshell Properties LLC, located in Mount Juliet, Tenn., paid FRG Des Moines LLC $9.5 million for property at 3104 University Ave. and 1134 31st St. The property includes a Kum & Go convenience store and fuel pumps. The property in 2021 was valued at $1.6 million. The transaction was recorded Aug. 18.

$8.8 million  |  Des Moines

Rhino Holdings Haymarket LLC, based in Henderson, Nev., paid Brixmor Holdings 10 SPE LLC $8.8 million for property at 4094 Merle Hay Road. The property includes the Haymarket Shopping Center. The 89,764-square-foot center was built in 1973. In 2022, the property was valued at $7.8 million. The transaction was recorded April 12, 2022.

$7.9 million  |  West Des Moines

Silver D Meadow CT LLC, located in West Des Moines, paid Wellington Plaza LLC $7.9 million for properties at 225 and 245 50th St. The properties include a neighborhood shopping center built in 1999. The properties in 2022 were valued at $5.4 million. The transaction was recorded June 16.

$6.6 million  |  Pleasant Hill

Richmond, Va.-based Bowlero Corp. paid Dalrich LLC $6.6 million for the property at 655 N.E. 56th St. The 3.2-acre parcel includes a 38,172-square-foot building occupied by Great Escape, a 24-lane bowling center. The property in 2022 was valued at $3.2 million. The transaction was recorded Dec. 8. 

$6.5 million  |  Urbandale

Merle Hay Anchors LLC paid Kohl’s Inc. $6.5 million for property on the Merle Hay Mall site, located on the northwest corner of Merle Hay Road and Douglas Avenue. Kohl’s moved to a newly constructed building on the mall property last fall. The former Kohl’s site includes a 75,000-square-foot structure built in the mid-1980s.The property in 2021 was valued at $2.7 million. The transaction was recorded Dec. 6. 

$6.1 million  |  Des Moines

Foxhill Des Moines LLC, located in Port Hueneme, Calif., paid QuikTrip Corp. $6.1 million for property at 2428 and 2426 Hubbell Ave. and 2401 Easton Blvd. The property includes a convenience store and fuel pumps. The transaction was recorded May 26.

Source: Polk and Dallas county assessors’ offices