DES MOINES, IA—Industrial development took off several years ago in many markets across the US, and has now started to spread to secondary ones that have seen little construction since the onset of the recession. The Opus Group, for example, has just unveiled plans for a 208,252-square-foot speculative industrial office and warehouse facility in Ankeny, a suburb of Des Moines, IA. And this building represents just the first stage of its master plan for Corporate Woods Industrial Center, a 50-acre site that can accommodate up to three buildings totaling 600,000 square feet.
“There is a lot of pent-up demand so it makes sense for us to launch this project now,” Jason Conway, director, real estate development, Opus Development Co., LLC, tells GlobeSt.com, and with a vacancy rate of just two or three percent, users currently have very few options. “As an organization we're very bullish on industrial right now especially in markets like Des Moines.”
This building will be somewhat unique for the region, he adds, as it will offer users a 32' clear height. “Up until now, most of the other developers have been doing projects with 24' clear heights.” And recently, much of that space has gone to sports-related retail users instead of more traditional bulk distribution companies.
“We're looking for a traditional user that will stack products,” Conway says. The area has many companies involved in agriculture, such as seed distributors, and many others that distribute farm machinery. Located on 19 acres just one exit north of the I-35 and I-80 intersection, “it's a great regional hub for distribution.”
Opus Development and Founders Properties, LLC will own the building in a joint venture partnership. Opus Development will be the developer, Opus Design Build, LLC will be the design-builder and Opus AE Group, LLC will be the architect and engineer of record. Marcus Pitts and Justin Lossner with JLL will market the property for lease.
Opus will begin construction in May with completion scheduled for fall.
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Brian J. Rogal
Brian J. Rogal is a Chicago-based freelance writer with years of experience as an investigative reporter and editor, most notably at The Chicago Reporter, where he concentrated on housing issues. He also has written extensively on alternative energy and the payments card industry for national trade publications.
