- Extraordinary Location
- High-Quality Asset Offers Luxury Living
- Exceptional Lease-Up Proves Strong Demand
- Rents Well Below Comps in the Market | $396/Unit in Upside
- Strong Surrounding Demographics
- Offered Free & Clear of Existing Debt
Extraordinary Location
Strategically located in the heart of West Des Moines’ thriving new development, Kings Grove offers tenants convenient access to a variety of options for work and play. The asset is near the West Des Moines Corporate Campus Corridor, minutes away from white-collar employers such as Athene, Wells Fargo, IMT, and Sammons Financial Group. Kings Grove is also less than two miles from the brand-new, $250-million campus of Des Moines University Medical School.
The property also offers quick connectivity to the premiere retail corridor in the state, the Jordan Creek Trade Area. Jordan Creek Town Center boasts 1.3 million square feet of 100%-occupied retail and restaurant storefronts, including top national retailers such as the #1 record-setting Lululemon store. The center also boasts a brand-new, 20,000-square-foot flagship Ruths Chris restaurant, the largest of 183 locations worldwide with three levels and four bars.
High-Quality Asset Offers Luxury Living
Kings Grove offers tenants luxury living. High-quality construction is evident throughout each townhome unit. Each townhome includes a Chef’s Kitchen, complete with upgraded Whirlpool appliances and a walk-in pantry. A laundry room in each unit includes a washer and dryer set, as well as a separate mud room with lockers. The master bedroom features an en-suite bath, and all bedrooms offer walk-in closets. LED recessed lighting, 9ft ceilings, ceiling fans throughout, and a smart HVAC system enhance each townhome. A favorite feature among tenants is the full-sized attached two-car garage. Covered porches are a finishing touch that allow tenants to enjoy the outdoors.
Exceptional Lease-Up Proves Strong Demand
Phase One, completed in 2020, consisted of ten units. Phase Two, completed in 2022, consisted of sixteen units. Both phases saw units absorbed very quickly, speaking to the quality of the asset and proving high demand for Class-A townhome product in West Des Moines.
