PRISA USA And Prudential Global Investment Management Acquire Industrial Asset In Des Moines For $110M

The property involved in this transaction is an industrial asset located at 2021 South 208th Street & 2341 South 208th Street in Des Moines, IA. The sale price for the property was $110,000,000, encompassing a total square footage of 552,000, equating to a price per square foot of $199. This asset is situated within the Des Moines Creek Business Park, consisting of a 25-acre campus with three buildings developed in 2016.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: $110,000,000
• Square Footage: 552,000
• Address: 2021 South 208th Street & 2341 South 208th Street
• Market: Des Moines, IA
• PPSF: $199
• Buyer: PRISA USA & Prudential Global Investment Management
• Seller: Clarion Partners

PRISA USA and Prudential Global Investment Management acquired this property from Clarion Partners. The business park, previously owned by LaSalle and Panattoni, features tenants such as K2 Skis and Taylor Farms, signifying a diverse industrial tenant mix.