Spec Industrial Development Comes to Iowa

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.”