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News release

ANKENY

Ankeny’s Prairie Trail brick and mortar retail thrives amidst national slowdown

DRA Properties has found that a mix of office, retail and residential the key to success


ANKENY, June 29, 2017 -  While some retail areas struggle to keep tenants, Ankeny's Prairie Trail is just trying to keep up with the demand. "We've seen an increased demand from both office and retail users wanting to be here at Prairie Trail," said Marcus R. Pitts, Executive Vice President with JLL in Des Moines. "We have roughly 70,000 sf of competitive space under construction with several signed leases and interested prospects in the space.  Iowa is typically a tough market for preleasing efforts but we are having success now with Tenants looking to occupy within the next 6-12 months.  We foresee this demand continuing to increase given the recent announcements of the theatre, bowling alley, hotel and library."

DRA Properties announced in January that a new Marriott Residence Inn by Kinseth Companies would break ground in 2017 and be checking in guests by late 2018. From there, Spavia, WineStyles, Lola's World Kitchen (from the owners of the local favorite Lola's Hot Sauce), and Mainstream Boutique joined other businesses in The District. The City of Ankeny will also build a new library in The District overlooking the new Town Square and a beautiful new all-digital projection multi-screen by B&B Theatres, complete with a bowling alley.

Since 2013, the City of Ankeny has issued new commercial and residential construction permits totalling $218.8 million. When Prairie Trail is complete, it is estimated that the population will be between 7,000 and 8,000, making it one of the top six percent of Iowa towns as measured by population.

From Fong's Fest to kick off the summer to Friendsgiving in November, where a crowd of more than 600 people broke the World Record for breaking bread together to residents moving in daily and businesses thriving and expanding in the development, to social events in between,  Prairie Trail's #alwayssomethinghappening hashtag will be trending for some time to come.

About JLL                                       

JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. A Fortune 500 company, JLL helps real estate owners, occupiers and investors achieve their business ambitions. In 2016, JLL had revenue of $6.8 billion and fee revenue of $5.8 billion and, on behalf of clients, managed 4.4 billion square feet, or 409 million square meters, and completed sales acquisitions and finance transactions of approximately $136 billion. At the end of the first quarter of 2017, JLL had nearly 300 corporate offices, operations in over 80 countries and a global workforce of more than 78,000. As of March 31, 2017, LaSalle Investment Management had $58.0 billion of real estate under asset management. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit www.jll.com.​