JLL selected to lease VanTrust Real Estate’s first development in Iowa
Altus Commerce Center in Altoona slated to be available the second quarter of 2022
DES MOINES, Iowa, May 21, 2021 – JLL has been selected to market VanTrust Real Estate’s ground-up Altus Commerce Center located in Altoona, Iowa. This property represents VanTrust’s entrance into the Des Moines market. Construction for the first building is expected to begin within the next few weeks with estimated delivery in the second quarter of 2022.
JLL Managing Director Marcus Pitts, Vice President Austin Hedstrom and Analyst Tanner Hedstrom will lead leasing efforts.
The industrial center is located at NE. 62nd Ave. and NE Hubbell Ave., with direct access to Interstate 80 and I-35, and U.S. Highway 65 and U.S. Highway 5. The location is less than a mile from a global e-commerce fulfillment center and near a large data center, making it ideal for businesses in the financial services, data centers, agbioscience, logistics and advanced manufacturing industries.
Altus Commerce Center’s 75-acre site offers prospective tenants numerous options including build-to-suit opportunities. Working off a four-structure plan, Building A will be 265,200 square feet and feature approximately 148 parking spaces, unit heaters and LED interior lighting.
“We’re excited to be entering this new market and expanding our portfolio into Iowa,” said Grant Harrison, Director of Real Estate Development at VanTrust. “It’s been a pleasure working with JLL and we expect a lot of interest in the center.”
The VanTrust Altus Commerce Center will open new opportunities for businesses looking to lease large industrial spaces in a thriving region.
“VanTrust has worked in other markets with JLL and we’re excited to partner with them on their first project in the Des Moines market,” said Austin Hedstrom. “Their entrance into the market comes at a time of high demand. The supply of large industrial spaces in our market is very low because of limited construction last year due to COVID-19.”
For more information on available locations for sale, please visit jll.com/des-moines.
About JLL
JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $16.6 billion in 2020, operations in over 80 countries and a global workforce of more than 91,000 as of March 31, 2021. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.
About VanTrust Real Estate
VanTrust Real Estate, LLC is a full-service real estate development company. The company acquires and develops real estate assets for the Van Tuyl family portfolio and offers a broad range of real estate services including acquisition, disposition, development, development services, and asset management. Product types include office, industrial, multifamily, retail, institutional, governmental, hospitality, and recreational. VanTrust works nationally with regional offices in Columbus, Dallas, Phoenix, and Jacksonville with its headquarters in Kansas City, Missouri.