by Dan Rafter
The industrial sector remains a hot one, as a new spec project in Iowa shows.
The Opus Group is planning a 200,700-square-foot speculative industrial development in Ankeny, Iowa. This particular building will mark the second phase at the Corporate Woods Industrial Park, a 50-acre master-planned development.
As in most other Midwest markets, demand for industrial space in the Des Moines market — Ankeny is about 13 miles from Des Moines — is strong. This is evident in the strong performance so far of the Corporate Woods development.
Opus reports that the development is already home to a fully leased 208,000-square-foot industrial warehouse. It also has additional space for a third facility of up to 200,000 square feet.
“Corporate Woods has proven to be a great home base for industrial tenants both for the flexibility of the space and its location in the heart of Iowa with quick access to two major interstates,” said Jason Conway, director of real estate development for Opus Development Company, in a written statement.
“Building on the success and quick leasing of the first building in the park, the second development has similar features with an added benefit of providing more space for outside storage or trailer parking,” Conway said.
The new warehouse will offer 32-foot clear height, one drive-in door, up to 54 dock doors, ESFR sprinkler systems, 121 parking spaces and the ability to accommodate up to 58,000 square feet of outdoor storage or additional auto or trailer parking.
Construction on the new development began in June. Opus predicts a completion date of May of 2018.