When Ziegler Cat looked to expand its distribution network, the heavy equipment dealer had its pick of about 2 million square feet of new industrial supply coming onto the Des Moines market.
The company settled on something new, a transloading facility developed by Des Moines Industrial.
Ziegler leased the entire 110,000-square-foot building at 357 SE. 15th St., which was constructed along recently extended rail lines, providing a facility that allows for loads to be moved between railcars and semi-trailers.
Because of the uniqueness of the development and its potential larger effect on the region, the lease is the winner of a 2023 CoStar Impact Award, as judged by real estate professionals familiar with the market.
The project is part of a broader vision by the developer and local officials to improve shipping efficiencies within a 150-mile radius, bringing in new businesses along the way.
About the project: Bloomington, Minnesota-based Ziegler sells and rents earthmoving, agriculture, landscaping, paving and construction equipment to customers in Iowa and Minnesota. The company signed a six-year lease for the new distribution facility, with 2% escalations annually.
What the judges said: “Transload facility is such a new concept to Des Moines and it had to be a challenge to find the right tenant,” wrote judge Cary Halfpop, director of real estate in the Polk County assessor’s office.
They made it happen: The development was led by Paul Cownie and Gabe Claypool of Des Moines Industrial. The developer was represented in the lease by CBRE brokers Harrison Kruse and Ned Turner. The tenant was represented by Cushman & Wakefield brokers Christopher Stafford and Matt Lundberg.
