A large Chicago real estate firm has acquired one of central Iowa’s largest office parks.
Bradford Allen, founded in 2003 in Chicago, bought the eight-building, 616,351-square-foot Regency West Office Park in West Des Moines, according to a news release. West Des Moines-based R&R Realty Group, which owns commercial real estate across the metro, previously bought the Regency West Office Park in 2021 and invested more than $1 million in improvements, including the addition of a gym and automated coffee shop, according to the Des Moines Business Record.
Regency West may be surpassed only in size by the Country Club Office Plaza office park, also in West Des Moines. The property is located along 50th Street and Westown Parkway and is about a 20-minute drive from Des Moines International Airport, with a nearby interchange with Interstate 235.
The price Bradford Allen paid was not disclosed. Regency West occupies more than 43 acres and includes parking for more than 2,200 vehicles.
It is the first Des Moines acquisition for the company, which has holdings throughout the country.
“Des Moines has been one of the fastest-growing metros in the Midwest, with strong business and insurance sectors,” Bradford Allen co-founder Jeffrey Bernstein said in a news release. “Our entrance into the Des Moines market with the acquisition of Regency West Office Park demonstrates our long-term vision and belief that well-positioned assets will create lasting value.”
Philip Joens covers retail and real estate for the Des Moines Register. He can be reached at 515-284-8184 or pjoens@registermedia.com.
This article originally appeared on Des Moines Register: West Des Moines office park bought by large Chicago firm
Reporting by Philip Joens, Des Moines Register / Des Moines Register
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