West Des Moines, IA (January 8, 2014) – Hubbell Realty Company is continuing development of the Grimes Distribution Center with a third building, 1400 SE Gateway Drive, located directly west of the current facilities at 1300 and 1350 SE Gateway Drive. The new facility will be identical to the other buildings, totaling 110,000 square feet. It has the ability to accommodate tenant space requirements in 10,000 square-foot increments with 24-foot clear ceiling height. Construction is slated to begin in spring 2014, and the building is scheduled for occupancy in late fall 2014.
Only four months after completing the second Grimes Distribution Center building, located at 1350 SE Gateway Drive, the facility is 100 percent leased. Tenants include DSI Systems, Inc., a national distribution company; The U-Iowa’s Sports University, an indoor sports facility; and MB2 Raceway, an indoor kart racing facility. The first building, located at 1300 SE Gateway Drive, has been 100 percent occupied since spring 2012.
“The industrial sector in central Iowa consistently performs well, with today’s occupancy rate at 93 percent, the highest since 2001 and above that national rate of 88 percent,” stated Kyle Gamble, Senior Vice President and Managing Director CBRE|Hubbell Commercial. “Hubbell has responded to this need for additional industrial space through the expansion of Grimes Distribution Center. We continue to see interest from agribusiness, distributors and sports/entertainment occupiers.”
Grimes Distribution Center is owned and managed by Hubbell Realty Company. 1400 SE Gateway Drive is being built by Hubbell Construction Services. For leasing opportunities, contact Morey Knutsen or Jon Ledinsky at 515-224-4900 or visit CBRE|Hubbell Commercial online at www.cbrehc.com.