Apartment Community for Sale in Booming West Des Moines

Tuesday, May 15, 2018

Update: HFF announced the closing of this sale in October 2018. Please visit our Property Search page for a current listing of available multi-housing properties for sale.

Holliday Fenoglio Fowler, L.P. (HFF), on behalf of the owner, is marketing Springs at Jordan Creek for sale. The 160-home apartment community comprises seven two-story buildings in booming West Des Moines, Iowa.  Residents enjoy quick access to the top employers of Des Moines / West Des Moines, including Principal Financial Group and Wellmark Blue Cross Blue Shield, both of which ranked in the top five of Forbes’ “America’s Best Employers 2018” list. Other prominent area employers are Wells Fargo, Mercy Medical Center and Athene USA Corporation, as well as limitless shopping, dining and entertainment destinations. Springs at Jordan Creek offers investors the opportunity to acquire a fully stabilized property in the thriving West Des Moines submarket.

West Des Moines boasts an abundance of retail and dining options that attract residents, employers and visitors from across the state and region. Situated on 12.05 acres at 8655 Bridgewood Boulevard, Springs at Jordan Creek is located just 1.3 miles from the Jordan Creek Town Center, which, at 1.34 million square feet, is the largest shopping complex in the state of Iowa and the fourth largest in the Midwest. Jordan Creek Town Center has 142 stores and 25 restaurants, and, after it was completed in 2004, complimentary uses were immediately attracted to the area. In fact, Wells Fargo announced the opening of their new Home Mortgage Headquarters just one year after the Town Center was complete. Additionally, a 3.5-acre lake surrounded by bike trails, pedestrian walkways and a boardwalk comprises the Lake District portion of Jordan Creek Town Center. Cultural activities and entertainment include waterfront dining, a hotel, and an amphitheater. Restaurants include Cheesecake Factory, P.F. Changs and Flemings Prime Steakhouse.

Apartment Community for Sale Investment Highlights

  • Excellent Amenity Package:  The premier amenities at Springs at Jordan Creek make living at the property both a daily luxury and convenience. Whether one likes to lounge by the pool, workout in the 24-hour fitness center or let the dogs run off-leash, there is something for everyone at Springs at Jordan Creek. Additional property amenities include a grill area, business center with Wi-Fi and laptops, resident coffee bar, garage parking, lounge with fireplace, community garden plots and modern resident clubhouse. Units feature open floor plans, spacious walk-in closets, island breakfast bars, in-unit washers and dryers, hardwood-style floors, granite or Formica countertops, stainless steel or black appliances and espresso cabinets.
  • Top Employers and West Des Moines Submarket along with Unmatched Des Moines and Dallas County Accolades:  Springs at Jordan Creek has exceptional access to employers within the West Des Moines market, particularly within the areas of insurance, financial services, investments, healthcare and education. West Des Moines is home to dozens of corporate headquarters and thousands of white collar professional jobs. Springs at Jordan Creek is located 15 minutes or less from all of the top 10 employers within West Des Moines, including two that ranked on Forbes’ recently released list of “America’s Best Employers.” Additionally, the area was listed as U.S. News & World Report’s No. 4 “Best Place to Live” and the No. 8 “Top City for Tech Hiring in 2018” according to Robert Half Report, and the county is considered the No. 1 “Best County for Families in Iowa” and the No. 3 “Best County to Live in Iowa” from Niche.com.
  • Strong Area Demographics:  Springs at Jordan Creek is exceptionally located in relation to the largest employers, retail corridors and interstate highways in the affluent Dallas County and West Des Moines submarkets. The area where Springs at Jordan Creek is located has one of the best demographic profiles found in the Des Moines MSA. Residents living within one mile of Springs at Jordan Creek earn an average income of approximately $126,000 or almost $10,500 per month. Fifty percent of the population earn more than $100,000 annually.
  • Top-Ranked and Rapidly Growing School District:  Residents at the Springs at Jordan Creek are privileged to be within the Waukee School District, one of the best and fastest growing school districts in the state. Waukee High School is ranked No. 8 in the state and in the top 10 percent nationwide, according to U.S. News & World Report. Due to the rapid growth in the school district, a second high school will be built north of Hickman Road and east of North 10th Street near the Waukee Family YMCA, less than five miles from the property. Construction will begin in the spring of 2018 and doors will open in the fall of 2021.

The apartment community for sale offers an investor a multifamily asset with a strong amenity package near a robust employment base that includes award-winning employers. For more information on Springs at Jordan Creek or other commercial properties for sale in the Midwest, please contact David Gaines, Sean Fogarty or Jules Sherwood. To view current real estate investment sales listings, please click here to view HFF’s property search page.

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