In The News


West Des Moines, Iowa (August 8, 2016) – A company that started with one land acquisition in 1856 and has grown to be Iowa’s most well-known developer, property manager, commercial broker and home builder will celebrate a unique milestone on August 9, 2016 at the Iowa State Historical building – 160 years in business.

Hubbell Realty Company currently employs over 260 associates and works with hundreds of vendors, from dirt movers, engineers and architects to landscapers, electricians and plumbers.

“It is fair to say that Hubbell has been, and will continue to be, a strong economic driver in Central Iowa,” said Rick Tollakson, CEO and President of Hubbell Realty Company. “And, we know that our past successes are in part because of the relationships we have developed with clients, city leaders, our vendors and industry peers.”

Hubbell Realty Company is managed by a board of directors comprised of fourth, fifth and sixth generations from the Hubbell family. In 1983, when the family trust ended, it was up to Jim Hubbell III, who was then the CEO and President and now is the chairman of the board, to provide a plan to move the company forward.

“We got busy,” said Hubbell III. “Our goal was to show the family that it was important to keep the company going strong AND to take it to places it could never go before.”

In the years that followed, Hubbell Realty partnered with CBRE for commercial brokerage expertise, it started its own commercial construction division, began developing neighborhoods throughout the metro and building homes in those developments, conducted the largest real estate transaction in Iowa by purchasing a 1,682 unit apartment portfolio and becoming one of the largest multifamily developers in central Iowa, and, most recently began developing assisted living communities.

“What started with F.M. Hubbell’s love affair with real estate, has grown to become Central Iowa’s leader in all kinds of real estate solutions – from office space to apartments to homes to senior living – we are there for all your business and personal needs throughout your life,” said Tollakson.

Tollakson is the first to point out that in business one can never bask in past successes too long. “While reaching 160 years is a significant accomplishment, our focus must be on the future.”

Earlier this year, Hubbell acquired four new apartment communities, two in Urbandale and two in Sioux Falls, South Dakota, bringing its portfolio to over 4,500 units. It is also in the process of securing 75 acres on the southern edge of downtown along the Raccoon River. “That is a substantial amount of land that can keep us busy for several years and provide a whole new neighborhood in downtown Des Moines,” Tollakson added.

Currently, the company has a number of projects in development throughout the metro, including: apartment communities in downtown Des Moines (Cityville on 9th, Dwell, Verve, Vue, 5Fifty5, Carbon 550), Cadence in Johnston, residential neighborhoods in Urbandale (Waterford Landing), West Des Moines (Mill Ridge and Pemberley Hills), Waukee (Glynn Village), Ankeny (Heritage Park at Prairie Trail), and assisted living and memory care communities in Beaverdale, Ankeny and Norwalk.

“We are on a great ride,” smiled Hubbell III. “And, we are poised for the future… just like we have been in the past!”


About Hubbell Realty Company
Hubbell Realty Company is a leading commercial and residential developer and commercial property management firm. Headquartered in West Des Moines, Iowa, Hubbell Realty Company has 35 residential communities, 12 business parks, and manages over 4500 apartment units in Iowa and Sioux Falls. Always breaking new ground, Hubbell Realty Company has been a catalyst for growth in Greater Des Moines and can trace its presence in Iowa back to 1856. For more information, call (515) 243-3228, or visit

Licensed in the State of Iowa | Copyright © 1999-2018 Hubbell Realty Company

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