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HUBBELL BEGINS CONSTRUCTION ON THE FOURTH DISTRIBUTION CENTER IN GRIMES

WEST DES MOINES, IA (October 25, 2016) – Hubbell Realty Company has begun construction on the fourth industrial building at Grimes Distribution Center, located at 1300 SE Little Beaver.

The new facility totaling 110,000 square feet will be identical to the three other buildings. Grimes Distribution Center 4, located six minutes from Interstate 80/35 via Highway 141 has the ability to accommodate tenant space requirements in 10,000 square-foot increments, complete with 24-foot clear ceiling height. The building is scheduled to be ready for occupancy in June of 2017.

Similar to the first three buildings, Grimes Distribution Center 4 contains eleven 10,000 square foot bays that measure 50 feet by 200 feet. Each bay has a 9 foot by 10 foot dock, and four of the bays have 16 foot drive in doors. The building is fitted with an Early Suppression Fast Response (ESFR) fire sprinkler system, a 480-volt three-phase 2,500 amp electric service, and T-8 fluorescent lighting.



The first building at Grimes Distribution Center was delivered in 2008 and was followed with building two and three in 2012 and 2014. New tenant monument signage was installed throughout the center in 2016.

According to the 2016 Real Estate Market Survey, released by CBRE|Hubbell Commercial and prepared by Frandson & Associates, L.C., industrial occupancy in the Western Suburbs has been steadily increasing over the past three years. Current local occupancy in the industrial sector is strong at 96 percent compared to 91.3 percent nationally.

Tenants of the already completed buildings within Grimes Distribution Center include traditional industrial occupiers as well as entertainment and sports-related occupiers such as The U, MB2 Raceway and Sky Zone.

“With very limited available space in the market, Grimes Distribution Center offers occupiers an identifiable, accessible location and quality building environment at a competitive lease rate,” stated Morey Knutsen, Vice President, CBRE|Hubbell Commercial.

Grimes Distribution Center is owned and managed by Hubbell Realty Company and the general contractor is 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.

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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 33 residential communities and 12 business parks. 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.

About CBRE|Hubbell Commercial
Hubbell Commercial Brokers, L.C., d/b/a CBRE|Hubbell Commercial, part of the CBRE affiliate network, is the leading commercial brokerage company in Iowa. CBRE|Hubbell Commercial assists real estate owners, investors and occupiers by offering strategic advice and execution for property leasing and sales, investment strategy, market research and consulting. CBRE|Hubbell Commercial is located at 6900 Westown Parkway, West Des Moines, IA, 50266. For more information, call (515) 224-4900, or visit www.cbrehc.com.

About Hubbell Construction Services

Hubbell Construction Services, a subsidiary of Hubbell Realty Company, offers integrated construction and development services, including general contracting, interior construction renovation, pre-construction, design-build and construction management. Hubbell Construction Services is located at 6900 Westown Parkway, West Des Moines, IA, 50266. For more information, call (515) 243-3228, or visit www.hubbellconstruction.com.

Licensed in the State of Iowa | Copyright © 1999-2017 Hubbell Realty Company

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