Hubbell Realty Company has started construction on the first phase of the Four Mile Distribution Center in Ankeny. The $15.5 million industrial warehouse will have 157,500 square feet and will sit on approximately 13 acres at SE Four Mile Drive and SE Corporate Woods Drive in Ankeny, immediately north of the recently finished Crosswinds Industrial Park.
The speculative warehouse will have 15 bays, 26 dock doors, 32-foot clear height ceilings and will have easy access to Interstates 80 and 35. This will be Hubbell’s third warehouse in Ankeny, joining Crosswinds I and Crosswinds II which will finish construction this spring.
“The overarching success and interest we’ve seen from our former industrial warehouses at Crosswinds makes Four Mile Distribution Center a very viable development for our team,” Kris Saddoris, Hubbell’s Vice President of Development. “We continue to see heavy investment interest from our local, regional and national contacts to see projects like this through to the next phase and we believe Four Mile will be another successful project.”
Per the Q1 2022 CBRE U.S. Industrial Report, overall industrial vacancy was around 3.1% nationwide with a strong demand in space continuing from 2021 numbers. The same can be said about market rent growth and a favorable outlook especially in northeastern suburbs like Ankeny, Bondurant, and Greater Des Moines where warehouse construction continues to occur at a fast pace.