Involta has acquired the ground floor of Building A at The Depot, the three-story segment of the attached buildings on the right.
Fast-growing Involta LLC has acquired a new 12,800-square-foot ground floor space in Cedar Rapids' NewBo District for $1.9 million.
Involta plans to move to the new and larger space at 406 12th Ave. SE from its current offices in the Paramount Building next January. The new space includes additional offices, multiple collaborative spaces and a much larger board room.
Involta, founded in 2007, provides data infrastructure and IT intelligence in nine markets from a growing network of data centers.
"We're looking forward to the excitement of our move in a few months to the NewBo District," Involta founder and CEO Bruce Lehrman stated in a press release. "We are designing a collaborative space that will allow our business to continue to grow."
He noted the space will provide additional room for planned staff growth, and allow Involta to host customer events and larger meetings.
The new facility is in Building A of The Depot, a $17.5 million mixed-use development led by Ahmann Companies in the heart of NewBo. The second floor of the building is owned by Collective Data, and the third floor is all apartments. With the arrival of Involta, the building will be fully occupied, according to Craig Byers of Pivot Real Estate, which handles sales and leasing for the development.
Work is now underway on the third building in the development.
Halfway into 2017, the year is shaping up to be another good one for home sales in Iowa.
The Iowa Association of Realtors reports that home sales are up 3.5 percent through the first six months of the year in Iowa, to 29,020. Sales were up in all the multiple listing services in the state except North Central Iowa, which was down 3.2 percent.
In the Corridor, sales rose fastest in the Iowa City area. A total of 1,775 homes in the Iowa City Area Association of Realtors' multiple listing service were sold in the first six months of 2017, an increase of 4.5 percent.
The Cedar Rapids Area Association of Realtors reported sales up 1.7 percent, to 2,521.
Two multiple listing services in the state reported big improvements. Both the West Central Iowa Regional and the Heartland of Iowa listing services reported increases in the 25 percent range for the first half.
A rendering of the planned Trader Joe's at Coralville's Iowa River Landing. CREDIT Trader Joe's
With the Corridor's first Trader Joe's store about to open in Coralville's Iowa River Landing, a new analysis by AATOM Data Solutions shows that prospective homebuyers are better off buying near a Trader Joe's than a Whole Foods or an ALDI.
Homeowners near a Trader Joe's have seen an average five-year home price appreciation of 67 percent, compared to 52 percent appreciation for homeowners near a Whole Foods and 51 percent near an ALDI, the report said.
Homeowners near a Trader Joe's also have added equity, owning an average 36 percent equity in their homes ($232,439). Homeowners near Whole Foods had an average of 31 percent equity ($187,925) while those near ALDI had an average of 18 percent equity ($46,352).
For real estate investors looking for the best home flipping or rental returns, targeting neighborhoods around the discount German-owned grocer ALDI is the best strategy, according to the analysis.
The average appreciation for all zip codes with these grocery stores nationwide is 54 percent.
The average equity for all zip codes with these grocery stores nationwide is 24 percent
The average gross flipping ROI for all zip codes with these grocery stores nationwide is 57 percent.
Properties near an ALDI had an average gross rental yield of 10 percent, compared to properties near a Whole Foods (6 percent) or Trader Joe's (5 percent).
For its analysis, ATTOM looked at current average home values, five-year home price appreciation from YTD 2017 versus YTD 2012, current average home equity, home seller profits and rental data from
U.S. Department of Housing and Urban Development on zip codes nationwide with a least one Whole Foods store, one Trader Joe's and one ALDI.
A fast-developing area on the eastern edge of Marion is poised to gain a Kwik Trip convenience store.
The LaCrosse, Wisconsin-based convenience chain acquired nearly 12 acres on the north side of Highway 151 at 62nd Street from Robert Verhille and Sana Land last month.
Kwik Trip paid a total of $1.6 million for two parcels, one of just under 6 acres and one of 4.77 acres.
The move comes as construction begins on a large mixed-use development nearby at the northeast corner of Highway 13 and Highway 151 that is expected to include a hotel, a bank, condominiums, restaurants and offices.
The CBJ
reported last year that Kwik Trip is developing a new store near the I-380/33rd Avenue SW interchange in Cedar Rapids on the former Hupp Electric site. The company's stores are larger than typical convenience stores - more than 9,000-square-feet in the case of the 33rd Avenue SW site plan. They fill much of that space with convenient grocery items that customers can buy for meals at home.
July's report on housing construction activity was mixed, with privately owned housing starts below year-earlier levels for the month, but building permits for new housing units unchanged.
The report from the U.S. Census Bureau and the Department of Housing and Urban Development said housing starts for the month came in at a seasonally adjusted annual rate of 1,155,000, which was 4.8 percent below the revised June estimate of 1,213,000, and 5.6 percent below the July 2016 rate of 1,223,000 starts.
Single-family construction authorized by new building permits in July were at a rate of 811,000, which was unchanged from June.
Housing completions for privately owned housing in July rose to a seasonally adjusted annual rate of 1,175,000. That was 6.2 percent below the June rate, but 8.2 percent above the July 2016 rate.
Scarce housing inventory has been a challenge to single-family home sales after a prolonged period of gains driven by low interest rates and a gradually improving economy.
Single-family housing completions in July were at a rate of 814,000. The completion level was 1.6 percent below the revised June rate of 827,000.
Did you make the CBJ list?
Each week, the Corridor Business Journal releases a free list in print and online ranking the top companies in the region around a specific sector or topic. Make sure that your company is in the running by contacting Jean Suckow at
jean@corridorbusiness.com or 319-665-NEWS to update your company's information. Upcoming lists include:
Aug. 21: Top Tourist Attractions & Travel Agencies Aug. 28: Website Developers Sept. 4: Commercial Property Management Companies
From around the web.
Interior Design magazine profiles a wired hostel in Singapore using digital technology to connect the young travelers who bunk there.
Buildings magazine explores how to create good acoustics in the popular open floor plan office settings.
Realtor.com reports on a Joybird-sponsored study finding which interior design trends are hottest in each of the 50 states.
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Open Coffee, by Washington Chamber of Commerce, 8-9 a.m., Café Dodici, 122 S. Iowa Ave., Washington. This event is open to the public and anyone interested in an open discussion about fostering creativity, innovation, and entrepreneurship in the Corridor is encouraged to attend. Free. Call (319) 653-4712 for more information.
BizMix: Miron Construction, by Cedar Rapids Metro Economic Alliance and Marion Chamber, 4-6 p.m., Miron Construction Co., 335 French Court SW, Cedar Rapids. BizMix brings together area professionals for casual networking over complimentary hors d'oeuvres and cocktails, and is hosted by a different member business each month. Free for members, registration not required. For more information, call (319) 398-5317.
Headlines from CBS2/FOX 28
These news items are provided by CBS2/FOX 28
Authorities have identified the
teen fatally struck by a train in Linn County late Monday night. Authorities say 17-year-old Alexis Ann Wood of Hudson had been walking on the tracks when a west-bound train hit her. She was declared dead at the scene.
Marion Police and the University of Iowa are trying to blaze a new trail with a pending partnership in intelligence-led policing. The union would be the first of its kind for both the university and the police department. The first of two presentations from the parties to the Marion City Council was made on Tuesday. A second is planned for Thursday at 5:30 p.m. at City Hall. A decision on the proposal is expected then.
These news items are provided by CBS2/FOX 28
CBS2 Chief Meteorologist Terry Swails' Weather First Forecast
Scattered showers and storms will be possible after 1 p.m. with another round after 5 p.m. Storms may linger up until or past midnight. Some storms could be strong this evening with strong winds, small hail and heavy rain. Accumulations will be near a half an inch to an inch. Storms will wind down and clouds will linger through the first half of Thursday. Temperatures will be near 80 Thursday and in the low 80s Friday under more sunshine. There is the chance for a few showers and storms around early Saturday, then it will be dry through the rest of the weekend.
Involta acquires ground-floor space in The Depot 
