Ryan Companies US, Inc. and its real estate management and building services team have been appointed by Real Capital Solutions (RCS) to manage Capital Square located in Des Moines, IA. The 8-story, 486,755 square foot multi-tenant mixed-use building is the second largest office building in the central business district of downtown Des Moines.
Ryan Companies’ real estate management team began the assignment on January 1, 2019. Capital Square is currently 65% leased, with both office and retail tenants being pursued. Ryan Companies’ real estate management team, well known for their capabilities in repositioning properties across the US, will make improvements to the first and second floors to bring more activity to the building. Capital Square is connected through the city’s skywalk system which allows convenient access to the city center, Cowles Commons, parking and restaurants. The new management team will continue collaboration with Catering Des Moines, Catch Des Moines formerly the Des Moines Convention Bureau, and Des Moines Performing Arts to provide events throughout the year at the Cowles Commons and The Atrium. Some of the events expected to take place include the Drake Relays pole vaulting, art shows, farmer’s markets, and vegan and wine Fests.
“Capital Square is a valued asset to the downtown Des Moines CBD. We are looking forward to making proposed improvements and creating active open space that tenants and visitors can enjoy while continuing to provide an exceptional level of service,” said Jeff Steinke, Senior Vice President of real estate management at Ryan Companies.
Ryan Companies’ real estate management team currently has 1,119,445 square feet of property under management in Des Moines, 2,136,859 in the Midwest and 14.6 million across the US.
“RCS recognizes Ryan’s in-depth familiarity with Des Moines office markets. The personal touch that their team will bring to the day-to-day operations and accounting is one of the key reasons we chose the Ryan team and we look forward to working with them on this landmark building,” said Brian Mistysyn, Senior Asset Manager Real Capital Solutions.
The proposed improvements will take place over the next 12 months.