WEDNESDAY, DEC. 11, 2019  |  IN THIS ISSUE

BankIowa plans to open a full-service branch in mid-2020 near Linn-Mar High School in Marion.

The new BankIowa office was approved by the Iowa Banking Division on Nov. 27 for a location at 901 Tower Terrace Road, Unit 100.

"BankIowa has been privileged to serve many clients in Marion from our other area offices and now believe it is the right time for our organization to establish an office in Marion," said a statement released by BankIowa Cedar Rapids Market President Russ Breazeale. "Many of our team members are active in the community with children in the Linn Mar and Marion school districts and with other community organizations. The entire BankIowa team is very excited about adding a location in Marion."

The site is in the rapidly growing Tower Terrace Road corridor that is expected to become a major east-west artery through the metro area when a new I-380 interchange opens in Hiawatha and missing segments are filled in. It is in new multi-tenant building that houses Parks & Schmitt Orthodontics, Eastern Iowa Oral and Maxillofacial Surgery and Horton Family Dentistry, and formerly housed Innovative Protein and Coffee Bar.
 
BankIowa was established in 1921 and has 11 branches in 7 Eastern Iowa communities.  The independent, locally-owned bank has over $650 million in assets, and operates offices in Cedar Rapids, Waterloo, Cedar Falls, Independence, Jesup, Lamont, Norway and Waterloo.
 
538 S. Gilbert St., Iowa City  
One of the grand early mansions of Iowa City recently hit the market at 538 S. Gilbert St.

The Close House at the corner of Gilbert and Bowery streets, built in 1874, is a 14-room brick Italianate mansion with 7,522 square feet of space. It has recently housed The Mansion, a home furnishings and design studio, which has relocated to Coralville.

Features include a "trendy" third-floor apartment, where a business owner could live, a second floor ballroom and a carriage house with a loading dock.

The property's namesake was early industrialist Chalmer Close, who operated a linseed mill in Iowa City.

The property is listed with Blank & McCune at $1.8 million. The listing includes an extensive photo gallery of the historic property.
 
Outside the North Liberty Pizza Ranch at 395 Beaver Kreek Centre, where renovations have begun. PHOTO ADAM MOORE
Two Corridor-area Pizza Ranches are getting high-end makeovers, the latest in restaurateur and real estate investor Brandon Pratt's efforts to supercharge his growing portfolio of locations with additional seating, delivery options and FunZone Arcades.

Mr. Pratt's Lion Development Group owns and operates Pizza Ranches in Illinois and Iowa, including locations in Cedar Rapids, Iowa City and one coming soon in Marion. It took ownership of the North Liberty Pizza Ranch at 395 Beaver Kreek Centre and an adjacent former massage parlor on Nov. 1.

In a "down to the stud wall" remodel of the now combined properties, he plans to reopen in North Liberty by early March with 195 seats, three party rooms and a FunZone Arcade featuring machines that allow kids to cash in their "winnings" for prizes.

Further north, Lion Development plans to add 3,400 square feet to the Pizza Ranch at 2450 Westdale Drive SW in Cedar Rapids. The expansion, the largest ever for the 209-store, 18-state chain, will bring the restaurant's square footage to just under 10,000 square feet. The revamped restaurant is expected to be complete in January, making way for four new party rooms (for a total of six), as well as 90 new seats and a FunZone nearly double the size of the group's first arcade project in Iowa City.

Read the full members-only story in this weeks's print or digital editions of the CBJ.
 
A real estate division of U-Haul is ready to begin a $450,000-plus conversion of the former Westdale Younkers space, where the company has a branch, into more than 500 storage lockers.

Amerco Real Estate plans to remodel 52,319 square feet of the 100,000-square-foot building into 489 storage lockers and 16 accessible storage lockers, according to building permit issued by the city on Nov. 20.With additional display area and restroom space, the total remodeled area will be 56,403 square feet.

The work also includes an additional overhead door on the west wall of the building and a sliding door on the south wall of the building.

U-Haul of Eastern Iowa, which operates the Westdale facility, has also filed plans with the city for a potential conversion of the former Sears space at Lindale Mall into a U-Haul location, according to a report in The Gazette. Converting unused buildings into U-Haul locations is part of the company's Reuse Program, which includes reuse of boxes and other shipping materials. 

2500 Crosspark Road, Coralville 
CREDIT Q4 REAL ESTATE
The University of Iowa BioVentures Center, considered by many the flagship building of the UI Research Park in Coralville, has gone on the market for $14.2 million.

The 80,000-square-foot building serves as an incubator for many R&D-based UI spinout companies, which receive subsidized rents from the University of Iowa. It is also home to the Lion's Eye Bank. However the building at 2500 Crosspark Road is privately owned by three individuals, who recently listed it with Q4 Real Estate.

"It's a combination of high level lab space and some very, very nice office space," said commercial real estate Craig Byers of Q4. He said the building is 100 percent leased, and with the UI as its main tenant, the owner will have the benefits of a creditworthy long-term tenant.

Q4 is marketing the property to high net worth investors in the Corridor who are looking for a solid long-term investment in a resarch building, but has also had contact with REITs who invest in research park or lab space, and with specialized real estate investors who focus on research park property.

"It's a living, breathing, building running 24/7," Mr. Byers said, "not only the building's mechanical systems, but all that tech that runs through it and a lot of university professors who also operate businesses or perform R&D there."

Ryan Companies US initially constructed and owned the building before selling it to the current owners. University of Iowa Media Relations Director Anne Bassett says the UI will maintain its leases in the building if it's sold.
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NAME SYM PRICE CHG %CHG
AEGON AEG 4.45 0.01 0.23%
Alliant Energy  LNT 53.04 0.09 0.17%
Casey's General Stores CASY 156.87 -1.85 -1.17%
Deere & Company DE 169.70 -0.20 -0.12%
Dow Jones ^DJI 27,911.30 29.58 0.11%
General Mills GIS 51.58 -1.66 -3.12%
GoDaddy GDDY 66.15 0.13 0.20%
Great Western Bank GWB 34.49 0.07 0.20%
Heartland Express HTLD 21.02 0.02 0.10%
KemPharm KMPH 0.395 0.0338 9.36%
Marsh & McLennan MMC 108.97 0.27 0.25%
MidWestOne  MOFG 34.95 0.28 0.81%
Pearson PSO 8.48 0.19 2.29%
Pepsico PEP 137.10 0.83 0.61%
Principal Financial  PFG 53.52 0.28 0.53%
QCR Holdings QCRH 42.17 0.18 0.43%
S&P 500 ^GSPC 3,141.63 9.11 0.29%
Procter & Gamble  PG 124.63 0.36 0.29%
United Fire Group UFCS 43.02 -0.20 -0.46%
U.S. Bank USB 59.25 -0.70 -1.17%
United Technologies UTX 147.27 1.90 1.31%
Wells Fargo  WFC 53.17 -0.52 -0.97%
West Bank WTBA 24.72 -0.12 -0.48%
Whirlpool  WHR 146.20 1.73 1.20%

Short-Term Event Planner .
   
Dec. 12
Monthly Breakfast Roundtable, by SCORE of East Central Iowa, 7:30-9 a.m., Scott's Family Restaurant, 1906 Blairs Ferry Road NE, Cedar Rapids. Free. This networking opportunity offers a chance to share best practices and get help with business challenges. Free. To register, visit conta.cc/32In4Yi.

LFS Alumni Holiday Breakfast, by Cedar Rapids Metro Economic Alliance, 7:30-9 a.m., Ideal Social Hall, 213 16th Ave. SE, Cedar Rapids. Join the Leadership for Five Seasons Advisory Board and LFS alumni at the alumni holiday breakfast. Bring a bring a package or two of diapers to support the Eastern Iowa Diaper Bank. Free. To register, visit bit.ly/2qMuQne.

Charitable Giving & Tax Strategies, by SCORE of East Central Iowa, 11:30 a.m.-1 p.m., Hills Bank, 3905 Blairs Ferry Road NE, Cedar Rapids. This workshop will take a strategic look at charitable giving and maximizing your impact for tax purposes. Free. To register, visit conta.cc/2XuePyj

Short's Burger & Shine Ribbon Cutting, 3 p.m., Short's Burger & Shine, 780 11th St., Marion. Celebrate the opening of this new Marion restaurant. Free. For more information, visit bit.ly/2X6jqGy.

Regional Legislative Launch, by Cedar Rapids Metro Economic Alliance and Iowa City Area Chamber of Commerce, 5-7 p.m., Cedar Ridge Winery & Distillery, 1441 Marak Road, Swisher. The Economic Alliance and Iowa City Chamber have partnered to create identical state and federal public policy agendas. The pair will advocate as one this year when working with regional policymakers. Members of both organizations are invited to celebrate this collaboration and officially unveil the agendas. Free. To register, visit bit.ly/2rhgL11.

Dec. 13
CLP Happy Hour, by Iowa City Area Chamber of Commerce, 4:30-6:30 p.m., Louie's Wine Dive, 901 E. Second Ave., Suite 100, Coralville. Free. Register before Dec. 11 at bit.ly/382A0MD.

Dec. 16
Coralville Roundtable, by Iowa City Area Chamber of Commerce, noon-1 p.m., Monica's, 303 Second St., Coralville. Members are invited to network and keep up to date with chamber and community events. Free. For information, call (319) 337-9637.

Stellar Women Achieving Greatness (SWAG), by U.S. Small Business Administration, 4-6 p.m., SBA Branch Office, 2750 First Ave. NE, Suite 350, Cedar Rapids. SWAG offers women who are in business, or who are thinking about starting a business, the opportunity to meet, connect with and provide mutual support to each other. Claire Reiman, director of the Iowa Women's Business Center, will also give an overview of the programs, services and opportunities they provide. Free. For more information, contact Jo Eckert at (319) 362-6535 or at [email protected]
Headlines from CBS2/FOX 28 
These news items are provided by CBS2/FOX 28  
The University of Iowa is helping Eastern Iowans get rid of lead in their drinking water. A  UI campaign called "Get the Lead Out" sent our more than 250 lead testing kits to residents throughout Eastern Iowa.  Results form those tests are giving residents the tools they need to make changes.  "We've had to email people and tell them 'we would recommend you not drink your water and look at alternative sources,'" explained student researcher, Danielle Hollingshead.  This project is part of a larger push to create a database of lead levels in drinking water in homes and schools throughout the state.  UI Research Scientist for IIHE- hydroscience and engineering, Drew Latta, is part of this project team.  "We just said to the community 'hey if you're concerned about lead in your drinking water, we're going to offer you a test for free. We'll give you a few bottles, you can send them back to us and we'll test it here at the University of Iowa for you," said Mr. Latta.  Ms. Hollingshead said they're working through the results, but have told three residents they have unsafe lead levels in their homes.
High lead levels are especially dangerous for infants and young children.  According to the  Iowa Department of Health , 890 children had a confirmed elevated blood lead level in Iowa during 2017.

The announcement of an  agreement on the modified North American trade pact (NAFTA) is causing those in the farming and agriculture industries and state and national leaders to breathe a sigh of relief.
While the United States-Mexico-Canada Agreement deal still has to be approved by the House of Representatives and Senate, supporters are saying they have high hopes for this deal.
"Fundamentally, it's going to move more product without the barriers and the hoops we have to jump through," said Steve Swenka, a farmer in Tiffin.  If ratified, supporters believe both the manufacturing and farming industries will see a major boost.  "There's going to be more beef products moving to Canada," said Mr. Swenka. "There's going to be pork products going into Mexico."  Iowa is the country's second largest agricultural exporting state. Like those in other states across the country, Iowa leaders have been working with others and watching talks on this deal closely.  "It's assumed that there will be about a $35 billion investment in automobiles manufacturing in the United States," said Iowa Senator Chuck Grassley on Tuesday.  Congresswoman Abby Finkenauer agrees that this deal is beneficial to all those in various industries across the country, but says more can be done for farmers who produce soybeans.  "We are still in an ongoing trade war with China," said Congresswoman Finkenauer. "Our soybean farmers are continuing to hurt with their markets being lost to Brazil."

T hese news items are provided by CBS2/FOX 28 
CBS2 Weather First Forecast
 
There will be a big spread in temperatures, with low teens in the north, low 20s where fresh snow has fallen.  Temperatures will drop quick tonight, but after midnight they will steady then rise through the night. Southeast winds will pick up to 10-20 m.p.h. as clouds thicken. Well north of Highway 20 in counties along the Minnesota border, light snow is likely overnight, but accumulation will be very limited, a dusting at best.  Temperatures will gradually warm to above normal by the end of the week. High temperatures will range from the mid 30s to mid 40s both days under mostly cloudy skies. A couple of systems passing through the upper Midwest may bring a wintry mix and snow chances to far northeast Iowa both days.