CBRE Appointed Exclusive Sales Agent for JCPenney-Anchored Valley West Mall in West Des Moines, Iowa

CBRE announced today that it has been appointed as the exclusive sales agent for Valley West Mall, an 856,000-square-foot enclosed mall in West Des Moines.

CBRE’s Todd Millang, Bill Wright, Riley Hogan, Grant Wright and Blake Bogenrief will market the property on behalf of the court-appointed receiver.

The two-story Valley West Mall is located at 1551 Valley West Drive and has been in operation since its completion in 1975. Situated on a 57.72-acre site, the property is zoned for commercial development and offers the potential for future high-density residential redevelopment. This multi-tenant project remains anchored by JCPenney.

"CBRE is looking forward to finding the right developer who is excited about the rare opportunity for an infill development of this magnitude in the heart of the greater Des Moines metro,” said Millang. “We have a strong list of retailers interested in the site, but we believe it will become a multi-use development once all the pieces of the puzzle are put together. It will be great to see how this project will reshape this already strong corridor in our market.”

The site is positioned just north of Interstate 235 within the University Avenue retail corridor, where daily traffic exceeds 100,000 vehicles. It offers direct connectivity to the greater Des Moines metro area. Additionally, the interchange of I-235 and I-35/80 is just over a mile west of the property, enhancing regional accessibility.

“The City of West Des Moines is thrilled to commence the redevelopment process that will determine what the future of this key site will include when re-envisioned as more than a traditional enclosed mall,” said Ryan Moffatt, Community and Economic Development Director in West Des Moines. “This site is centrally located within the metro area, has great transportation access and with the right proposal, could once again become a vibrant hub of activity for our community and the region.”

According to CBRE Research, the Des Moines retail market maintained strong performance through the end of 2024, ending with an overall retail vacancy of 3.5%. All submarkets experienced positive absorption in Q4, with the Western Suburbs submarket accounting for 55% of the total. Additionally, the Western Suburbs submarket led all submarkets in construction volume in 2024, with Live Nation and Top Golf among the most notable.