A Cedar Rapids property management and development company that acquired the Insurance Exchange Building last fall is looking to add a coffee shop or retail space on the ground floor of the historic building along Fifth Street in downtown Des Moines.
High Properties, an equity, management and development firm, closed on the sale of the 10-story, 136,000-foot building, which was owned by the Graham Group, on Oct. 31. Online property records show the sale price was $4.3 million.
Darryl High, owner of High Properties, said he intends to maintain the building as all offices, but wants to add an amenity for tenants and those in the neighborhood, including patrons of the YMCA across the street…