Retrofit Atlas

Malls · Iowa

Valley West Mall

Imported, unreviewedOperatingWest Des Moines, IA

Valley West Mall, 58 acres operating in West Des Moines, foreclosed, sold to Threshold Capital for $300‑350M planned mixed‑use redevelopment. · summary, model-written

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Site profile4 elements · what this retrofit is built with · tap a chip for the evidence

Finance and pipeline
Foreclosure or REOThis site: Planned use: Mixed-use: retail, entertainment, residential; $300-350M. research-deals · all sites with this
Sold since 2020This site: 2026 Threshold Capital research-deals · all sites with this
Place
30,000+ vehicles a day on an adjacent roadThis site: 106,500 on I 235 W fhwa-hpms · all sites with this
Interstate or freeway within 600 mThis site: I 235 W fhwa-hpms · all sites with this

All elements and lists · Trends

Now

StatusOperatingpublic reporting reported

Deals and debt

DateEventPricePartiesSource
2026-09Sold · foreclosed$11.0M closedThreshold Capital ← Watson Centers Inc. (receivership) · trustee U.S. BankAxios 2026-09-29

Site context

Housing permits, Polk County (IA), 2024540 units in 5+ unit buildings, 114 in 2–4, 2,295 single-family; 2023: 858 in 5+Census BPS
Other atlas sites nearby0 within 10 km, 4 within 25 kmcomputed
Retail trade in the county, 2025 (BLS QCEW)30,016 jobs in 1,667 establishments; average annual pay $41,317; employment location quotient 0.96; employment -1.4% on the yearBLS QCEW 2025, NAICS 44-45, private
Jobs located in the tract, 202213,500 jobs; 1,729 in retail trade, 967 in accommodation and food (workplace blocks summed to tract 19153011114)Census LEHD LODES8 WAC 2022
Upward mobility (Opportunity Atlas, 2010 tract)children of low-income (25th percentile) families reached the 49th income percentile as adults; -0.2% incarcerated at the 2010 count (202 children in the sample); born 1978–83, measured 2014–15Opportunity Insights
Food access (USDA FARA 2019, 2010 tract)not a low-access tract at 1 mile; 2% of residents more than 1 mile from a supermarket; poverty rate 5.0%; median family income $69,389; 143 SNAP householdsUSDA ERS
SchoolsWest Des Moines Community School District (PK-12); 2 public schools within 1 mile: Indian Hills Junior High School; Valley High SchoolNCES EDGE
Elevation954 ft above sea level at the site pointUSGS 3DEP
Storm events in the county, 2016-2025686 county-logged events: 202 thunderstorm wind, 200 heavy rain, 162 hail, 40 flood; $94,129,700 property damage reported; 1 direct deaths; forecast-zone events (most flood, winter and heat) not countedNOAA Storm Events
Homes for sale in ZIP 50266, 2026-09median list price $353,125 (-3.2% on the year); 248 active listings; median 74 days on market; 22% with a price cutRealtor.com Research
Retail trade in the county, 2012 to 20231,594 establishments (+4%); 33,537 jobs (+20%)Census CBP
Housing market in the countytypical home value $279,097 (+0% 1 yr, +19% 5 yr); typical rent $1,220/mo (+2% 1 yr), 2026-09Zillow Research
Traffic on the busiest road within 600 m (2024)106,500 vehicles a day on I 235 W (Interstate); 5,858 trucks; 33 counted segmentsFHWA HPMS

Summary, model-written

Valley West Mall opened as a traditional enclosed mall and has remained operating. In September 2026, the property was foreclosed and sold to Threshold Capital, which plans a $300‑350 million mixed‑use redevelopment including retail, entertainment, and residential components.

Why. The record shows a distressed loan and foreclosure as the primary cause of the sale; no explicit anchor‑tenant loss, competition, or other debt issues are mentioned.

Where it stands. The mall is currently operating and controlled by Threshold Capital following the 2026 foreclosure sale.

For a planner

  • Precedent: foreclosure‑driven sale to a developer with housing‑focused mixed‑use plans mirrors other suburban mall conversions.
  • Policy tools observed: receivership process, foreclosure proceedings, and municipal approval of a large‑scale mixed‑use project.
  • Open questions: timing of entitlements, financing structure for the $300‑350 M plan, and community impact on traffic, schools, and open space.

For a developer

  • Site size: 58 acres.
  • Control: Threshold Capital holds the property after the 2026 sale.
  • Entitlement stage: Planned mixed‑use (retail, entertainment, residential) noted in deal notes; formal approvals not detailed in record.
  • Constraints: No flood, transit, or environmental data provided in the record; thus unknown.
  • Market signals: The opp_score of 15 and listed reasons highlight distressed loan status and large acreage as key attractors.

What we do not know yet

  • Opening date and original anchor tenant mix are not recorded.
  • Current vacancy, tenant sales performance, and exact debt amount before foreclosure are missing.
  • No information on environmental constraints (floodplain, wetlands) or transit access.
  • Entitlement approvals and timelines for the proposed mixed‑use project are unspecified.
  • Data quality is thin (verified draft, single source), so model‑extracted fields may be unverified.

Generated by nvidia/nemotron-3-super-120b-a12b on NVIDIA API via Hermes CT from the fields, parcels, deals and context layers on this page, with no outside knowledge. It is regenerated when the record changes and has not been checked by a person. How it is made.

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Multifamily screen

  • already in play: under construction, approved, or sold to a developer with housing plans
  • 58 acres
  • county grew 4.9% 2018–23
  • distressed loan or foreclosure

Inputs: record fields (size, status) and county Census ACS 2018–2023 figures (growth, rent). How the points work. Not a recommendation.

History and original facts

Acres58.0public reporting
CountyPolk County
Census division4 · West North Central
NotesRecord created from a 2024+ transaction, listing or loan report; no retrofit recorded.

Not yet recorded: GLA, year opened, original developer, what is there now, retrofit year. Know it? Tell us.

Sources

  • Valley West Mall is finally sold · 2026-09-29
    1 quoted sentence
    Threshold Capital, a real estate company based in West Des Moines, completed the $11 million purchase on Monday, CEO Brian Martin tells Axios.

More in Iowa

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