How It Works
Corporations seeking to locate at Iowa Research Park may choose from among building sites of varying size and prominence to meet their individual tastes and requirements. Park staff will assist prospective tenants and developers in the site selection process.
Prospective tenants or developers may sign a long-term ground lease (to 2061) with IOWA Research Park Corporation, which manages the park on behalf of the University. The lease provides for optional periods of 19 and 25 years beyond the base term. An advantage is that leased ground on the Park remains publicly owned and not subject to property tax. Buildings and other capital improvements are subject to property tax.
- Prospective Research Park tenants may also work with a private developer who will lease the site and construct a building to suit the tenant.
- A third option is to work with a developer to fit out and lease existing shell space.
- Finally, a business may lease or purchase an existing building or space from private developers or the Research Park, if available.