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The acquisition of land in West Des Moines for the United States headquarters of London-based Aviva was finalized recently. Aviva is the fifth-largest insurance group in the world based on gross worldwide premiums as of 12/31/06.
Aviva US is ranked #1 in sales of "indexed life insurance," which appears to be one of the new code words for whole life policies.
The new facility will house Aviva's 360,000 square foot office building and corporate campus. It will be located on the southwest corner of the intersection of Jordan Creek Parkway and Mills Civic Parkway. That makes the new facility situated about 2.5 miles west of my company's headquarters lavish headquarters, which are slightly smaller than Aviva's proposed construction.
Des Moines continues to be a major headquarters for the insurance industry, and this is further evidence.
Wonder if there was a Section 1031 exchange involved in acquiring the land? I'm pretty sure there was one involved for the seller of the land...
Ken Tharp
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