American Equity Finalizes Move to Downtown Des Moines, Bolstering Central Business District

American Equity Investment Life Insurance Co. Has officially completed a major transition of its corporate headquarters, moving its operations from West Des Moines to the heart of downtown Des Moines. The company, now located at 1150 Locust St., has brought more than 700 employees into the Central Business District, marking a significant milestone in the city’s ongoing efforts to revitalize its urban core.

A Strategic Relocation for Future Growth

The move to the former Nationwide building represents more than just a change of address. According to American Equity CEO Jeff Lorenzen, the decision was driven by a desire to provide a modern, collaborative environment that supports a full-time, in-office culture. The company currently occupies over 200,000 square feet across six floors, featuring updated amenities such as an on-site cafeteria, a coffee shop, and comprehensive exercise facilities.

The new headquarters is designed with scalability in mind. With the capacity to house between 1,200 and 1,300 employees, the facility is prepared to accommodate the company’s projected growth. American Equity has already added or transferred over 100 staff members to the Des Moines market within the last two years, a trend leadership expects to continue.

Impact on the Downtown Des Moines Economy

The arrival of American Equity is viewed as a vital catalyst for downtown economic activity. Following the challenges posed by the COVID-19 pandemic, which saw office vacancy rates climb above 17% in the Central Business District, city officials have been working aggressively to incentivize corporate returns to the city center.

Des Moines Mayor Connie Boesen praised the move, noting that the presence of such a large workforce provides an immediate boost to local businesses and services. The transition aligns with the city’s own recent move to the nearby TM Franklin Cownie City Administration Building, further concentrating government and corporate activity along the Locust Street corridor.

Key Takeaways: A New Chapter for American Equity

• Expanded Footprint: The company now occupies over 200,000 square feet at 1150 Locust St.
• Workforce Integration: Over 700 employees have transitioned to the new location, with additional staff expected to join from West Des Moines by late summer.
• Capacity for Growth: The facility is built to support up to 1,300 employees, signaling long-term commitment to the region.
• Urban Revitalization: The move supports the city’s goal of reducing downtown office vacancies and increasing daily foot traffic in the Central Business District.

Looking Ahead

While the majority of the staff has settled into the new space, final interior renovations—particularly on the third floor—are currently underway. Once completed, these areas will accommodate the remaining employees currently finishing their transition from the former Westown Parkway location.

By investing in a central, amenity-rich environment, American Equity is positioning itself to attract top talent while simultaneously serving as an anchor for the continued resurgence of downtown Des Moines. As the company settles into its new home, the “ripple effect” of its presence is expected to benefit the broader regional economy for years to come.

Frequently Asked Questions

Why did American Equity move from West Des Moines?
The company sought an environment that would support a full-time, in-office experience and provide the necessary infrastructure for projected long-term growth.

How many employees will work at the new downtown headquarters?
The building is designed to accommodate 1,200 to 1,300 employees as the company continues to expand its workforce.

What amenities are included in the new office space?
The renovated facility includes collaborative workspaces, an on-site cafeteria, a coffee shop, dedicated exercise facilities, and covered parking for employees.