West Des Moines, Iowa – Kyle Gamble has been appointed president and chief executive officer of Hubbell Realty Co., succeeding Rick Tollakson, who retired on March 27th after a four-decade career with the firm. The move marks a significant leadership transition for one of the Midwest’s largest and most established real estate companies, as it approaches its 170th year in business. Gamble’s appointment reflects a strategic continuity, having spent nearly three decades within Hubbell Realty, most recently as president and chief operating officer in 2025.
The leadership change comes at a pivotal moment for the real estate sector, navigating evolving market dynamics and increasing demand for diversified housing and commercial spaces. Hubbell Realty, with a footprint spanning Iowa, Nebraska, and South Dakota, is positioned to continue its growth trajectory under Gamble’s direction. The company’s extensive portfolio encompasses development, construction, homebuilding, and property management, serving a broad range of clients and communities.
Gamble’s career with Hubbell Realty began in 1994. He spent 18 years as managing director of CBRE|Hubbell Commercial, leading teams focused on office, retail, industrial, and multifamily properties. This experience provided him with a deep understanding of the commercial real estate landscape and a proven track record of success. He later transitioned into executive leadership roles within Hubbell Realty, overseeing strategic direction for 16 business units, including property management, development, and construction. His responsibilities have increasingly centered on aligning company performance with long-term growth objectives and fostering a consistent culture across the organization.
A Legacy of Development and a Smooth Transition
Tollakson’s retirement concludes a 42-year tenure with Hubbell Realty, including the last 22 years as CEO. During his leadership, Tollakson oversaw the development of several landmark projects that reshaped the Des Moines skyline and surrounding areas. These include Kaleidoscope at The Hub, Hub Tower, Riverpoint Business Park, Lakeview Medical Park, the Bridge District, and Gray’s Station. These developments have not only contributed to the economic vitality of the region but have also develop into integral parts of the community fabric.
“Hubbell, our associates, and the community are in good hands with Kyle,” Tollakson said in a company press release. “His extensive market experience, balanced leadership, and deep understanding of the Iowa and Midwest real estate markets position him well to guide the company’s next chapter.” The transition appears designed to be seamless, with Gamble already deeply embedded in the company’s operations and strategic planning.
Expanding Footprint and Diversified Services
Hubbell Realty’s growth over the years has been marked by strategic expansion and diversification. The company now operates across three states – Iowa, Nebraska, and South Dakota – and employs nearly 500 people. Its 16 divisions cater to a wide spectrum of real estate needs, from residential homebuilding to large-scale commercial developments. This diversified approach has allowed Hubbell Realty to weather economic fluctuations and capitalize on emerging opportunities.
The company’s commitment to property management is also a significant component of its business. Hubbell manages a substantial portfolio of properties, providing comprehensive services to owners and tenants. This includes leasing, maintenance, and financial reporting. The integration of property management with its development and construction arms allows Hubbell Realty to offer a full-service solution to its clients.
Looking Ahead: 170 Years and Beyond
As Hubbell Realty prepares to celebrate its 170th anniversary on April 21st, the company is focused on building upon its legacy of innovation and community engagement. Gamble, in a prepared statement, emphasized the firm’s ongoing commitment to its customers, shareholders, and associates. “I’m honored to step into this role for one of the longest-standing real estate companies in Iowa,” he said. “As Hubbell celebrates 170 years of business, our commitment remains firm to our customers, shareholders and associates to deliver the best-in-class real estate services possible.”
The company’s future strategy is expected to focus on sustainable development practices, technological advancements, and continued expansion into modern markets. Hubbell Realty is also likely to prioritize initiatives that address the evolving needs of the communities it serves, such as affordable housing and mixed-use developments. The next major milestone for the company will be the celebration of its sesquicentennial anniversary, providing an opportunity to reflect on its past achievements and outline its vision for the future.
What are your thoughts on the changing landscape of real estate in the Midwest? Share your comments below, and feel free to share this article with your network.
