They have a great indoor track, an on-site XC course and a nice outdoor track. Campus seemed nice enough.
I can't speak to the school's academics though.
Waverly IA is in the middle of nowhere, and you'll have to be OK with that. Des Moines is about 2.5 hours away and Minneapolis is 3 hours away. You really need to research and talk to current students about their internship opportunities. Internships are what get you a good first job out of school, not what you learned in Marketing 302. If the school doesn't have a good enough program to get students internships, then find another school.
To be perfectly honest though, don't put running first. Running shouldn't be in your top 5 criteria for finding a school, unless you're getting a scholarship (which you aren't going DIII). Internship Availability, Academics, Campus/Location, Student Life (commuter school vs traditional school), and overall cost should all come before you go to a college just to run.
This is coming from someone who went to a small DIII school and half chose it because they wanted to run on the team. Turned out 2 years into it that I would have been better off at a bigger school running on a club team. Not saying my experience was bad, just that I found that running isn't an end all to life and that spending $120k for 4 years so I could run on a team vs $60k at a state school.... I would have rather had that $60k back in my pocket.