The amount of vacant competitive office space in the Greater Des Moines area is growing, sparking concerns that recession-era vacancy levels are on the horizon.
In the second quarter of 2020, the vacancy rate for competitive office space was 13.6% with 2.37 million square feet of space available, according to CBRE|Hubbell Commercial’s quarterly Des Moines-area survey. At the end of 2019, the vacancy rate was 12.4% with 2.1 million square feet of unoccupied space, the company’s quarterly report showed.
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