As 2020 started, the commercial real estate market in Des Moines was strong, with deal velocity rising, vacancies falling and rents soaring. Then the pandemic hit, and that all came to a halt.
Participants in Tuesday’s State of the Market event, held virtually because of the pandemic, were quick to point to that strong start of the year when explaining why Des Moines was poised to recover quickly once life returns to a state of at least semi-normalcy.
“We are still bullish on Des Moines,” said Kris Saddoris, vice president of development with Hubbell Realty Company. “Our fundamentals haven’t changed because of the pandemic. All the things we have put in place are still here. We are poised to come of this very, very strong. We haven’t had widespread devastation here. Yes, the economy has been pushed down. But all the pieces that make Des Moines a strong economy are still there.”
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