At the close of 2020’s fourth quarter, 14.7% of competitive office space in the Greater Des Moines area was vacant, according to CBRE|Hubbell’s quarterly survey.
That’s up more than 2 percentage points from a year ago when the vacancy rate was 12.4%.
The survey showed that more than 1.3 million square feet of vacant office space was located in the western suburbs and that there was more than 1 million square feet of vacant office space in Des Moines’ central business district.
In addition, the competitive office market experienced 400,389 square feet of negative net absorption in 2020, according to the survey.
Read the full article at the Business Record here.
Read the latest CBRE| Hubbell Market Outlook Surveys here.