In the first quarter, 16.2%, or 2.8 million square feet, of office space was vacant. The vacancy rate was slightly higher than 2020’s fourth quarter rate of 14.7%. In the first quarter of 2020, the vacancy rate was 13.2%. The 2021 first quarter vacancy rate in the central business district, with more than 6.3 million square feet of office space, was 17.4%. Urbandale, with 1.8 million square feet of office space, had an 18% vacancy rate. The Des Moines area has 17.4 million square feet of rental office space.
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See a full list of CBRE's Q1 2021 Market Surveys HERE.