DES MOINES, IA—Xceligent has released its industrial, office and retail market reports for Des Moines, IA, for the second quarter of 2014.
- The Des Moines Industrial market has experienced 800,000 SF of positive absorption in the past year. Over 130,000 SF of positive absorption occurred in the second quarter (2014).
- All four submarkets experienced positive absorption for the quarter. The west submarket had the most with 42,646 SF absorbed followed closely by the south submarket which had 41,852 SF.
- The office market experienced 69,530 SF of absorption for the quarter. Class A properties had the majority of the absorption with 60,000 SF.
- The vacancy rate for the entire metro decreased from 15.3% (Q1 2014) to 14.9% (Q2 2014). Over the past year the vacancy rate has dropped from 16.5% (Q2 2013) to 14.9% (Q2 2014).
- The Des Moines retail market has experienced 225,000 SF of positive absorption in the past year. Over 82,600 SF of positive absorption occurred in the second quarter (2014).
- The overall market vacancy rate is now 5.9%, with the lowest vacancy rates in the Southwest submarket at 3.7% and the highest vacancy rate in the Central Business District at 10.3%.
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