Des Moines Industrial Figures Q2 2026

By Q2 2026, the market posted 982,000 sq. ft. of net absorption, bringing vacancy down to 7.5% and availability to 8.0%. This demand was accommodated alongside 257,000 sq. ft. of new deliveries across three properties and 937,000 sq. ft. under construction in 14 projects. Average asking rent in Q2 2026 was $6.62, with vacancy still elevated relative to the sub‑5.0% readings seen through late 2023.  

Quarter-over-quarter, vacancy fell from 8.6% to 7.5%, a negative 110 basis point move, as net absorption increased by 805,000 sq. ft. Availability declined from 8.4% to 8.0%, a negative 40 basis point change, while the average asking rate decreased 2.1% from $6.76. Year-over-year, vacancy and availability are up 30 and 40 basis points, respectively, versus Q2 2025, with net absorption down 67,000 sq. ft. from 1.0 million sq. ft. and asking rents 2.9% lower. 

Under-construction volume has more than doubled year-over-year, rising from 461,000 sq. ft. across eight projects to 937,000 sq. ft. across 14.