Des Moines Industrial Figures Q4 2025

The Des Moines industrial market ended the year with an overall vacancy rate of 8.6%. The Western Suburbs submarket finished the year with the highest vacancy rate at 12.3%.

Overall net absorption was positive 242,782 sq. ft. in 2025. Positive net absorption was concentrated primarily in the Northeast submarket, recording 560,644 sq. ft. year-to-date, and the South submarket, recording 197,691 sq. ft. year-to-date.

Industrial leasing activity increased quarter-over-quarter, totaling 731,649 sq. ft in Q4. The Northeast and South submarkets recorded the greatest amount of leased space, with 506k SF and 100k SF taken down, respectively.

The overall market average asking lease rate was $6.52 at the end of Q4 2025. Distribution/Logistics property types closed the quarter with an asking rate of $5.52 while R&D/Flex property types closed at $9.67.