Des Moines Office Figures Q2 2026

By Q2 2026 the market reflects sustained strengthening in occupancy metrics, despite a moderation in recent leasing velocity. Net absorption measured 86,000 sq. ft. in Q2 2026, down 71.2% quarter-over-quarter from 299,000 sq. ft. in Q1, but bringing year‑to‑date absorption to 385,000 sq. ft., up year‑over‑year from 16,000 sq. ft. in Q2 2025. 

The vacancy rate edged down quarter‑over‑quarter from 13.8% to 13.6%, a negative 20 basis points move, and has tightened year‑over‑year from 16.4% in Q2 2025, a 280 basis points reduction. Availability followed a similar pattern, improving quarter‑over‑quarter from 15.8% to 15.3%, and down from 15.8% year‑over‑year.  

Pricing has moved materially higher alongside this tightening. The average asking rate rose quarter‑over‑quarter from $20.54 per sq. ft. to $20.66 per sq. ft., a 0.6% increase. 

One newly constructed office property delivered to the market in Q2 2026. However, there are currently no new office properties under construction in the Des Moines market.