Des Moines Office Figures Q4 2025

The Des Moines office market ended the year with an overall vacancy rate of 15.7%. The CBD submarket finished the year with a vacancy rate of 20.1%. The Western Suburbs submarket closed out the year with a vacancy rate of 13.3%

Overall net absorption was positive 231,152 sq. ft. in 2025. Positive net absorption was concentrated primarily in the Western Suburbs submarket, recording 189,703 sq. ft. YTD, and the CBD submarket, recording 49,842 sq. ft. YTD.

The overall market average asking lease rate was $20.39 per sq. ft. at the end of Q4 2025. The Ankeny submarket recorded the highest rate at $26.48 per sq. ft., while the South submarket posted the lowest rate at $17.00 per sq. ft.

One building is currently under construction at the end of 2025, Community State Banks new four-story, 71,000 sq. ft. headquarters in Ankeny and is slated for completion in spring 2026.