Des Moines Retail Figures Q3 2025

Overall net absorption posted positive 25,637 sq. ft. for Q3 2025, bringing the year-to-date total for 2025 to 145,136 sq. ft.

Vacancy rates remained flat at 4.0% quarter-over-quarter. The South submarket posted the highest vacancy rate at 12.4%, followed by the Northwest submarket at 5.9%. The Northeast (1.7%) and CBD (2.3%) submarkets posted the markets lowest vacancy rates.

Retail investment sales volume recorded a strong Q3, totaling just over $50 million, bringing the year-to-date total for 2025 to just over $90 million.

The overall market average asking lease rate remained unchanged quarter-over-quarter at $17.50 per sq. ft. Overall asking lease rates have increased 4.3% year-over-year ($16.77 per sq. ft. to $17.50 per sq. ft.).