2022 Office Space Rent & Sales
- $24.70 2022 Avg. Asking Rent
- 12.09% 2022 Office Vacancy Rate
- $22.4M2022 Total Office Sales
- $117.54Avg. Sale Price/SF
Des Moines office price per square foot in 2022 was $24.70 on average. The local office market recorded an average vacancy rate of 12.09% across all asset classes combined. The 5 transactions that closed here throughout 2022 amounted to a total sale volume of $22.4M. Des Moines office space commanded an average sale price per square foot of $117.54.
Average Rent by Office Class
2022 Average Office Rent per Square Foot
- Des Moines Class A & A+ Office Space$30.27
- Des Moines Class B Office Space$22.87
- Iowa Class A & A+ Office Space$28.75
- Iowa Class B Office Space$20.94
- Iowa Class C Office Space$19.65
Des Moines, IA Office Asking Rents by Class
2022 Office Vacancy Rates in Des Moines
Submarket | Asking Rents | Vacancy Rates |
---|---|---|
Downtown | $25.14 | 13.67% |
East Village | $23.26 | 20.52% |
West Des Moines | $21.42 | 23.87% |
Northwest | $20.47 | 1.76% |
Des Moines Office Sale Price per SF
- $117.542022 Avg. Price per SF
- $22.4M2022 Office Sales Volume
- 52022 Number of Transactions
Des Moines, IA Sale Price per SF Trend
- Des Moines Avg. Sale Price per SF in 2022$117.54
- Iowa Avg. Sale Price per SF in 2022$163.82
2022 Office Sales Volume
- Des Moines, IA Total Office Sales Volume in 2022 $22.4M
- Des Moines, IA Total Number of Office Sales Closed in 2022 5
Largest Des Moines Office Sales in 2022
Property name | Address | Date | Price |
---|---|---|---|
301 Grand Avenue & 506 3rd Street | 301 Grand Avenue | 4/13/2022 | $7,100,000 |
106 East 6th Street | 106 East 6th Street | 4/11/2022 | $5,400,000 |
95 University Avenue | 95 University Avenue | 7/18/2022 | $3,000,000 |
5901 Thornton Avenue | 5901 Thornton Avenue | 5/12/2022 | $2,600,000 |
Coworking Spaces in Iowa
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2022 Office Construction in Des Moines, IA
Office building | Address | SF | Completed |
---|---|---|---|
604 Locust Street | 604 Locust Street, 50309 | 153,932 | 2017 |
Locust Plaza | 1420 Locust Street, 50309 | 34,646 | 2015 |
Davis Brown Tower | 215 10th Street, 50309 | 432,630 | 2007 |
430 East Grand Avenue | 430 East Grand Avenue, 50309 | 51,456 | 2004 |
Gateway East Building | 601 East Locust Street, 50309 | 30,920 | 2002 |
300 East Locust Street | 300 East Locust Street, 50309 | 44,394 | 2001 |
Airport Commerce Park West - 6200 Park Avenue | 6200 Park Avenue, 50321 | 138,978 | 2000 |
1700 Dixon Street | 1700 Dixon Street, 50316 | 71,705 | 1999 |
909 Locust Street | 909 Locust Street, 50309 | 225,654 | 1996 |
801 Grand Avenue | 801 Grand Avenue, 50309 | 878,582 | 1990 |
Worth noting among recent office completions on the Des Moines market is 604 Locust Street, which is currently the largest new office development in the city, at 153,932 square feet.
See reports for other markets
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- West Des Moines Office Rent Price
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This market stats report is based on analysis of city-level data that includes office properties equal to or larger than 25,000 square feet in size. Averages were calculated based on values dated January 1st 2022 through December 31st 2022. Construction pipeline data represented herein is valid as of April 2023. The information on this page was compiled using data provided by CommercialEdge, a market intelligence solution which offers comprehensive real market knowledge on all Des Moines commercial properties sized 25,000 square feet or larger.
While every effort was made to ensure the accuracy of the data presented in this report, the information is provided “as is” and neither CommercialCafe nor CommercialEdge can guarantee that the information provided is complete.