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Office vacancy rates remain at 11.8 percent across Des Moines (as of Q1 2016), with developers remaining cautious when it comes to spec construction.
Following two years of positive net absorption, the office market took a step back in Q1 to post negative absorption numbers (YTD 2016).
In total, only 12 percent of space being built has been preleased. That includes 71,000 square feet of competitive space being built in Ankeny, Urbandale and West Des Moines.
Among all Des Moines submarkets, we found that North ($13.01) and South ($11.50) still offer tenants the best value per square foot—even with vacancy rates below 5 percent in each.
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