Market Survey Released
CBRE | Hubbell Commercial has released its annual market survey, and the results look good for the greater Des Moines area real estate market. The survey suggests the greater Des Moines area should see up to two more years of continued growth across many market segments and many regions of the greater Des Moines area. Another trend suggests apartment rental rates will continue to rise, possibly by 5-10%. But don’t expect a big rise in office rents or new speculative office space, as that area of the market is still well supplied.
More About The Survey
The CBRE market survey divides the greater Des Moines area into the following regions:
Central Business District (CBD) – Includes the Western CBD and the East Village, extending west to Martin Luther King Jr. Parkway and east to East 14th Street.
Western Suburbs – Encompasses West Des Moines, Clive, Urbandale, Windsor Heights, Johnston, Grimes, Waukee, and some unincorporated areas of Polk, Dallas, and Warren Counties.
Northwest – Includes Northwest Des Moines and Western Saylor Township.
Northeast – Consists of Northeast Des Moines (extended south to the Des Moines River), Pleasant Hill, Altoona, Eastern Saylor Township, and Delaware Township.
South – Comprises Southwest Des Moines, Southeast Des Moines (south of Des Moines River), and some unincorporated areas of Polk and Warren Counties.
Ankeny – Evaluated separately.
From the CBRE website:
This market survey includes office, flex, industrial, and retail space analysis. The office market analysis consists of the entire market and a competitive subset in Classes A, B, and C. Following the office analysis is the flex market review. Industrial space consists of warehouse and manufacturing categories separated by age groups. Retail space consists of regional malls, neighborhood and community centers, and big box retail. Property type analysis is separated by geographic market area within the Greater Des Moines metropolitan area. CBRE|Hubbell Commercial and Frandson & Associates have been conducting this survey since 1997. The 2016 Market Survey contains information collected during the first quarters of 2014, 2015, and 2016.
We thank the owners, managers, and brokers throughout the Greater Des Moines area for the cooperation we received in compiling this survey. For additional information about this survey and about the Greater Des Moines metropolitan market, please contact CBRE|Hubbell Commercial at (515) 224-4900.
See full site here.