Empty office and industrial spaces in Greater Des Moines are gaining tenants, with vacancies down in both categories, according to separate reports on the commercial real estate market. Retail is experiencing a moderate decline.
Two national companies with a shared history use different approaches to gathering the information. CoStar Group Inc. has operated in Greater Des Moines since the start of the year. Tyler Brady, who has worked for R&R Realty Group and CBRE|Hubbell Commercial, is the local account executive. Xceligent Inc., which broke into its own company after CoStar acquired real estate listing and information service LoopNet in 2012, has had a presence in Greater Des Moines for the last five years.
CoStar relies on a team of researchers to confirm and compile the details of real estate transactions. Xceligent enlists local commercial real estate experts in the industrial, office and retail markets to vet the details.
What their reports show is continuing improvement in the Greater Des Moines market in the office and industrial segments, with retail lagging, due in large part last quarter to the closing of American TV in Johnston. Read a related story about retail sales at BusinessRecord.com.
Read the CoStar reports on industrial, office and retail.
The Xceligent report is available here.