Within the latest period of time, the area in and around the city was a titleholder, being considered one of the most desirable spots to live, establish and run a business and even the best place to retire. Meanwhile, the business environment, economy, and commercial property stock continue to stay steady and reliable. As office rental costs in Des Moines continue to rise by 2% annually in brand-new, quality buildings, the majority of leaseholders are implementing capital improvement plans regarding the refurbishment of their assets in order to propose facility packages that the renters demand. Such a refreshment brought a significant amount of office space to Des Moines, from non-competitive or single-tenant dwellings. Office facilities in Des Moines do influence tenants’ decisions regarding the choice of the venue. Lots of large occupiers are moving from the formerly leased spaces to built-to-suit premises and new developments. Currently, corporate campus developments like IMT Insurance, Holmes Murphy, Kum&Go, etc. have or will have released workspace for new renters wishing to locate in the city. One of the significant challenges that the landlords have faced is to convert ample office spaces in Des Moines into the ones that can suit tenants requiring less than 10 thousand square feet of workspace. Despite the increase in the available large suites, it still may be challenging to find an appropriate Class A suite in the region to accommodate small and medium-sized businesses.
