With a couple of exceptions, the forecast for Greater Des Moines commercial real estate looks much the same this year as it did for last, judging by CBRE|Hubbell Commercial’s annual market report.

For 22 years, the brokerage has provided a sweeping look at the market, from rental rates to emerging trends. The report takes it all in: industrial, multifamily, office, retail. A separate report deals with the investment market.

In 2019, the gist of it all is that we still have too many apartments, retail is challenged, industrial properties — awash though we are in new construction — remain hot. Not much has changed in those sectors.

The office sector is facing headwinds from a range of forces. Companies are having difficulty finding workers in a time of low unemployment, and occupied space is going dark in deference to the construction of new corporate campuses and moves to renovated spaces.

“A lack of available employment could have employers beginning to question a need for additional office space,” according to the report.

On the investment side, the influx of foreign investors in commercial real estate markets on the coasts is pushing domestic dollars inland. A quick glance of the top deals in multifamily, for example, finds investors from Chicago, Milwaukee and New York.

Continue reading for a breakdown of the multifamily, office, retail and investment sectors.
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