The amount of vacant office space in the Greater Des Moines area was 11.9% in 2022’s fourth quarter, according to a report issued by JLL Inc., a global commercial real estate services company with an office in Des Moines.

The central business district, with an office vacancy rate of 13%, will see more vacant space in 2023, according to the report.

In December, MidAmercan Energy Co. announced it would buy Dotdash Meredith’s north building at 1615 Locust St. The purchase, which is expected to be finalized this spring, means MidAmerican will vacate the four floors it occupies in the Ruan Center at 666 Grand Ave. The company has leased space in the office tower since 1975.

Also this year, the federal courthouse is leaving its space at 110 E. Court Ave. and moving into a new building at 110 Locust St.

The two moves will add 167,000 square feet of vacant office space to the market, the report said.

Highlights from the quarter include:

• Well Fargo’s vacating of about 139,000 square feet of space at 6200 Park Ave. in Des Moines. The building is one of nine in the market with over 50,000 square feet of continuous space available for lease, according to the report. Five of the buildings are in the downtown area.
• New office space under construction totaled just over 296,000 square feet. Four of the seven projects under construction are in the western suburbs for owner-users.
• The average direct asking rent for the quarter was $20.73 per square foot.

To read the report, click here.