Des Moines, IA Commercial Real Estate

Des Moines has quietly established itself as one of the strongest small-market commercial real estate stories in the Midwest, driven by a remarkable concentration of insurance and financial services companies that provide high-quality employment and stable tenant demand. The metro is home to Principal Financial Group, EMC Insurance, Nationwide's financial services operations, Wells Fargo's mortgage servicing center, and numerous other insurance and financial companies that give Des Moines the highest concentration of insurance industry employment per capita in the nation.

Downtown Des Moines has undergone a significant transformation anchored by the Western Gateway Park, the Pappajohn Sculpture Park, and the development of the East Village neighborhood with restaurants, boutiques, and apartments. The Waukee/West Des Moines corridor along I-80 and I-35 has become the premier suburban growth area, attracting corporate campuses (Principal, Microsoft data centers), retail development, and master-planned residential communities. Jordan Creek Town Center in West Des Moines serves as the metro's dominant regional retail destination.

The industrial market benefits from Des Moines' central Iowa location along I-80 and I-35, providing distribution access to the Upper Midwest. Data center development has become a significant demand driver, with Microsoft, Meta, and Google investing billions in hyperscale data center campuses in the metro. Iowa's abundant and affordable electrical power, favorable tax environment, and cool climate make it attractive for data-intensive computing operations. Multifamily development has been active in the urban core and in West Des Moines/Waukee, supported by strong employment growth.