Class A Office and Retail
400 Locust St, Des Moines, IA 50309
For Lease
Contact for pricing
Eight-story Class A building with an open atrium, skywalk access, and office/retail space available in contiguous suites.
Space Size49,279 SF
Days on Market552
Property Features for 400 Locust St
General Information
Standard status
Size
Class
Property subtype
Site & Location
Neighborhood
Amenities
open atrium design
skywalk access
plaza access
five night janitorial services
multiple fiber optic service providers
tenant controlled HVAC
full service building conference center
US Postal Service on site
Ricochet Game Lounge
downtown views
24 hour security on-site
Building Details
Stories
Spaces For Lease
at 400 Locust St
Capital Square For Lease
$10.75/SF/Yr
Floor
6
Size
49,279 SF
Type
OFFICE
Lease Type
NET_NNN
Availability
AVAILABLE, On Available Date
Sublease
No
Capital Square is an eight-story Class A office and retail building in the heart of downtown Des Moines. It’s beautiful open atrium design provides an abundance of natural light, versatile and substantial floor plates, and fantastic downtown views. The building offers multiple access points to the Des Moines Skywalk System and community amenities, and there are street and skywalk level retail opportunities off Walnut and Locust Streets. Adjacently located to and part of Cowles Commons, the building has grade level access to the beautiful newly renovated plaza and all it’s community events. Capital Square’s professional Class A image offers a unique opportunity to a variety of office and retail users in the downtown market.
Highlights
• Opportunities for office space from 1,000
up to 80,000 RSF +/-
• Immediate possession
• Open atrium design provides significant
natural light throughout the building
• Versatile office / retail space for variety of
users and sizes
• Five night janitorial services
• Multiple fiber optic service providers to building
• Tenant controlled HVAC
• Full service building conference center
available to tenants and visitors
• US Postal Service on site
• Ricochet Game Lounge now open on the
first floor
• Beautiful window line and downtown views
• Multiple skywalk access points
• Underground reserved parking 1/4,000
RSF leased
• 24 hour security on-site
• 8 story class building in the heart of
downtown Des Moines
• Tenants responsible for separately
metered lighting and wall socket electric.
Contiguous Suites: 600/620/640 (Avail. 10/1/26)
RSF: 60,803 SF +/-
Net Lease Rate RSF/Year: $10.75
Contact us
Listing Agency:
CBRE
(515) 224-4900
Listed By:
Tyler Dingel · License IA S56502000
(515) 865-2985
Source:
Moodyscre
Added: May 7, 2025
Changed: Oct 26
Last Checked: Nov 8 at 7:49AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of CBRE
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Investment Insights
Based on property information with market context.
Capital Square is an eight-story Class A office and retail building featuring an open atrium design that brings natural light throughout and provides substantial, versatile floor plates. The building offers multiple access points to the Des Moines Skywalk System, with street- and skywalk-level retail opportunities available off Walnut and Locust Streets. Grade level access connects to Cowles Commons and its newly renovated plaza and community events.
Within the office component, contiguous suites 600/620/640 are available, with availability noted for 10/1/26. Tenant-controlled HVAC is in place, and the building provides five night janitorial services. Other building features include a full-service conference center available to tenants and visitors, US Postal Service on-site, and 24-hour security. Underground reserved parking is available with leased allocation described as 1/4,000 RSF. Tenants are responsible for separately metered lighting and wall socket electric, and the building indicates multiple fiber optic service providers.
This offering is supported by RSF information provided for the contiguous suites totaling approximately 60,803 SF (+/-).
Within the office component, contiguous suites 600/620/640 are available, with availability noted for 10/1/26. Tenant-controlled HVAC is in place, and the building provides five night janitorial services. Other building features include a full-service conference center available to tenants and visitors, US Postal Service on-site, and 24-hour security. Underground reserved parking is available with leased allocation described as 1/4,000 RSF. Tenants are responsible for separately metered lighting and wall socket electric, and the building indicates multiple fiber optic service providers.
This offering is supported by RSF information provided for the contiguous suites totaling approximately 60,803 SF (+/-).
Key Highlights
- Opportunities for office space from 1,000 up to 80,000 RSF +/-
- Contiguous suites: 600/620/640 (available 10/1/26) for a total of 60,803 SF +/-
- Open atrium design with significant natural light plus window line and downtown views
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
NNN (Triple Net)
Lease Type
$1.61 /SF/Yr
CAM
Location Intelligence
Trade Area within ½ mile
4,041
Businesses Nearby
Explore this area
Business Placement
Demographics for 50309, IA
9,532
Population
7,562
Households
1.3
Avg Household Size
30
Median Age
67%
College-Educated
96%
High-School Grad
2.7 sq mi
ZIP Area
3,530
Density / Sq Mi
$57,974
Median Household Income
$52,775
Median Earnings
$1,166
Median Rent
$286,900
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Lease Benchmarks for Des Moines, IA
$17.94 /SF/Yr
Avg Asking Price
$16–$20 /SF/Yr
Price Range
24,586 SF
Avg Space Size
This space is priced 40% below the average of $17.94 /SF/Yr.
Average Price Trend$/SF/Yr for Office buildings in Des Moines, IA
Properties on Market for Office buildings in Des Moines
Vacancy Rate% for Office in Des Moines, IA
Frequently Asked Questions
What type of property is this?
Office building - Eight-story Class A building with an open atrium, skywalk access, and office/retail space available in contiguous suites.
Where is this office building located?
The property is located at 400 Locust St Des Moines, IA.
What is the lease rate?
The lease rate is $10.75 SF/Yr.
What are key features of this property?
This property features: Opportunities for office space from 1,000 up to 80,000 RSF +/-; Contiguous suites: 600/620/640 (available 10/1/26) for a total of 60,803 SF +/-; Open atrium design with significant natural light plus window line and downtown views
