Q3-2022 Office Market Update
The Mpls-St Paul office market, consisting of 130 msf of space in seven counties across the metro saw (341,300) sf negative absorption for Q3 2022 and shows an overall vacancy rate of 15.9% for all properties. This quarter shows (198,600) sf of direct negative absorption while subleases accounted for (145,000) sf negative absorption. Multi-tenant only properties posted 20.8% vacancy with (221,800) sf negative absorption during Q3 2022 of which (79,000) sf negative absorption was for direct space and (145,000) sf negative absorption was for subleases. During Q3 2022 there were 15 construction projects throughout the market totaling just shy of 1.0 msf. Ten properties have been delivered YTD with 810,000 sf.
MPLS-ST. PAUL AREA EMPLOYMENT STATS:
Office Advisory Experts
LAKESIDE CENTER | 4,820 SF For Lease3033 Excelsior Blvd | Minneapolis, MN 55416 Lakeside Center is a 5-story, 186,322 SF Class A office building adjacent to Bde Maka Ska on the west edge of Uptown. Amazing views are offered at this Minneapolis property. It connects to...
Q4-2021 Minneapolis-St. Paul Office Market ReportMARKET RECAP: All Properties: Total Inventory: 129,388,269 sf Total # of Buildings: 1,028 Absorption: 692,907 sf Vacancy: 15% Asking Rate: $25.34 (full service gross) New Construction: 1,280,278 sf Multi-tenant...
Q4-2021 Minneapolis-St.Paul Industrial Market ReportMARKET RECAP: All Properties: Total Inventory: 267,363,719 sf Total # of Buildings: 3,078 Absorption: 2,581,249 sf Vacancy: 3.6% Asking Rate Low: $6.51 NNN Asking Rate High: $10.09 NNN Under Construction: 5,063,038...