MARKET INSIGHT POST
Q3-2023 Minneapolis-St. Paul Industrial Market Update

- Two significant areas to watch are the East Metro (Woodbury, Lake Elmo) area where over 1.2M square feet of spec construction has come online and with little absorption of any of the new space. Cottage Grove as an untested multi-tenant market with over 1M square feet of new development and, to date, very little absorption mirrors the East Metro.
Q3-2023 Minneapolis-St. Paul Industrial Market Update
MARKET RECAP:
ECONOMIC OVERVIEW:
MPLS-ST. PAUL AREA EMPLOYMENT STATS:

MARKET OVERVIEW:
MARKET HIGHLIGHTS:
MARKET STATISTICS BY PROPERTY TYPE
Multi and Single Tenant:


VACANCY RATES BY MARKET
Multi and Single Tenant:


LEASE RATES BY MARKET
Multi and Single Tenant NNN:


MARKET STATISTICS BY PROPERTY TYPE
Multi Tenant:


NEW DEVELOPMENTS BY MARKET:

YEAR-TO-DATE DELIVERIES BY MARKET:

Market Insight
Industrial Market Experts






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