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CBRE
<br />MARKETVI EW MINNEAPOLIS/ST. PAUL INDUSTRIAL
<br />Figure 9: Minneapolis/St. Paul Submarket Map
<br />Submarket
<br />Rentable
<br />Area
<br />(Sq. Ft.)
<br />Total
<br />Vacancy
<br />Rate (%)
<br />Y -o -Y
<br />Vacancy
<br />Trend
<br />Average Net
<br />Asking Rate
<br />($/Sq. Ft./Yr)
<br />Q2 Net
<br />Absorption
<br />(Sq. Ft.)
<br />Y -o -Y Net
<br />Absorption
<br />Trend
<br />YTD Net
<br />Absorption
<br />(Sq. Ft.)
<br />Under Construction
<br />(Sq. Ft.)
<br />Spec BTS
<br />Metro Overall
<br />331,642,774
<br />5.0
<br />5.11
<br />1,319,678
<br />t
<br />2,177,977 1,505,764 1,300,200
<br />Bulk Warehouse 68,105,656 4.8
<br />4.31 1,136,362
<br />t
<br />1,942,649 742,000
<br />Office Warehouse 141,016,517 4.7 -, 4.99 (12,342)
<br />73,703 733,540 363,600
<br />Office Showroom 36,445,020 8.9 t 7.03** 191,415 4. 4,078 30,224
<br />Northwest 64,458,225 5.6
<br />t
<br />5.59 191,115 t 690,904 1,475,540 295,600
<br />Bulk Warehouse 16,694,406 7.2 t 4.86 176,012 t 556,276 742,000
<br />Office Warehouse 29,733,640 5.0 j 5.37 (1,795) 4. (27,342) 733,540 195,600
<br />Office Showroom 7,829,871 9.2 t 6.94** 30,698 l 69,710 -
<br />Southwest
<br />Bulk Warehouse
<br />70, 742, 779
<br />5.9 t 5.56 965,017 t 1,323,793 30,224 216,000
<br />13,270,774 4.2 j 3.88 858,506 t 1,174,529 - 216,000
<br />Office Warehouse 31,675,450 5.6 t 5.24 (104,331) 4. 68,263
<br />Office Showroom 13,134,095 11.1 t 7.10** 131,469 4. (52,372) 30,224
<br />South Central 51,402,167 5.0 l 5.02 173,693 t 239,326
<br />Bulk Warehouse 11,478,071 2.9 j 3.87 60,152 t 170,152
<br />504,600
<br />Office Warehouse 23,673,082 5.4 l 5.23 70,419 t 44,398
<br />93,600
<br />Office Showroom 6,893,998 8.2 -, 5.17** 43,122 t 27,113
<br />St. Paul 17,575,197 3.8
<br />4.02 35,985 t 103,711
<br />Bulk Warehouse 3,934,253 3.1 j 4.11 22,963 t 22,963
<br />Office Warehouse 5,866,398 3.3 -, 4.89 (10,275) t 47,325
<br />Office Showroom 1,194,488 5.2 4. 6.06** 13,297 t 13,297
<br />Minneapolis 29,305,990 1.9 l 5.43 (129,482) 4. (247,543)
<br />Bulk Warehouse 2,145,464 6.1 l 3.73 (37,956) 4. (37,956)
<br />Office Warehouse 11,544,075 2.6 l 4.21 4,263 t (98,368)
<br />Office Showroom 158,266 0 j - (20,221) j (20,221)
<br />North Central 49,900,348 4.3 j 5.30 7,837 j 36,699
<br />Bulk Warehouse 10,786,596 6.0 t 5.24 (20,378) 4. (20,378)
<br />Office Warehouse 22,855,393 3.9 l 4.82 28,165 t (3,519)
<br />42,000
<br />42,000
<br />Office Showroom 4,815,769 5.9 4. 6.98** 50 t 538
<br />East
<br />Bulk Warehouse
<br />14,745,735 3.5 t 5.30 1,212 t (61,025)
<br />2,374,518 1.7 t 5.24 - -, -
<br />242,000
<br />Office Warehouse 5,619,911 5.0 j 4.82 1,212 t (14,705)
<br />66,000
<br />Office Showroom 1,500,977 7.6 t 6.98** - -, (26,987)
<br />Midway 33,512,333 3.8 j 4.75 74,301 t 92,112
<br />Bulk Warehouse 7,421,574 3.4 , 4.50 77,063 t 77,063
<br />Office Warehouse 10,048,568 4.8 j 4.93 - t 57,651
<br />Office Showroom 917,556 5.4 4. 7.22** (7,000) t (7,000)
<br />Source: CBRE Research, Q2 2015.
<br />'Single Tenant B Multi Tenant. "Represents a blended rate of50% office and 50% warehouse. Total Vacancy Rate May Not Add Up Due To Rounding.
<br />Q2 2015 CBRE Research © 2015 CBRE, Inc. 1 6
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