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CBRE
<br />MARKETVIEW MINNEAPOLIS/ST. PAUL INDUSTRIAL
<br />Figure 6: Minneapolis/St. Paul Industrial Market Statistics
<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 />(S/Sq. Ft./Yr)
<br />Q1 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 />Bulk Warehouse
<br />Office Warehouse
<br />Office Showroom
<br />331,043,253 5.2
<br />68,625,570 6.2
<br />143,460,418 5.3
<br />36,829,793 9.7
<br />5.57 633,840
<br />t 4.60 817,111
<br />4.77 57,046
<br />l 7.58** 67,171
<br />j 633,840 415,224 2,409,000
<br />t 817,111 96,000 122,400
<br />57,046 289,000 1,278,000
<br />67,171 30,224 25,000
<br />Northwest 66,604,472 7.4 t 395,237 j 398,237
<br />Bulk Warehouse 17,649,468 11.4 t 4.73 460,188 t 460,188
<br />Office Warehouse 30,864,825 5.8 t 5.02 120,356 t 120,356
<br />Office Showroom 7,889,871 12.2 t 7.40** 22,693 l 22,693
<br />215,000
<br />Southwest 70,620,599 5.3 t 6.01 j 308,878 30,224 1,533,000
<br />Bulk Warehouse 13,535,774 5.0 t 5.22 275,713 l 275,713 - 1,278,000
<br />Office Warehouse 32,031,600 5.5 j 4.73 72,357 l 72,357 - 80,000
<br />Office Showroom 13,535,774 9.1 l 7.65** (39,192) t (39,192) 30,224 25,000
<br />South Central j _ j 127 022 399,000
<br />Bulk Warehouse 11,694,183 3.9 t 4.73 l - 96,000
<br />Office Warehouse 23,882,082 4.7 4.47 (37,230) 4. (37,230) - 399,000
<br />Office Showroom 7,148,740 8.7 l 8.05** 41,357 t 41,357 - -
<br />St. Paul
<br />Bulk Warehouse 2,850,253 4.3
<br />Office Warehouse 6,063,398 3.7
<br />Office Showroom 1,317,721 6.6
<br />t
<br />t
<br />t
<br />(25,500)
<br />3.06 - -, -
<br />4.94 (25,500) 4. (25,500)
<br />8.12** - -
<br />Minneapolis t 5.44
<br />Bulk Warehouse 2,275,964 5.3 3.88
<br />Office Warehouse 11,558,231 6.5 t 5.32
<br />Office Showroom 182,266 18.6 t 7.25**
<br />t
<br />t
<br />North Central l 5.55 143,475 t 143,475 100,000 50,000
<br />Bulk Warehouse 10,723,371 3.4 l 4.49 66,245 t 66,245 Office Warehouse 23,460,767 5.0 t 4.78 59,105 t 59,105 100,000 50,000
<br />Office Showroom 5,218,344 9.5 t 7.31 ** 18,125 t 18,125 - -
<br />East 14,878,681 3.0 l '8.78 (8,000) t (8,000) - 212,000
<br />Bulk Warehouse 2,470,518 1.1 j 4.50 - - -
<br />Office Warehouse 5,614,857 3.4 l 5.05 - t - - 212,000
<br />Office Showroom 1,500,977 9.4 t 7.78** - t - -
<br />Midway 32,653,009 5.8 t 5.54 219,3/7) l (219,377) 189,000
<br />Bulk Warehouse 7,426,039 6.3 t 4.32 14,965 t 14,965 -
<br />Office Warehouse 9,984,658 6.4 l 4.15 (132,042) l (132,042) 189,000
<br />Office Showroom 735,279 7.2 t 7.03** 24,188 t 24,188 -
<br />Source: CBRE Research, Q1 2016.
<br />Single Tenant& Multi Tenant. ** Represents a blended rote of50% offce and 50% warehouse. Total Vacancy Rote May Not Add Ilp Due To Rounding.
<br />Q1 2016 CBRE Research © 2016 CBRE, Inc. I 5
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