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CBRE
<br />MARKETVIEW MINNEAPOLIS/ST. PAUL RETAIL
<br />Figure 5: Minneapolis/St. Paul Retail Market Statistics
<br />Submarket
<br />Rentable Area
<br />(Sq. Ft.)
<br />Dired Average Net Q1 Net YTD Net
<br />Vacancy Asking Rate Absorption Absorption
<br />Rate(%) ($/Sq. Ft./Yr) (Sq. Ft.) (Sq. Ft.)
<br />Active Construction
<br />(Sq. Ft.)
<br />A.V. — Lakeville
<br />3,499,383
<br />6.1
<br />20.65
<br />3,155
<br />3,155
<br />122,000
<br />Brookdale
<br />3,510,557 14.6 15.70 (24,210) (24,210)
<br />Burnsville
<br />3,549,950 4.4 26.08 111,877 111,877
<br />Calhoun
<br />1,258,636 9.2 29.04 (7,758) (7,758) 55,707
<br />Coon Rapids
<br />4,168,306 2.5 8.01 (103,376) (103,376)
<br />Eagan
<br />2,960,668 6.3 10.90 (11,528) (11,528)
<br />Eden Prairie
<br />3,794,209 10.6 17.16 9,162 9,162
<br />Maple Grove
<br />5,425,652 3.0 20.51 (8,395) (8,395) 150,000
<br />Maplewood
<br />3,563,352 4.7 18.63 3,860 3,860 20,600
<br />Minneapolis CBD
<br />2,238,390 14.4 25.68 (331,014) (331,014)
<br />Northtown
<br />3,063,899 17.0 7.58 (15,964) (15,964) 48,500
<br />Ridgedale
<br />5,502,483 3.2 14.23 (2,018) (2,018)
<br />Rosedale
<br />5,316,025 9.4 15.69 (12,676) (12,676) 71,665
<br />Southdale
<br />6,848,416 4.4 19.91 (12,676) (12,676)
<br />St. Paul Highlands
<br />1,413,147 4.4 16.52 25,741 25,741
<br />West St. Paul
<br />1,305,502 10.5
<br />13.91
<br />7,095
<br />7,095
<br />Woodbury
<br />4,821,267
<br />9.5
<br />13.72
<br />(12,170)
<br />(12,170)
<br />259,921
<br />Total (Metro)
<br />62,239,842 8.1 16.75 (380,765) (308,765) 679,893
<br />Source: CBRE Research, Ql 2017.
<br />* Note: In Q1 2017, the Mall of America was removed from the tracked set.
<br />SUNDAY FUNDAY: MINNESOTA
<br />APPROVES SUNDAY WINE AND SPIRIT
<br />SALES
<br />Ending a decades old ban, a March
<br />legislative decision abolished the ban on
<br />Sunday liquor sales in the State of
<br />Minnesota. Begiiiilh� in July, retailers
<br />will be allowed to open for business on
<br />Sundays for the first time since
<br />Prohibition. Years in the making, this
<br />repeal opens the door to boost retail sales
<br />instead of losing out to neighboring
<br />states that allowed for Sunday sales.
<br />Figure 6: Wine and Spirit Sale Image
<br />Source: CBRE Research, Q1 2017.
<br />Q1 2017 CBRE Research 02017 CBRE, Inc. I 4
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