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CBRE
<br />MARKETVIEW MINNEAPOLIS/ST. PAUL RETAIL
<br />Figure 7: Minneapolis/St. Paul Retail Market Statistics
<br />Submarket
<br />Market Rentable
<br />Area
<br />(Sq. Ft.)
<br />Direct Vacancy
<br />Rate
<br />(%)
<br />Average Net 2018 Net 2019 Net
<br />Asking Rate Absorption Absorption
<br />($/Sq. Ft./Yr) (Sq. Ft.) (Sq. Ft.)
<br />Active Construction
<br />(Sq. Ft.)
<br />A.V. - Lakeville 3,324,839
<br />5.1
<br />17.53
<br />42,962
<br />(8,000)
<br />Brookdale 3,221,670 8.3 13.21 (47,940) 8,723
<br />Burnsville 3,809,332 7.5 15.73 11,513 78,776
<br />Calhoun 1,007,123 9.7 27.68 (4,806) 9,638
<br />Coon Rapids 4,227,534 7.9 11.13 (22,410) (9,274)
<br />Eagan
<br />2,733,503 5.9 15.29 (32,204) 2,182
<br />Eden Prairie 4,281,737 3.3 19.01 15,933 11,596 250,000
<br />Maple Grove 5,320,552 2.8 21.73 (22,499) 50,478
<br />Maplewood 3,576,649 12.3 16.30 41,047 (49,052)
<br />Minneapolis CBD 1,508,659 9.5 25.90 (715) 60,809
<br />Northtown 3,195,598 12.3 17.12 145,806 237 66,800
<br />Ridgedale 6,498,415 4.8 26.96 212,345 28,929
<br />Rosedale 6,027,439 8.9 20.03 55,803 60,588
<br />Southdale 7,592,792 10.0 23.48 297,710 404,711 46,000
<br />St. Paul Highlands 1,069,093 26.8 18.06 (102,633) (77,749)
<br />West St. Paul 1,186,174 21.8 13.22 46,578 8,149
<br />Woodbury 5,242,927 4.3 17.45 99,208 14,747
<br />64,036,412
<br />Note: tracked base includes only buildings (retail or multi -use with retail component) greater than 30,000 sq. ft.
<br />Source: CBRE Research, H2 2019.
<br />H2 2019 CBRE Research © 2020 CBRE, Inc. I 4
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