Laserfiche WebLink
IIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIII II <br />MARKETVI EW <br />II II)I1IIl1',1 <br />Minneapolis/St. Paul, Q4 2020 <br />Industrial Market <br />Shifting to Overdrive <br />IIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIII <br />Vacancy Rate <br />4.7% <br />Net Asking Rate <br />$6.52 per sq. ft. <br />I HIM% I(HIIHy I'nli' <br />Net Absorption Sq. Ft. (MSF) <br />8 <br />7 <br />6 <br />5 <br />4 <br />3 <br />2 <br />0 <br />(1) <br />,ul <br />111111111111111111111111111111111111111111 <br />Under Construction <br />1.5 million sq. ft. <br />Net Absorption <br />1,152,769 sq. ft. <br />Vacancy Rate <br />8 <br />6 <br />(4) <br />2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 <br />01 11111111111111111111 Q2 111111111111111111111111110 Q3 111111111111111111111111111111111111111 Q4 — Total Annual Net Absorption (L) ^°°°°°°°°°°°°°°°°°°° Vacancy Rate (R) <br />Source: CBRE Research, Q4 2020. <br />• Absorption of 1.15 million sq. ft. <br />continued the strong recovery that began <br />in Q3 <br />• Transaction activity increased 69% over <br />Q3, and vacancy remained low at 4.7% <br />• Investment sales indicated continued <br />interest in the wide variety of industrial <br />assets the Minneapolis market offers <br />MARKET OVERVIEW <br />The Minneapolis/St. Paul industrial market <br />continued to gain strength to finish 2020, with <br />leasing activity up 69%, in Q4 versus the prior <br />quarter. Completions of build -to -suits combined <br />with strong lease -up of speculative space resulted <br />in absorption of nearly 1.2 million sq. ft., and the <br />investment market continued to attract new <br />capital to Minneapolis/St. Paul. <br />1 Ib;l,lii <br />