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CBRE MARKETVI EW P. O0 0 u' >II I0I0Ii 0''010
<br />1I1i11111i'rl', (Jr. t Po d Ill lU'dI'Inl 1Ilinl'I i'I `'Inll",I I(
<br />Submarket
<br />Northwest
<br />Southwest
<br />North Central
<br />South Central
<br />Midway
<br />Minneapolis
<br />East
<br />Rentable
<br />Area
<br />(Sq. Ft.)
<br />Total
<br />Availability
<br />Rate (%)
<br />Direct
<br />Vacancy
<br />Rate (%)
<br />73,192,779 8.1 6.2
<br />70,098,257 7.9 5.9
<br />52,260,634 5.9 4.2
<br />51,876,425 6.9 5.1
<br />31,079,601 5.1 3.6
<br />26,057,788 3.2 1.8
<br />19,385,147 5.0 2.9
<br />St. Paul 16,501,056 3.5 3.1
<br />Source: CBRE Research, Q4 2020.
<br />'Single Tenant B Multi Tenant. Total Vacancy Rate May Not Add Up Due To Rounding.
<br />Il IIIw'1 If'I''II''II11lillllli'n11111' 11111 I ill I IIIIl it
<br />Average
<br />Warehouse
<br />Net Asking
<br />Rate (S/Sq.
<br />Ft./Yr)
<br />Submarket
<br />Southwest
<br />Northwest
<br />South Central
<br />North Central
<br />Midway
<br />Minneapolis
<br />St. Paul
<br />East
<br />onstruction
<br />Starts
<br />(Sq. Ft.)
<br />750,000
<br />Starts
<br />• released
<br />(%)
<br />Under
<br />Consirudion
<br />Spec Sq. FL)
<br />IICI'I' ;1(1
<br />130,100
<br />100.0 62,000
<br />137,500 100.0
<br />Source: CBRE Research, Q4 2020.
<br />4.87
<br />verage Office
<br />Nat Asking
<br />Rate ($/Sq.
<br />Ft./Yr)
<br />verage
<br />Net
<br />Blended
<br />king Rate
<br />Ft./Yr
<br />Q4 Net
<br />Absorption
<br />(Sq. Ft.)
<br />2020 YTD
<br />Net
<br />Absorption
<br />(Sq. Ft.)
<br />i Ii,;�(I Iildl
<br />9.64 6.67 391,536 642,845
<br />5.31 9.71 6.71 75,677 (559,923)
<br />5.17 9.56 6.86 (92,349) 436,268
<br />5.12
<br />4.74
<br />9.52 6.34 147,809 422,520
<br />8.43 5.85 245,701 945,885
<br />4.50 12.27 4.80 (87,101) (136,570)
<br />5.24
<br />4.87
<br />Under
<br />Construction
<br />(BTS Sq. Ft.)
<br />130,000
<br />298,000
<br />786,000
<br />137,500
<br />9.80 6.23 460,496 864,990
<br />9.63 5.86 11,000 317,535
<br />Under
<br />Construction
<br />Total (Sq. Ft.)
<br />260,100
<br />298,000
<br />848,000
<br />Spec
<br />Completed
<br />(Sq. Ft.)
<br />204,120
<br />355,920
<br />BTS
<br />Comp eted
<br />(Sq. Ft.)
<br />156,000
<br />80,000
<br />424,000
<br />Construction
<br />ompleted Total
<br />(Sq. Ft.)
<br />360,120
<br />435,920
<br />424,000
<br />(r.ip °•; (III 00: 03 II'0',IIC',„
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