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FIGURES I MINNEAPOLIS INDUSTRIAL 1032021
<br />FIGURE 10: Minneapolis/St. Paul Industrial Market Statistics
<br />Submarket
<br />Rentable Average Warehouse Average Average Q3 2021 Net
<br />Area Total Direct Net Asking Rate Office Net Net Blended Absorption
<br />Availability Vacancy Asking Rate Asking Rate
<br />(Sq. Ft.) Rate (%) Rate (%) ($/Sq. Ft./Yr) ($/Sq. ($/Sq. (Sq. Ft.)
<br />Ft./Yr) Ft./Yr)
<br />2021 YTD
<br />Net
<br />Absorption
<br />(Sq. Ft.)
<br />Metro Overall 343,780,326 6.0% 4.2%
<br />Northwest 74,789,405 7.1% 5.1%
<br />Southwest 70,471,080 6.9% 5.1%
<br />North Central 53,165,857 5.4% 3.7%
<br />South Central 52,725,403 6.4% 4.5%
<br />Midway 31,291,663 5.0% 3.4%
<br />Minneapolis 25,626,879 3.3% 2.0%
<br />East 19,480,469 5.5% 3.2%
<br />St. Paul 16,229,570 5.2% 4.0%
<br />Source: CBRE Research, 03 2021.
<br />FIGURE 11: Minneapolis/St. Paul Industrial Construction Statistics
<br />$5.06 $9.51 $6.53 1,987,303 4,610,516
<br />$4.85 $9.60 $6.92 439,128 1,423,903
<br />$5.31 $9.56 $6.38 644,393 881,663
<br />$5.38 $9.67 $6.93 40,753 831,680
<br />$5.08 $9.49 $6.30 742,539 1,270,053
<br />$4.55 $8.76 $6.45 (92,725) (20,601)
<br />$4.37 $10.77 $5.53 35,440 8,868
<br />$5.34 $9.38 $6.19 177,775 123,093
<br />$5.02 $9.16 $5.47 0 91,857
<br />Submarket
<br />Construction Starts Spec Under BTS Under Total Under Spec BTS Construction
<br />Starts Preleased Construction Construction Construction Com.leted Com.leted Com.leted
<br />Metro Overall 947,624 19 3,760,666
<br />Southwest 301,000 806,952
<br />Northwest 394,224 - 1,637,224
<br />South Central 140,400 100 549,250
<br />North Central 112,000 36 646,240
<br />Midway - -
<br />Minneapolis -
<br />St Paul
<br />1,354,936
<br />5,115,602
<br />806,952
<br />1,174,536 2,811,760
<br />140,400 689,650
<br />40,000 686,240
<br />- 1,024,500
<br />75,000
<br />1,024,500
<br />75,000
<br />812,000 812,000
<br />East - 121,000 - 121,000 137,500 137,500
<br />Source: CBRE Research, 03 2021.
<br />5 CBRE RESEARCH
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