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FIGURES I MINNEAPOLIS INDUSTRIAL 1032021 <br />Market Area Overview <br />NORTHWEST <br />rg <br />SOUTHWEST <br />(212) <br />MIDWA <br />P/A EAPOLIS-S('AUL <br />�. ,/L`LD-CHAt bERLA. <br />SOUTH CENTRAL <br />sz � <br />Contact <br />Dan Askew <br />Associate Director, Field Research <br />+1 216 363 6464 <br />dan.askew@cbre.com <br />Alida Markgraf <br />Research Data Analyst <br />+1 612 336 4291 <br />alida.markgraf@cbre.com <br />Definitions <br />Available Sq. Ft.: Space in a building, ready for occupancy within six months; can be occupied or vacant. Availability <br />Rate: Total Available Sq. Ft. divided by the total building Area. Average Asking Lease Rate: A calculated average that <br />includes net and gross lease rate, weighted by their corresponding available square footage. Building Area: The total <br />floor area sq. ft. of the building, typically taken at the "drip line" of the building. Gross Activity: All sale and lease <br />transactions completed within a specified time period. Excludes investment sale transactions. Gross Lease Rate: <br />Rent typically includes real property taxes, building insurance, and major maintenance. Net Absorption: The change <br />in Occupied Sq. Ft. from one period to the next. Net Lease Rate: Rent excludes one or more of the "net" costs (real <br />property taxes, building insurance, and major maintenance) typically included in a Gross Lease Rate. Occupied Sq. <br />Ft.: Building Area not considered vacant. Vacancy Rate: Total Vacant Sq. Ft. divided by the total Building Area. <br />Vacant Sq. Ft: Space that can be occupied within 30 days. <br />Survey Criteria <br />Includes all industrial buildings 10,000 sq. ft. and greater in size in the Minneapolis/St. Paul market. Buildings which <br />have begun construction as evidenced by site excavation or foundation work. <br />© Copyright 2021. All rights reserved. The views and opinions in these articles belong to the author and do not necessarily represent the views and opinions of CBRE. Our employees are obliged not to make any defamatory clauses, infringe or authorize <br />infringement of any legal rights. Therefore, the company will not be responsible for or be liable for any damages or other liabilities arising from such statements included in the articles. <br />CBRE <br />