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FIGURES I MINNEAPOLIS OFFICE I Q3 2021
<br />FIGURE 9: Minneapolis/St. Paul Office Market Statistics, 03 2021 (cont. from previous page)
<br />Submarket
<br />Rentable Area
<br />(Sq. Ft.)
<br />Average
<br />Total Y-o-Y Net Asking Y-o-Y
<br />Vacancy Vacancy Rate Asking Rate
<br />Rate Trend (Sq. Ft./Yr) Trend
<br />03 Net Y-o-Y Net
<br />Absorption Absorption
<br />(Sq. Ft.) Trend
<br />YTD Net
<br />Absorption (Sq.
<br />Ft.)
<br />Multi -Tenant Under
<br />Construction (Sq. Ft.)
<br />Multi -Tenant & Single -Tenant
<br />Combined Stats
<br />Rentable Area
<br />(Sq. Ft.)
<br />Vacancy Rat:
<br />Midway
<br />Class A
<br />Class B
<br />Class C
<br />Northeast
<br />Class A
<br />Class B
<br />Class C
<br />BEA
<br />Class A
<br />Class B
<br />Class C
<br />Northwest
<br />Class A
<br />Class B
<br />Class C
<br />St. Paul CBD
<br />Class A
<br />Class B
<br />Class C
<br />Suburban St. Paul
<br />Class A
<br />Class B
<br />Class C
<br />2,534,180 15.7%
<br />603,984 23.5%
<br />1,531,962 14.4%
<br />398,234 8.7%
<br />2,526,556 14.3%
<br />465,813 24.0%
<br />1,921,117 11.4%
<br />139,626 23.1%
<br />3,220,915 33.1%
<br />1,382,727 31.2%
<br />1,709,176 36.2%
<br />129,012 12.9%
<br />1,390,088 22.6%
<br />244,850 13.8%
<br />867,163 20.9%
<br />278,075 35.7%
<br />6,244,576 23.9%
<br />2,685,792 18.6%
<br />3,249,791 27.9%
<br />308,993 28.9%
<br />4,863,145 19.9%
<br />2,120,799 23.2%
<br />1,956,199 16.2%
<br />786,147 20.5%
<br />$15.32
<br />$15.46
<br />$15.70
<br />$12.86
<br />$14.00
<br />$15.18
<br />$14.82
<br />$8.38
<br />$12.77
<br />$14.04
<br />$12.57
<br />$11.13
<br />$12.69
<br />$13.13
<br />$13.05
<br />$11.00
<br />$12.56
<br />$13.72
<br />$11.58
<br />$16.72
<br />$11.39
<br />$14.01
<br />$9.19
<br />$12.08
<br />53,807
<br />0
<br />3,181
<br />50,626
<br />27,451
<br />25,415
<br />2,036
<br />0
<br />0
<br />0
<br />0
<br />0
<br />0
<br />0
<br />0
<br />0
<br />13,469
<br />13,469
<br />0
<br />0
<br />(73,251)
<br />(1,098)
<br />(72,153)
<br />0
<br />T
<br />89,279
<br />0
<br />40,360
<br />48,919
<br />(132,062)
<br />(2,790)
<br />(129,272)
<br />0
<br />(193,355)
<br />(3,421)
<br />(189,934)
<br />0 -
<br />(7,043)
<br />1,144 -
<br />629 -
<br />(8,816) -
<br />13,448
<br />8,389 -
<br />5,667 -
<br />(608) -
<br />(30,903) 80,000
<br />34,958 80,000
<br />(61,828) -
<br />(4,033) -
<br />3,803,522 10.4%
<br />603,984 23.5%
<br />2,325,917 9.5%
<br />873,621 4.0%
<br />2,811,710 12.9%
<br />465,813 24.0%
<br />2,206,271 9.9%
<br />139,626 23.1%
<br />4,644,213 23.0%
<br />1,885,765 22.9%
<br />2,629,436 23.5%
<br />129,012 12.9%
<br />2,538,219 12.4%
<br />1,245,981 2.7%
<br />1,014,163 17.9%
<br />278,075 35.7%
<br />9,640,480 15.5%
<br />3,240,792 15.5%
<br />6,090,695 14.9%
<br />308,993 28.9%
<br />7,522,660 12.9%
<br />3,893,287 12.6%
<br />2,521,530 12.6%
<br />1,107,843 14.6%
<br />6 CBRE RESEARCH © 2021 CBRE, INC.
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