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FIGURES I MINNEAPOLIS OFFICE 1 032022 <br /> FIGURE 11: Historical Leasing Velocity by Class <br /> SF 000's <br /> Leasing Velocity 1,400 <br /> In the Minneapolis market,03 leasing activity fell to 300,000 sq.ft.compared to a high of 1,200 <br /> 524,000 sq.ft.the previous quarter.This 43%decrease is the lowest quarterly leasing velocity the 1,000 <br /> office market has seen since early in the pandemic.The majority of activity in 03 was focused <br /> primarily in the 394 market,which posted 141,000 sq.ft.of leases signed. 800 <br /> Renewals represented nearly 60% of total leasing volume in 03 with new leases accounting for 600 <br /> 40%.Among the most notable deals, Minnesota Medical Scanning Corp renewed for nearly 67k at 400 <br /> Park Place East in the 394 submarket.Several new leases were signed for spaces above 20,000 <br /> sq.ft.,demonstrating that tenants are continuing to stay active in the market amid the affects of 200 <br /> hybrid and work-from-home operations. <br /> 0 <br /> 03 04 01 02 03 04 01 02 03 04 01 02 Q3 <br /> FIGURE 9:Lease Transaction Types FIGURE 10:Lease Activity by Submarket 2019 2019 2020 2020 2020 2020 2021 2021 2021 2021 2022 2022 2022 <br /> ■Class A ■Class B ■Class C <br /> Source:CBRE Research,Q3 2022. <br /> FIGURE 12:Key Transactions <br /> w, <br /> Transaction Type Size(SF) Tenant <br /> W90 <br /> Renewal 66,911 MN Medical Scanning Corp Park Place East 394 <br /> New Lease 33,100 GSA Norman Pointe II 494 <br /> New Lease 27,478 Workbox 121 S 81h St Minneapolis CBD <br /> ■394 ■494 <br /> ■New Lease ■Renewal ■Expansion ■MPLS CBD North Loop New Lease 22,060 Physician Reliance Maple Grove Specialty Center Northwest <br /> ■Northeast ■Suburban St. Paul <br /> Source:CBRE Research,03 2022. Source:CBRE Research,03 2022. Source:CBRE Research,Q3 2022. <br /> 4 CBRE RESEARCH ©2022 CBRE,INC. <br />