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FIGURES I MINNEAPOLIS OFFICE I Q32024 <br />Office Sales <br />In Minneapolis, Office sales volume totaled nearly $105 million in the third quarter of 2024, bringing <br />the rolling 4-quarter sales volume to approximately $524 million. Quarterly volume represents an 14% <br />decrease quarter -over -quarter and a 64% decrease year -over -year. <br />Suburban transactions continue to dominate office sales volume, representing 92% of the total <br />market volume for the quarter. The trend of suburban sales volume outpacing downtown volume has <br />been consistent in the Minneapolis market for the past several years. Since 2020, suburban office <br />transactions have represented over 81% of the total sales volume. <br />In Q3, Investment sale transactions accounted for over 95% of the total sales volume while owner <br />user transactions represented just 5%. Of the top Office sales transacted this quarter, CBRE <br />participated in the sale marketing of Forum 900 & 920. <br />FIGURE 11: Notable Minneapolis Office Sales, 03 2024 <br />Property <br />Location Buyer Sale Price Size Price Per <br />(Sq. Ft.) Sq. Ft. CO <br />FIGURE 12: CBD vs. Suburban Office Sales Volume, 2020 - 032024 <br />Volume($) • CBD Volume • Suburban Volume <br />600M <br />500M <br />400M <br />300M <br />200M <br />100M _.iiiiiiiIII.:.i11 <br />0 <br />I <br />Q2 <br />Q3 04 Q1 Q2 03 Q4 Q1 Q2 Q3 Q4 Q1 Q2 03 Q4 Q1 Q2 Q3 <br />2020 2021 2022 2023 2024 <br />Source: Real Capital Anal ytice Costar, CBRE Research, 032024 <br />FIGURE 13: Investment vs. Owner User Sales Volume,2019-03 2024 <br />Volume Investment Owner/User % Owner User <br />SOOM — 50% <br />Wells Fargo Plaza Bloomington Prime Finance Partners $40M 458,702 87 450M 45% <br />400M 40% <br />Waterford Office Park Plymouth Northpath Investments $23.25 479,288 49 350M ' 1 1 35% <br />Eagandale Corporate 300M _ f� 30% <br />Center Eagan Inventure Real Estate $15.1M 140,813 107 <br />250M 25% <br />Bay View Office Excelsior The Tailwind Group $12.5M 17,100 731 200M i <br />Iuufl!I <br />20% <br />150M 15% <br />1300 Corporate Center Eagan MAG Capital Partners $8.25M 44,298 186 100M I ,V <br />I'i' <br />10% <br />Roseville West Roseville Local Investor Syndicate $7.35M 88,644 8350M 0 -�' I I 1 1 , �' 1 �0% <br />Forum 900 & 920 Minneapolis Namdar Realty Group $6.5M 633,691 10 01 02 03 04 01 02 03 04 01 02 03 04 01 02 03 04 01 02 Q3 <br />2020 2021 2022 2023 2024 <br />Sourer CBRE Research, 032024 Source Real Coital Analytic=_, Costar, CBRE Rosearch, 032024 <br />© 2024 CBRE, INC. <br />CBRE RESEARCH <br />