|
6
<br />FIGURES MINNEAPOLIS OFFICE I Q32024
<br />Market Summary Statistics
<br />9GURE 14: Minneapolis/St. Paul Office Market Statistics, 03 2024
<br />Submarket
<br />Multi -Tenant and Single -
<br />MT Renatble MT Direct Avg Gross Q3 Net Y-o-Y Quarterly 2024 YTD Net Tenant Combined Stats
<br />Y-o-Y Vacancy Y-o-Y Asking
<br />Area Vacancy Asking Ls Absorption Absorption Absorption
<br />(Sq. Ft.) Rate Trend Rate Rate Trend (Sq. Ft.) Trend (Sq. Ft.) MT & ST Rentable MT & ST
<br />Area (Sq. Ft.) Vacancy
<br />Rate
<br />77,653,818 23.9% 1` $29.03 1` (301,601) 1` (881,497)
<br />39,160,462 22.0% 1` $32.51 1` (111,817) 1` (587,722)
<br />31,689,349 27.0% 1` $26.51 4, (206,585) 1` (302,824)
<br />6,804,007 21.0% 4, $22.43 1` 16,801 1` 9,049
<br />22,636,832 26.7% 1` $31.95 1` (131,277) 1, (384,525)
<br />14,243,494 22.4% 1` $34.81 1` (171,421) 4, (344,629)
<br />6,897,604 36.3% 1` $28.96 1` 7,408 4, (71,416)
<br />1,495,734 23.8% 1` $24.01 1` 32,736 1` 31,520
<br />4,548,263 27.0% 1` $29.68 4, 59,020 1` 91,352
<br />1,249,775 25.8% 1` $45.89 1` 72,403 1` 128,479
<br />2,244,628 31.7% 1` $28.52 1` (8,182) 1` (40,919)
<br />1,053,860 18.3% 4, $24.23 1` (5,201) 4, 3,792
<br />12,182,184 17.9% 1` $28.54 1` (37,566) 4, (199,657)
<br />6,198,940 18.8% 4, $32.10 1` 5,817 1` (184,393)
<br />4,935,192 18.3% 1` $26.35 1` (29,817) 1, 10,507
<br />1,048,052 10.3% 1` $21.96 1` (13,566) 1, (25,771)
<br />17,651,553 25.6% 1` $29.84 1` (56,773) 4, (251,856)
<br />9,678,788 25.2% 1` $32.94 1` (24,902) 4, (210,039)
<br />6,940,588 26.7% 1` $26.31 1` (47,744) 4, (68,527)
<br />C 1,032,177 22.9% 1` $23.40 1` 15,873 1` 26,710
<br />Source. CB RE Research, Q3 2024.
<br />CBRE RESEARCH
<br />Metro Overall
<br />A
<br />B
<br />C
<br />Minneapolis CBD
<br />A
<br />B
<br />C
<br />North Loop
<br />A
<br />B
<br />C
<br />394
<br />A
<br />B
<br />C
<br />494
<br />A
<br />B
<br />101,903,902
<br />52,964,705
<br />40,926,136
<br />8,013,061
<br />26,326,306
<br />16,595,029
<br />8,235,543
<br />1,495,734
<br />7,696,490
<br />3,068,520
<br />3,574,110
<br />1,053,860
<br />13,247,322
<br />6,313,978
<br />5,885,292
<br />1,048,052
<br />18,833,664
<br />9,678,788
<br />7,842,312
<br />1,312,564
<br />18.8%
<br />16.4%
<br />22.0%
<br />18.1%
<br />24.5%
<br />19.2%
<br />35.3%
<br />23.8%
<br />15.9%
<br />10.5%
<br />19.9%
<br />18.3
<br />16.4%
<br />18.4%
<br />15.4%
<br />10.3%
<br />24.2%
<br />25.2%
<br />23.9%
<br />18.0%
<br />© 2024 CBRE, INC.
<br />
|