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<br />FIGURES I MINNEAPOLIS OFFICE 1032024
<br />FIGURE 14: Minneapolis/St. Paul Office Market Statistics, 032024 (cont. from previous page)
<br />Submarket
<br />Multi -Tenant and Single -
<br />MT Renatble MT Direct Avg Gross 03 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 />BEA 3,280,510 16.3% .I,
<br />A 1,786,620 22.3% '1'
<br />B 1,364,878 9.7% .I,
<br />C 129,012 3.0% .I,
<br />Midway 2,819,217 13.9% .I,
<br />A 603,984 12.5% '1'
<br />B 1,749,019 15.2% .I,
<br />C 466,214 10.9% .I,
<br />Northeast 2,507,500 8.9% .I,
<br />A 465,813 10.5% .I,
<br />B 1,902,061 6.7% '1'
<br />C 139,626 33.6% '1'
<br />Northwest 1,374,588 22.5% 4,
<br />A 244,850 13.5% '1'
<br />B 851,663 25.9% 4,
<br />C 278,075 20.2% 4,
<br />St. Paul CBD 5,862,675 32.8% 'r
<br />A 2,634,128 18.7% '1'
<br />B 2,848,538 48.8% '1'
<br />C 380,009 10.9% '1'
<br />Suburban St. Paul 4,790,496 25.7% 4,
<br />A 2,054,070 22.3% 4,
<br />B 1,955,178 22.2% '1'
<br />C 781,248 43.2% .I,
<br />Source. CB RE Research, Q3 2024.
<br />CBRE RESEARCH
<br />$25.83 .I, (19,569) is (41,370)
<br />$27.25 .I, (4,722) is (33,806)
<br />$23.08 .I, (17,469) is (7,894)
<br />$21.91 .I, 2,622 is 330
<br />$23.65 .I, (30,807) .I, (22,007)
<br />$25.48 .I, 0 - 340
<br />$24.18 .I, (16,926) .I, (2,110)
<br />$18.65 .I, (13,881) .I, (20,237)
<br />$27.10 is 5,429 is (1,562)
<br />$27.60 is (4,558) .I, 12,299
<br />$28.14 is 8,870 is (8,717)
<br />$22.52 is 1,117 is (5,144)
<br />$22.91 is 2,508 .I, 8,686
<br />$27.31 is (9,299) .I, (10,618)
<br />$23.01 is 11,807 is 20,321
<br />$19.79 is 0 .I, (1,017)
<br />$24.34 is (134,009) .I, (169,311)
<br />$26.71 .I, 5,369 is 10,407
<br />$22.72 .I, (139,982) .I, (179,186)
<br />$31.84 is 604 .I, (532)
<br />$22.99 is 41,443 is 88,753
<br />$25.54 is 19,496 is 44,238
<br />$23.77 is 25,450 is 45,117
<br />$19.29 .I, (3,503) .I, (602)
<br />9,260,615
<br />7,089,426
<br />1,468,153
<br />703,036
<br />3,089,664
<br />841,484
<br />1,749,019
<br />499,161
<br />3,057,654
<br />465,813
<br />2,452,215
<br />139,626
<br />3,212,614
<br />1,895,981
<br />1,038,558
<br />278,075
<br />8,729,562
<br />3,189,128
<br />5,160,425
<br />380,009
<br />8,450,011
<br />3,826,558
<br />3,520,509
<br />1,102,944
<br />6.2%
<br />5.9
<br />9.0%
<br />3.1
<br />15.0%
<br />17.3%
<br />15.2
<br />10.2%
<br />7.3%
<br />10.5
<br />52%
<br />33.6
<br />9.6
<br />1.7%
<br />21.2
<br />20.2
<br />22.4
<br />15.5
<br />27.6
<br />10.9
<br />14.6
<br />12.0
<br />12.4
<br />30.6
<br />© 2024 CBRE, INC.
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