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FIGURES I MINNEAPOLIS INDUSTRIAL 1032024 <br />Market Area Overview <br />NORTHWEST <br />SOUTHWEST <br />iisz) <br />1 <br />Contact <br />Maggie Parra <br />Research Manager <br />CBRE I Minneapolis/St Paul <br />maggie parra@cbrecom <br />Will Crooks <br />Field Research Analyst <br />CBRE I Capital Markets <br />will crooks@cbrecom <br />SOUTH CENTRAL <br />try <br />Definitions <br />• Building Area The total floor area Sq Ft of the building, typically taken at the "drip line" of the building <br />• Occupied Sq Ft Building Area not considered vacant. <br />• Net Absorption The change in Occupied Sq Ft from QQnP,/prim <br />• Available Sq. Ft• Space in a building, ready for occup9icy et m NTP1 (MN, , can be occupied or vacant. <br />• Total Availability Rate. Available Sq. Ft (includes direct and sublease space) divided by the total Building Area. <br />• Direct Availability Rate: Available Sq Ft (excluding sublease space) divided by the total Building Area <br />• Vacant Sq Ft Space that can be occupied within 30 days <br />• Total Vacancy Rate: Vacant Sq Ft divided by the total Building Area. <br />• Direct Vacancy Rate Vacant Sq. Ft divided by the total Building Area where subtenant space is excluded. <br />• Average Asking Lease Rate: A calculated average that includes net and gross lease rate, weighted by their <br />corresponding available square footage <br />• Warehouse Rate. A calculated average of the lowest marketed value asking rate representing warehouse space. <br />• Office Rate: A calculated average of the highest marketed value asking rate representing office space. <br />• Net -Blended Rate A calculated average of the warehouse asking rate blended with the office asking rate <br />• Gross Activity All sale and lease transactions completed within a specified time period. <br />Survey Criteria <br />Includes all industrial buildings 10,000 sq ft. and greater In size in the Minneapolis/St Paul market Buildings which <br />have begun construction as evidenced by site excavation or foundation work. <br />© Copyright 2024 All rights reserved. Information contained herein, including protections, has been obtained from sources believed to be reliable, but has not been verified for accuracy or completeness. CBRE, Inc. makes no guarantee, warranty or <br />representation about it. Any reliance on such information is solely at your own risk. This information is exclusively for use by CORE clients and professionals and may not be reproduced without the prior written permission of CBRE's Global Chief Economist. <br />CBRE <br />