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FIGURES I MINNEAPOLIS/ST. PAUL INDUSTRIAL I Q4 2025 <br />Leasing Activity <br />04 leasing activity (inclusive of all sizes) in the Minneapolis/St. Paul market reached nearly <br />2.8M sq. ft., representing a 14.3% increase from the previous quarter. Year-to-date, over 11.3M sq. <br />ft. of lease transactions have been completed, down 14.7% from 2024. The number of deals year- <br />to-date reached 594, up 29.4% from 459 in 2024. <br />Of the leases signed this quarter, 54.4% of the total volume were leases smaller than 50,000 sq. <br />ft. Leasing volume for leases greater than 50,000 sq. ft. accounted for over 1.2M sq. ft. There <br />were three transactions greater than 100,000 sq. ft. completed in 04, contributing 22.3% to the <br />total volume. <br />The average area leased, inclusive of all sizes, in 04 reached over 19.6k sq. ft., a 3.1% increase <br />quarter -over -quarter and a 41.2% decrease year -over -year. The number of leases signed in 04 <br />amounted to 142, an increase from 133 in 04 2024. <br />FIGURE 6: Leasing Activity by Submarket - Leases 50,000 sq. ft. and up <br />East <br />South Central <br />Southwest <br />Midway <br />Northwest <br />Source CBRE Research, 04 2025 <br />65,419 <br />180,405 <br />198,516 <br />FIGURE A Leasing Activity Trend - Leases 50,000 sq. ft. and up <br />Sq. Ft. Millions <br />3.5M <br />3.OM <br />2.5M <br />2.OM <br />1.5M <br />1.0M <br />500K <br />0 <br />Overall . 3-Year Average <br />0:5 ,y3 Orb , ' Oryb O,yb O,i O,yi of O�5 <br />``5 ti `L ti `ti <br />O�L O^ & 00 & O1 OT' O0 Off' O^ & O0 & <br />Source: CBRE Research, 042025 <br />FIGURE 8: Key Lease Transactions <br />F-.�*,14889g5� Transaction Type <br />Estes Transportation 186,174 Renewal 2228 Territorial Rd Midway <br />APEX International MFG 140,400 New Lease 7070 Cretex Ave E Southwest <br />TE Connectivity 100,384 Renewal 5905 Trenton Ln N Northwest <br />Computershare 95,573 Renewal 1021-1049 10th Ave S Midway <br />PHS West 91,163 New Lease 10585 County Road 101 Northwest <br />409,027 TriMark Hockenbergs 85,925 Renewal 13098 George Weber Dr Northwest <br />8ergari Solutions 78,045 New Lease 147th Street South Central <br />421,990 Total Export 74,883 New Lease 3101 E Hennepin Ave Midway <br />Process Displays Co. 72731 New Lease 7101-7109 N 3tst Ave Northwest <br />Source CBRE Research, 04 2025 <br />4 CBRE RESEARCH © 2025 CBRE, INC. <br />