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FIGURES I MINNEAPOLIS/ST. PAUL OFFICE I Q42025 <br />Leasing Activity <br />In 04, Minneapolis/St Paul transacted over 1.1M sq. ft. of leasing activity, inclusive of all sizes. <br />This represents a 21.5% decrease from the previous quarter and a 13.1% decrease year -over - <br />year. Leasing volume year-to-date, inclusive of all sizes, exceeds 5.1M sq. ft., the second highest <br />leasing activity in the last seven years. <br />Of the total lease volume the quarter, 46% were leases in the mid -size range between 10k-50k <br />sq. ft (inclusive of all sizes) . Leases less than 10k sq. ft. contributed 83.5% to the 04 total <br />number of leases signed, also inclusive of all sizes. Minneapolis CBD had the highest amount of <br />sq. ft. transacted, with 85% contributing to leases signed at Class A properties. <br />The average area leased was 6,467 sq. ft. in 04, an increase of 6.6% quarter -over -quarter, as <br />well as an increase of 20% year -over -year, inclusive of all sizes. For leases over 10,000 sq. ft., the <br />Minneapolis/St. Paul market transacted 3.1M sq. ft., with the Minneapolis CBD contributing the <br />highest amount. at 1.07M sq. ft. <br />FIGURE 6: Leasing by Submarket -10,000 sq. ft. and up <br />North Loop ' 10,641 <br />Suburban St. Paul ' 12,043 <br />BEA ' 13,000 <br />394 ' 13,918 <br />Midway 36,232 <br />St. Paul CBD 42,273 <br />494 <br />Minneapolis CBD <br />Source CORE Research, 042025 <br />4 CBRE RESEARCH <br />245,010 <br />393,832 <br />FIGURE 6: Leasing Activity Trend - 10,000 sq. ft. and up <br />1.4M <br />12M <br />1.0M <br />800K <br />600K <br />400K <br />200K <br />0 <br />19%9' 6"65�oT'� <br />Source: CORE Research, 042025 <br />FIGURE 8: Key Lease Transactions <br />o- 61‘o- o- 5 5 <br />01' O1 & 64 Ov` 0 <br />1 OT' <br />r5)9e2 OWryOry� <br />ClassA Class B -3-Year Average <br />Ft. Leased Transaction Type <br />Sps Commerce 197,610 Renewal 333 S 7th St Minneapolis CBD <br />Northmarq 50,755 Renewal 3500 W American Blvd W 494 <br />Edina Realty 48,348 Renewal 6600-6800 France Ave S 494 <br />Ernst & Young US 41,294 New Lease 800 Nicollet Mall Minneapolis CBD <br />Cardinal Glass Industries 33,009 New Lease 7480 Flying Cloud Dr 494 <br />Dewitt 32,919 Renewal 901 Marquette Ave Minneapolis CBD <br />Regus 30,736 New Lease 333 S 7th St Minneapolis CBD <br />Adtalem Global Education 26,042 New Lease 100 Washington Ave S Minneapolis CBD <br />CVS Caremark 24,151 Renewal 8300 Norman Center Dr 494 <br />Vizient 22,494 Renewal 7601 France Ave S 494 <br />Source CBRE Research, 042025 <br />2025 CBRE, INC. <br />