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FIGURES I MINNEAPOLIS/ST. PAUL OFFICE I Q4 2025 <br />Sales Activity <br />In Minneapolis/St. Paul, office sales totaled over $428 million in 04 2025. Quarterly volume <br />represents a 414% increase quarter -over -quarter and a 40% increase year -over -year. <br />Investment Sales contribute largely to the volume of transactions, at 55.2% of the total sales <br />volume. Investment Sales averaged over $88 per square foot, with the lowest per sq. ft. <br />transacted at $21.25 — from Riverview Office Tower. <br />Year-to-date the Minneapolis/St. Paul market transacted over $771 million. Of that, 75.7% is <br />attributed to "pure" office sales, excluding medical office. In 2025, the total Investment Sales <br />volume sat at 32%, Owner -User sales at 39.7%, and Medical -office sales at 24.3%. <br />The top sale this quarter was Boston Scientific Campus. The property was bought for $188.8M <br />from Ryan Companies to Boston Scientific. Another notable sale took place in the Minneapolis <br />CBD; Washington Square Portfolio sold for $48.6M to Pioneer Acquisitions, CBRE was the <br />broker on the sale. <br />FIGURE 10: Key Sale Transactions, 042025 <br />IMIIIMPr <br />Sales Price Size (SF) Price P <br />Boston Scientific 394 Boston Scientific $188.8M 400,000 $472.02 <br />Washington Square <br />Portfolio Minneapolis CBD Pioneer Acquisitions $48.6M 913,501 $53.23 <br />Summit Orthopedics Clinic 394 Hammes Partners $35.7M 78,000 458.33 <br />TractorWorks Building North Loop Singerman Realty $25.5M 372,205 $68.51 <br />Veritas Technologies Suburban St. Paul Shree Investments $14.6M 136,125 $107.44 <br />Blaine Medical Center Suburban St. Paul Hammes Partners $14.1M 33,399 $423.67 <br />Superior Tech Center 494 EP Partners $14M 93,146 $150.30 <br />Source: CoStar, CBRE Research, 04 2025 <br />FIGURE 9: CBD vs. Suburban Office Sales Volume <br />Volume ($) <br />600M <br />500M <br />400M <br />300M <br />200M <br />100M <br />0 <br />1 <br />01 <br />• CBD Volume • Suburban Volume <br />I I • I • is I <br />04 01 02 03 04 01 02 03 04 01 02 03 04 <br />2022 2023 2024 2025 <br />Source. CoStar, CBRE Research, 04 2025 <br />FIGURE 11: Year -Over -Year Sales Growth <br />Volume ($) <br />300% <br />250% <br />200% <br />150% <br />100% <br />50% <br />0% <br />-50% <br />100% <br />•Year over Year Change in Quarterly Volume <br />01 Q2 03 04 <br />2022 <br />Source 005tar, CBRE Research, 04 2025 <br />01 02 Q3 04 <br />2023 <br />Q1 Q2 03 04 <br />2024 <br />01 02 03 04 <br />2025 <br />CBRE RESEARCH © 2025 CBRE, INC. <br />