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Minneapolis Market Report

Minneapolis Office Market

Average Asking Rate (Price/SF)
Availability Rate (%)
Net Absorption (SF)

The vacancy rate in the Minneapolis-St. Paul office market held steady at 11.2% during the second quarter of 2019. Absorption was positive at 72,200 square feet, bringing year-to-date absorption to 528,673 square feet. The Minneapolis Central Business District led submarket absorption with 206,041 square feet, including 90,000 square feet that occurred as construction was completed at The Nordic in the North Loop. WeWork moved into 60,000 square feet, and Ovative opened in 30,000 square feet at the 194,700-square-foot project.

Minneapolis Office Market Report
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Minneapolis Office Market Trends
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