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Minneapolis Market Report

Minneapolis Office Market

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

The Minneapolis-St. Paul office market positively absorbed 478,063 square feet during the fourth quarter of 2018. Vacancy was 11.8%, down from 12.4% at year-end 2017. For 2018, the market absorbed more than 1.4 million square feet. Class A properties led absorption for the year with 653,337 square feet absorbed, and the Southwest led submarket absorption with 488,735 square feet. Full service gross rental rates averaged $25.11/SF overall, with the North Loop submarket in the Minneapolis CBD posting the highest rate at $37.06/SF.

Minneapolis Office Market Report
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Minneapolis Office Market Trends
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