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Minneapolis Market Report

Minneapolis Office Market

Average Asking Rate (Price/SF)
     $25.11
Availability Rate (%)
       11.2%
Net Absorption (SF)
   456,473

The Minneapolis-St. Paul office market positively absorbed 456,473 square feet during the first quarter of 2019. Vacancy was 11.2%, down from 11.8% at year-end 2018. The Southwest led submarket absorption with 249,014 square feet. Digi absorbed 60,000 square feet at Excelsior Crossings in Hopkins after moving from its previous headquarters building in Minnetonka. Dominium purchased Digi's 133,000 square foot former headquarters building and is planning to raze the structure and build apartments.



Minneapolis Office Market Report
1Q19
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Minneapolis Office Market Trends
4Q18
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