On average, listings lease in the $20's per square foot per year. The Downtown West submarket is experiencing a decrease in rates. In the last 3 months, the median rate fell $1 per sqft per year. That's a 6% decrease in rent.
Compared to the rest of the Minneapolis market, the Downtown West submarket has smaller rates, so you should have no trouble finding a great deal in this discounted submarket.
In the last 90 days, 1315 listings have been listed, so you'll want to check back regularly for new listings. About 6% of the available leases in the Downtown West are subleases, so you will probably need to consider the implications of signing a direct lease with the building. There aren't many listings below 2,000 square feet available, so finding a space for a small business might be tough.
Even though the median size is 4,750 sqft, there are still 0 new listings below 2,000 sqft. Most buildings in this market are close to 12 floors. Most buildings in this market were built in 1962 and are Class B.
Real estate is the dominant industry in this area. Commute by public transit is the most popular way to get to work amongst Downtown West occupants. Commuting approximately 15 minutes a day is the norm for those who opt to reside in this part of town.
Real time and historical data on commercial real estate listings in Downtown West.
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