The typical asking rate per listing is in the $10's per square foot per year. The Mid-City Industrial region is going through a an increase in rates. In the last 3 months, the median rate increased $1 per sqft per year. That's a 4% increase in rent.
Compared to the rest of the Minneapolis market, the Mid-City Industrial region has smaller rates, so you should have no trouble finding a great deal in this undervalued submarket.
In the last 90 days, 103 listings have been listed, so you'll want to check back regularly for new listings. About 1% of the available leases in the Mid-City Industrial are subleases, so you will probably have to focus your search on direct office leases. There aren't many listings below 2,000 square feet on the market, so finding a space for a small business might be tough.
The standard measurement for office space in this area is around 1,610 sqft. Most properties in this area are approximately 2 floors. Most buildings in this region were built in 1932 and are Class A.
Construction is the dominant industry in this market. Commute by bike is the most popular way to get to work amongst Mid-City Industrial occupants. Commuting between 20 and 25 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 Mid-City Industrial.
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