Compared to the rest of the Minneapolis market, the Phillips region has greater rates, and you'll need to pay a premium to be in this hot region.
In the last 90 days, 29 listings have come on the market, which means new availabilities might be leasing quickly. You'll want to be prepared to make an offer immediately. About 7% of the listings in the Phillips 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 available, so finding a space for a small business might be tough.
Even though the median size is 45,000 sqft, there are still 0 spaces below 2,000 sqft. Most buildings in this market are around 4 floors. Most buildings in this area were built in 1971 and are Class B.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Health care is the dominant industry in this region. Most of the residents of Phillips work from home. Commuting close to 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 Phillips.
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