On average, listings lease in the $20's per square foot per year. The University region is experiencing a a rise in rates. In the last 3 months, the median rate increased $3 per sqft per year. That's a 13% rise in rent.
Compared to the rest of the Minneapolis market, the University region has more expensive rates, and you'll need to make a great offer to be in this hot region.
In the last 90 days, 211 listings have been posted online, so you'll want to check back regularly for new listings. About 10% of the listings in the University are subleases, so you will probably need to sign a longer term lease with the landlord directly. There aren't many listings below 2,000 square feet available, so finding a space for a small business might be tough.
The standard measurement for office space in this area is around 2,120 sqft. Most properties in this region are around 2 stories. Most buildings in this market were built in 1961 and are Class B.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Agriculture is the dominant industry in this market. Commute by bike is the most popular way to get to work amongst University occupants. Commuting under 5 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 University.
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