Most listings are in the $10's per square foot per year. The Loring Park region is experiencing a a boost in rates. In the last 3 months, the median rate increased $1 per sqft per year. That's a 8% increase in rent.
Compared to the rest of the Minneapolis market, the Loring Park region has smaller rates, so you should have no trouble finding a great deal in this discounted region.
In the last 90 days, 31 listings have been posted online, which means spaces might be going fast. You'll want to be prepared to make an offer immediately. About 32% of the available space in the Loring Park are subleases, so you might be able to snag a great spot on a short term. There aren't many listings below 2,000 square feet posted, so finding a space for a small business might be tough.
The standard measurement for office space in this area is around 460 sqft. Most buildings in this region are around 2 stories. Most buildings in this market were built in 1916 and are Class B.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Information is the dominant industry in this market. Commute by public transit is the most popular way to get to work amongst Loring Park folk. Commuting around 20 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 Loring Park.
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