The typical asking rate per listing is in the $20's per square foot per year. The Downtown West region is going through a decrease in rates. In the last 3 months, the median rate fell $2 per sqft per year. That's a 8% decline in rent.
Compared to the rest of the Minneapolis market, the Downtown West submarket has more expensive rates, and you'll need to pay a premium to be in this hot submarket.
In the last 90 days, 123 listings have been made available, so you'll want to check back regularly for new listings. About 3% of the listings in the Downtown West 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 posted, so finding a space for a small business might be tough.
Even though the median size is 3,870 sqft, there are still 0 listings below 2,000 sqft. Most properties in this region are approximately 17 stories. Most buildings in this region 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 around 15 minutes a day is the norm for those who opt to reside in this part of town.