On average, listings lease in the $20's per square foot per year. The Downtown West submarket is going through a a rise in rates. In the last 3 months, the median rate increased $1 per sqft per year. That's a 3% rise in rent.
Compared to the rest of the Minneapolis market, the Downtown West region has lower rates, so you should have no trouble finding a great deal in this depreciated submarket.
In the last 90 days, 277 listings have been posted online, so you'll want to check back regularly for new listings. About 3% of the office spaces in the Downtown West 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.
Even though the median size is 7,500 sqft, there are still 0 new availabilities below 2,000 sqft. Most properties in this area are close to 17 floors. Most buildings in this market were built in 1962 and are Class B.
Real estate is the dominant industry in this market. Commute by public transit is the most popular way to get to work amongst Downtown West occupants. Commuting close to 15 minutes a day is the norm for those who opt to reside in this part of town.