On average, listings lease in the $20's per square foot per year. The Downtown East region is going through a decline in rates. In the last 3 months, the median rate decreased $4 per sqft per year. That's a 13% decrease in rent.
Compared to the rest of the Minneapolis market, the Downtown East region has greater rates, and you'll need to make a great offer to be in this hot region.
In the last 90 days, 3 listings have been made available, which means spaces might be going fast. You'll want to be prepared to make an offer immediately. 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 10,340 sqft, there are still 0 spaces below 2,000 sqft. Most buildings in this market are approximately 4 stories. Most buildings in this region were built in 1908 and are Class B.
A large portion of this region is residential, but there's plenty of office_space. Manufacturing is the dominant industry in this region. Commute by public transit is the most popular way to get to work amongst Downtown East occupants. Commuting close to 10 minutes a day is the norm for those who opt to reside in this part of town.