On average, listings lease in the $20's per square foot per year. The Downtown West submarket is seeing a a rise in rates. In the last 3 months, the median rate rose $22 per sqft per year.
Compared to the rest of the Minneapolis market, the Downtown West submarket has greater rates, and you'll need to pay a premium to be in this hot region.
In the last 90 days, 123 listings have been listed, so you'll want to check back regularly for new listings. About 63% of the office spaces in the Downtown West are subleases, so you might be able to sign a shorter term by taking over a previous lease. 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 3,200 sqft, there are still 0 spaces below 2,000 sqft. Most buildings in this area are approximately 12 floors. Most buildings in this region 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 residents. Commuting approximately 15 minutes a day is the norm for those who opt to reside in this part of town.