Most listings are in the $20's per square foot per year. The Downtown West region is going through a decline in rates. In the last 3 months, the median rate fell $1 per sqft per year. That's a 3% decrease in rent.
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, 142 listings have been posted online, so you'll want to check back regularly for new listings. About 3% of the available leases in the Downtown West are subleases, so you will probably have to consider a longer term lease. 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 4,640 sqft, there are still 0 listings below 2,000 sqft. Most properties in this area are close to 12 stories. Most buildings in this market were built in 1962 and are Class B.
Real estate is the dominant industry in this region. Commute by public transit is the most popular way to get to work amongst Downtown West residents. Commuting close to 15 minutes a day is the norm for those who opt to reside in this part of town.