Phillips Office Space

Phillips

Office Space Market Report

Number of Listings (last 90 days)
3
Median Rate ($/sqft/yr)
$24
Median Size (sqft)
7,290
As of: December 5, 2016

Phillips Rates

The typical asking rate per listing is in the $20's per square foot per year. The Phillips region is seeing a an increase in rates. In the last 3 months, the median rate increased $24 per sqft per year. That's a Inf% increase in rent.

Compared to the rest of the Minneapolis market, the Phillips submarket has more expensive rates, and you'll need to pay a premium to be in this hot region.

Phillips Listing Supply

In the last 90 days, 3 listings have come on the market, which means new availabilities might be going fast. You'll want to be prepared to tour spaces as quick as possible. 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 7,290 sqft, there are still 0 new availabilities below 2,000 sqft. Most buildings in this region are around 4 floors. Most buildings in this region were built in 1956 and are Class B.

Phillips Community

Not much of the real estate is used for commercial space, so it might be hard to find office space. Health care is the dominant industry in this region. Most of the residents of Phillips work from home. Commuting close to 15 minutes a day is the norm for those who opt to reside in this part of town.

Market Report

Trends and status of the commercial real estate market in Phillips.
Market Report

Market Data

Real time and historical data on commercial real estate listings in Phillips.
Research