On average, listings lease in the $20's per square foot per year. The Central Minneapolis region is going through a decline in rates. In the last 3 months, the median rate decreased $2 per sqft per year. That's a 9% decline in rent.
Compared to the rest of the Minneapolis market, the Central Minneapolis region has less expensive rates, so you should have no trouble finding a great deal in this depreciated region.
In the last 90 days, 226 listings have come on the market, so you'll want to check back regularly for new listings. About 3% of the office spaces in the Central Minneapolis are subleases, so you will probably need to sign a longer term lease with the landlord directly. 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 3,960 sqft, there are still 0 new listings below 2,000 sqft. Most properties in this market are approximately 7 stories. Most buildings in this market were built in 1922 and are Class B.
A large portion of this area is residential, but there's plenty of office_space. Waste services is the dominant industry in this area. Commute by car is the most popular way to get to work amongst Central Minneapolis occupants. Commuting approximately an hour a day is the norm for those who opt to reside in this part of town.