The typical asking rate per listing is in the $20's per square foot per year. The Downtown West submarket is going through a decline in rates. In the last 3 months, the median rate decreased $2 per sqft per year. That's a 8% decline in rent.
Compared to the rest of the Minneapolis market, the Downtown West region has more expensive rates, and you'll need to pay a premium to be in this hot region.
In the last 90 days, 123 listings have been made available, so you'll want to check back regularly for new listings. About 57% of the office spaces in the Downtown West are subleases, so you might be able to find a shorter term or below market rent. 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 3,130 sqft, there are still 0 new listings below 2,000 sqft. Most properties in this area are around 12 stories. Most buildings in this area 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 around 15 minutes a day is the norm for those who opt to reside in this part of town.