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 $4 per sqft per year. That's a 15% decline in rent.
Compared to the rest of the Minneapolis market, the Downtown West region has less expensive rates, so you should have no trouble finding a great deal in this depreciated region.
In the last 90 days, 120 listings have come on the market, 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 on the market, so finding a space for a small business might be tough.
Even though the median size is 5,500 sqft, there are still 0 spaces below 2,000 sqft. Most properties in this region are approximately 18 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 occupants. Commuting close to 15 minutes a day is the norm for those who opt to reside in this part of town.