Most listings are in the $220's per square foot per year. The Loring Park submarket is going through a a rise in rates. In the last 3 months, the median rate rose $203 per sqft per year. That's a 1,100% rise in rent.
Compared to the rest of the Minneapolis market, the Loring Park submarket has higher rates, and you'll need to make a great offer to be in this hot submarket.
In the last 90 days, 3 listings have been listed, which means listings 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 available, so finding a space for a small business might be tough.
Even though the median size is 5,300 sqft, there are still 0 new availabilities below 2,000 sqft. Most buildings in this region are approximately 2 floors. Most buildings in this region were built in 1916 and are Class C.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Information is the dominant industry in this market. Commute by public transit is the most popular way to get to work amongst Loring Park occupants. Commuting close to 20 minutes a day is the norm for those who opt to reside in this part of town.