On average, listings lease in the $20's per square foot per year. The Mid-City Industrial region is experiencing a an increase in rates. In the last 3 months, the median rate increased $21 per sqft per year.
Compared to the rest of the Minneapolis market, the Mid-City Industrial region has lower rates, so you should have no trouble finding a great deal in this discounted submarket.
In the last 90 days, 17 listings have been made available, which means leases are probably going fast. You'll want to be prepared to tour spaces as quick as possible. About 76% of the available space in the Mid-City Industrial 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 available, so finding a space for a small business might be tough.
Even though the median size is 7,040 sqft, there are still 0 leases below 2,000 sqft. Most buildings in this market are approximately 2 floors. Most buildings in this region were built in 1932 and are Class A.
Construction is the dominant industry in this area. Commute by bike is the most popular way to get to work amongst Mid-City Industrial residents. Commuting between 20 and 25 minutes a day is the norm for those who opt to reside in this part of town.