On average, listings lease in the $20's per square foot per year. The Mid-City Industrial submarket is experiencing a an increase in rates. In the last 3 months, the median rate rose $3 per sqft per year. That's a 14% increase in rent.
Compared to the rest of the Minneapolis market, the Mid-City Industrial submarket has smaller rates, so you should have no trouble finding a great deal in this depreciated submarket.
In the last 90 days, 17 listings have been posted online, which means listings most likley are leasing quickly. You'll want to be prepared to tour spaces as quick as possible. 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 5,610 sqft, there are still 0 new availabilities below 2,000 sqft. Most buildings in this region are approximately 2 floors. Most buildings in this area were built in 1932 and are Class B.
Construction is the dominant industry in this market. 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.