On average, listings lease in the $20's per square foot per year. The University region is seeing a a boost 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 University region has lower rates, so you should have no trouble finding a great deal in this discounted submarket.
In the last 90 days, 39 listings have been made available, which means new availabilities most likley are leasing quickly. You'll want to be prepared to tour spaces as quick as possible. About 36% of the office spaces in the University are subleases, so you might be able to sign a shorter term by taking over a previous lease. 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 5,250 sqft, there are still 0 listings below 2,000 sqft. Most properties in this area are around 2 floors. Most buildings in this region were built in 1932 and are Class B.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Agriculture is the dominant industry in this region. Commute by bike is the most popular way to get to work amongst University occupants. Commuting under 5 minutes a day is the norm for those who opt to reside in this part of town.