The typical asking rate per listing is in the $30's per square foot per year. The Calhoun Isles submarket is seeing a decrease in rates. In the last 3 months, the median rate decreased $1 per sqft per year. That's a 4% decline in rent.
Compared to the rest of the Minneapolis market, the Calhoun Isles submarket has higher rates, and you'll need to make a great offer to be in this hot submarket.
In the last 90 days, 30 listings have been posted online, which means office spaces are probably leasing quickly. You'll want to be prepared to tour spaces as quick as possible. About 7% of the listings in the Calhoun Isles are subleases, so you will probably have to focus your search on direct office leases. There aren't many listings below 2,000 square feet available, so finding a space for a small business might be tough.
The standard measurement for office space in this area is around 1,540 sqft. Most properties in this area are close to 2 stories. Most buildings in this market were built in 1948 and are Class A.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Company management is the dominant industry in this area. Commute by walking is the most popular way to get to work amongst Calhoun Isles folk. Commuting close to an hour a day is the norm for those who opt to reside in this part of town.