The typical asking rate per listing is in the $20's per square foot per year. The Downtown West region is going through a decline in rates. In the last 3 months, the median rate decreased $1 per sqft per year. That's a 3% decrease in rent.
Compared to the rest of the Minneapolis market, the Downtown West submarket has higher rates, and you'll need to pay a premium to be in this hot region.
In the last 90 days, 157 listings have been listed, so you'll want to check back regularly for new listings. About 3% of the available leases in the Downtown West are subleases, so you will probably need to consider the implications of signing a direct lease with the building. 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 4,991 sqft, there are still 0 new listings below 2,000 sqft. Most buildings in this market are around 12 stories. Most buildings in this region were built in 1962 and are Class B.
Real estate is the dominant industry in this region. Commute by public transit is the most popular way to get to work amongst Downtown West occupants. Commuting close to 15 minutes a day is the norm for those who opt to reside in this part of town.