On average, listings lease in the $20's per square foot per year. The Downtown West region is going through a an increase in rates. In the last 3 months, the median rate rose $22 per sqft per year.
Compared to the rest of the Minneapolis market, the Downtown West submarket has more expensive rates, and you'll have to negotiate above asking rent to be in this hot submarket.
In the last 90 days, 123 listings have come on the market, so you'll want to check back regularly for new listings. About 62% of the office spaces in the Downtown West 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 on the market, so finding a space for a small business might be tough.
Even though the median size is 3,200 sqft, there are still 0 office spaces below 2,000 sqft. Most buildings in this market are around 12 floors. Most buildings in this market were built in 1962 and are Class B.
Real estate is the dominant industry in this market. Commute by public transit is the most popular way to get to work amongst Downtown West folk. Commuting close to 15 minutes a day is the norm for those who opt to reside in this part of town.