On average, listings lease in the $120's per square foot per year. The Mid-City Industrial submarket is going through a a rise in rates. In the last 3 months, the median rate rose $108 per sqft per year. That's a 586% increase in rent.
Compared to the rest of the Minneapolis market, the Mid-City Industrial region has more expensive rates, and you'll have to negotiate above asking rent to be in this hot region.
In the last 90 days, 6 listings have been made available, which means spaces might be leasing quickly. You'll want to be prepared to make an offer immediately. 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 9,110 sqft, there are still 0 new availabilities below 2,000 sqft. Most buildings in this area are around 2 floors. Most buildings in this market 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.