The typical asking rate per listing is in the $10's per square foot per year. The Mid-City Industrial region is going through a decrease in rates. In the last 3 months, the median rate fell $3 per sqft per year. That's a 16% decline in rent.
Compared to the rest of the Minneapolis market, the Mid-City Industrial submarket has smaller rates, so you should have no trouble finding a great deal in this undervalued region.
In the last 90 days, 17 listings have come on the market, which means new availabilities might be going fast. You'll want to be prepared to make an offer immediately. About 12% of the listings in the Mid-City Industrial 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 on the market, so finding a space for a small business might be tough.
Even though the median size is 16,250 sqft, there are still 0 leases below 2,000 sqft. Most buildings in this region are around 2 floors. Most buildings in this area were built in 1932 and are Class A.
Construction is the dominant industry in this market. Commute by bike is the most popular way to get to work amongst Mid-City Industrial occupants. Commuting between 20 and 25 minutes a day is the norm for those who opt to reside in this part of town.