Compared to the rest of the Minneapolis market, the Phillips 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, 7 listings have been made available, which means new listings most likley are leasing quickly. You'll want to be prepared to make an offer immediately. There aren't many listings below 2,000 square feet posted, so finding a space for a small business might be tough.
The standard measurement for office space in this area is around 2,080 sqft. Most buildings in this region are approximately 4 stories. Most buildings in this area were built in 1957 and are Class B.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Health care is the dominant industry in this area. Most of the residents of Phillips work from home. Commuting approximately 15 minutes a day is the norm for those who opt to reside in this part of town.