The typical asking rate per listing is in the $20's per square foot per year. The Uptown region is going through a a rise in rates. In the last 3 months, the median rate increased $1 per sqft per year. That's a 5% increase in rent.
Compared to the rest of the Minneapolis market, the Uptown region has greater rates, and you'll need to make a great offer to be in this hot submarket.
In the last 90 days, 9 listings have come on the market, which means office spaces might be going fast. You'll want to be prepared to tour spaces as quick as possible. About 22% of the listings in the Uptown 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 available, so finding a space for a small business might be tough.
Even though the median size is 43,560 sqft, there are still 0 new listings below 2,000 sqft. Most buildings in this market are approximately 3 floors. Most buildings in this area were built in 1925 and are Class A.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Company management is the dominant industry in this area. Commute by bike is the most popular way to get to work amongst Uptown residents. Commuting close to an hour a day is the norm for those who opt to reside in this part of town.