The typical asking rate per listing is in the $20's per square foot per year. The Uptown region is seeing a a rise in rates. In the last 3 months, the median rate increased $26 per sqft per year.
Compared to the rest of the Minneapolis market, the Uptown submarket has greater rates, and you'll need to make a great offer to be in this hot region.
In the last 90 days, 9 listings have come on the market, which means leases might be leasing quickly. You'll want to be prepared to tour spaces as quick as possible. About 22% of the office spaces in the Uptown 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 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 properties in this area are approximately 3 stories. Most buildings in this region 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.