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The typical asking rate per commerial real estate listing leases is in the $30's per square foot per year. The North Loop region is going through a an increase in rates. In the last 3 months, the median rate for lease went up $7 per sqft per year. That's a 28% rise in rent.
Compared to the rest of the Minneapolis commercial real estate market, the North Loop region has greater rates for rent, and you may need to pay a premium to be in this hot region.
In the last 90 days, 22 commercial real estate listings have been made available, which means new availabilities most likley are going fast. 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.
The standard size for office space in this area is around 1,900 sqft. Most buildings in this area are close to 5 floors. Most buildings in this area were built around 1913 and are Class B.
A large portion of this region is residential, but there's plenty of office space. Wholesale trade is the dominant industry in this region. Commute by bike is the most popular way to get to work amongst North Loop residents. Commuting close to 10 minutes a day is the norm for those who opt to reside in this part of town.
Real time and historical data on commercial real estate listings in North Loop.
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