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Office Insight

United States | Minneapolis, MN

Report | Minneapolis St. Paul Office Insight - Q3 2015

Summary

Vacancy rates in Minneapolis CBD continue their trend of shrinking every quarter. Vacancy at IDS Center declined 250 basis points since 2014 and the building now has its lowest quarterly vacancy in recent years. The demand for premium downtown office space is substantial and even co-working firms are getting in on the craze.

As of this quarter, metro employment in finance and insurance industries has finally rebounded to pre-recession levels. The office market has seen substantial leasing activity from firms like Ally Financial which recently relocated 150 employees to the Shoreview Corporate Center with plans to add another 250 jobs by 2017. 

Learn more about what’s happening—and what we expect to occur in the coming months—in the Minneapolis/St. Paul office market.

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