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United States | Minneapolis, MN

Report | Minneapolis St Paul Office Insight - Q4 2015

Summary

2015 brought an unusual divide not commonly seen in the Twin Cities.

St Paul’s CBD actually experienced more activity than Minneapolis’s CBD over the last 12 months—led by activity from large employers in St. Paul like Pioneer Press and Green Tree. The traditionally stronger submarket was stuck more rightsizing and cost-aware moves, especially from law firms.

Market-wide vacancy rates fell nearly 2 percent from their 2014 levels to 14.6 percent in 2015, as the West submarket took over the title of most expensive submarket in the region—mostly thanks to an increase in premium space there being listed for lease.

Learn more about what’s happening—and what we expect to occur in the coming months—across the Minneapolis office market in our Q4 US Office Insight.

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