Report | Minneapolis Office Insight - Q1 2016
With the coming move of Wells Fargo in early 2016 from the CBD to Downtown East, we expect to see an initial vacancy rate jump triggered by the company’s shift. However, the migration will also open up much-needed contiguous blocks of space for other tenants to grab.
And as churn continues in the CBD—mainly from law firm right-sizing—valuable high-rise space will also come vacant, including 120,000 square feet across four floors at the IDS Center.
This type of space is rarely available as Skyline vacancy rates—the 30th floor or above—in the CBD are now a mere 8 percent (as of Q1 2016).
Learn more about what’s happening right now in Minneapolis and St. Paul—and what we can expect over the next couple months—by downloading our Q1 2016 US Office Insight.
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