Minnesota Commercial Real Estate For Lease
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GROUND RULES
Multi-tenant retail properties in the 7-county metro area in excess
of 30,000 square feet. Rental rates are based on quoted net rates
exclusive of transaction costs. Actual effective rates will vary.
DEFINITIONS
- Existing Projects: Building construction completed prior to
December 31st, 2010.
- Vacant space: Space that is unoccupied and not under lease
- Absorption: The positive or negative difference in the amount of
space occupied between December 31st, 2009 and December 31st,
2010.
- Space that is physically occupied by a tenant prior to December
31st, 2010, but marketed for lease is considered occupied space.
- Sublease space, either physically occupied or vacant, is considered
occupied space in real estate until the lease runs out
- Space occupied by a tenant on a month-to-month lease that is also
marketed for lease to a new, long- term tenant is considered occupied
space
- The report does not track shadow space, or buildings that are
leased by tenants who are not using the space but not trying to
sublease it
- Contiguous space: Having a common boundary; space that is directly
adjacent to another space or spaces
- Average quoted rates were based on single, double, or triple net
rates.
PROFILE OF PROJECT TYPES
- Regional Center: 400,000 square feet and up
- Community Center: 150,000-399,999 square feet
- Neighborhood Center: 30,000-149,999 square feet
- Central Business Districts of Minneapolis & St. Paul: Regardless of square footage
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