Download full report

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 the universe 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

Download full report