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Market Outlook

2024 Year End Office Update

2024 Year End Office Update

Foreclosures and short sales remained common in the market across all building classes; including trophy properties such as Wells Fargo Center and the Ameriprise HQ selling at deeply discounted prices and 8500 Normandale Lakes going back to its lender. In many cases,...

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2024 Year End Industrial Update

2024 Year End Industrial Update

With strong positive net absorption in the 4th Quarter of 2024, the overall market vacancy rate dipped to 5.2%. Rental rates continue to trend upward, fueled by sustained demand and a slowdown in new construction relative to 2023, largely due to higher interest rates...

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2024 Year End Office Update

2024 Mid-Year Office Update

Foreclosures and short sales have become quite prevalent in the market as many owners have not been able to overcome higher interest rates combined with lower occupancy and lower demand.  While there continues to be a trend toward more time in the office for...

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2016 Twin Cities Office Market Outlook

2016 Twin Cities Office Market Outlook

2016 Twin Cities Office Market Outlook The Twin Cities added 30,000 new jobs in 2015 lowering the unemployment rate to 3.7%, the lowest level in 15 years, well below the national average of 4.8%. Job growth in the health care and biosciences industries fueled office...

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2016 Twin Cities Office Market Outlook

2016 Twin Cities Industrial Market Outlook

2016 Twin Cities Industrial Market Outlook The Twin Cities added 30,000 new jobs in 2015 lowering the unemployment rate to 3.7%, the lowest level in 15 years and well below the national average of 4.8%. Job growth in manufacturing fueled absorption of 3,670,000 SF....

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