STRONG INDUSTRIAL PERFORMANCE IN 2017 POSITIONS THE TWIN CITIES MARKET FOR THE YEAR AHEAD

Posted by carlson on March 22, 2018 in Market Update, News & Case Studies

Vacancy and Absorption Trends 2017 ended strong for the Twin Cities industrial market. The 4th quarter saw 1.1 million square feet of positive absorption, which was by far the strongest quarter of the year. Net absorption totaled 2.36 million square feet for the year. This puts 2017 slightly below the positive pace of 2016 and 2015 […]

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TWIN CITIES OFFICE MARKET EXPERIENCES NEGATIVE ABSORPTION IN 2017

Posted by carlson on February 28, 2018 in Market Update

Economic Overview According to the Bureau of Labor Statistics, the unemployment rate in the Twin Cities metropolitan statistical area (MSA) decreased 0.7 percentage points from 3.7% at the beginning of 2017 to 3.0% as of December 2017. The year-end unemployment rate compares favorably to Minnesota (3.1%) and the U.S. (4.1%) yearend figures. The Minneapolis-St. Paul MSA’s non-farm employment increased by 51,200 jobs over the past year. Office […]

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GET READY FOR BOMA’S NEW OFFICE STANDARDS

Posted by carlson on October 5, 2017 in Market Update

The Building Owners and Managers Association (BOMA) will be releasing a new version of its Office Standards this fall. The most significant changes will address how building measurements will be calculated. Proposed changes include additions to what’s considered to be “rentable areas.” Areas such as balconies and rooftop terraces and the lowest levels of vertical […]

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GET THE BIG PICTURE FROM 2016 FOR INSIGHTS INTO 2017

Posted by carlson on May 22, 2017 in Market Update

Trends in Industrial, Retail and Office The more things change, the more they remain the same. It’s certainly true for the Twin Cities real estate market. While some areas within the metro have experienced major shifts and realignments, the overall commercial real estate market is strong. And as always, market behavior depends on specific locations. […]

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Industrial Market – Twin Cities

Posted by carlson on September 8, 2014 in Market Update

The Twin Cities industrial market is strong, according to a recent Star Tribune report.  Eight speculative projects totaling over 1.2 million SF are underway.  Diving deeper, we see certain product types doing well, while others struggle.  Class A, well located buildings continue to see good leasing activity – which is exactly the type of product under […]

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