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Regional Summaries

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Minneapolis, MN

Apartment
The 4,656 units added to the 173,979-unit Minneapolis-St. Paul apartment market in 2017 was the most since the 1980s. Despite about 4,000 units of net absorption, the vacancy rate ticked up 30 basis points over the year and 10 in the fourth quarter to 3.7%. The overall rate was just 3.5% in January 2018. The average effective rent increased faster than household average income for the third consecutive year in 2017. The average asking rent increased 4.5% to $1,251 per month, and the average effective rent rose 3.9% to $1,205 per month. The fourth quarter gains were just 0.4% and 0.2%, respectively, but rents increased by 0.3% asking and 0.4% effective in January 2018. VIEW APARTMENT LISTINGS >
Industrial
The 151.7-million-square-foot Minneapolis warehouse/distribution market got 1.9 million square feet of new supply in 2017, but 2.5 million square feet of net absorption pushed the vacancy rate down 50 basis points to 10.1%. The rate increased 20 basis points during the fourth quarter, as six speculative projects with 1.045 million square feet completed construction in the North, Far North, Southwest, and East submarkets. The average asking rent increased 1.8% in 2017 to $6.12 psf, with the average effective rent up 2.3% to $5.39 psf. The fourth quarter gains were 0.3% and 0.6%, respectively. Occupancy and rents were essentially flat in January 2018. The 59.4-million-square-foot Minneapolis Flex/R&D market is also active, with 189,000 square feet of new supply and 531,000 square feet of net absorption during 2017. The vacancy rate fell 60 basis points over the year and 20 during the fourth quarter to 12.6%. The average asking rent was up 1.8% during 2017 to $8.29 psf, with the average effective rent up 2.1% to $7.27 psf. The fourth quarter gains were 0.6% and 0.7%, respectively. Rents changed little in January 2018. VIEW INDUSTRIAL LISTINGS >
Office
The 79.3-million-square-foot general purpose, multi-tenant Minneapolis office market was weak even before a slowdown in employment, due to a boom in the development of owner-occupied space. Net absorption totaled minus 624,000 square feet in 2017, and the vacancy rate was up 90 basis points over the year to 17.0%. It slipped 10 basis points during the fourth quarter and was unchanged in January 2018. Rent gains were weak in 2017, with the average asking rent up just 0.2% to $23.11 psf and the average effective rent up just 0.1% to $17.81 psf despite a gain of 0.6% by both measures in the fourth quarter. Overall rents edged up 0.1% by both measures in January 2018. VIEW OFFICE LISTINGS >
Retail
The 34.3-million-square-foot Minneapolis community-neighborhood shopping center market had no new space added in 2017, and the 124,000 square feet of net absorption during the year reduced the vacancy rate 40 basis points to 10.8%. The rate edged up 10 basis points in the fourth quarter and was flat in January 2018. The average asking rent for this type of space decreased 0.4% during 2017 to $19.01 psf, with the average effective rent down 0.2% to $16.51 psf, due to decreases of 0.5% and 0.4%, respectively, during the fourth quarter. Rents rebounded in January 2018 with gains of 0.3% asking and 0.2% effective. VIEW RETAIL LISTINGS >

Source: Data provided by Reis, inc.

Coldwell Banker Commercial® Reports

Coldwell Banker Commercial® Blue Book

The Coldwell Banker Commercial® (CBC) organization is proud to present its’ 2017 Year-End Blue Book!

The Blue Book is a helpful market report with information brought to you by the true “on the ground” experts – the professionals of the Coldwell Banker Commercial organization from all over the world.

CBC-affiliated professionals represent one of the largest commercial real estate footprints in the U.S.  The Blue Book brings their local market feedback directly to you with up-to-date commercial real estate research covering 130+ Primary, Secondary, Tertiary & International markets. If you are thinking of investing in alternative markets, the Blue Book is your go-to resource for local commercial real estate market data!

CBC NRT NNN Investment Report

This is a market report that Coldwell Banker Commercial NRT prepared for the CBC Global Conference. This report provides the 2018 forecast of net-lease properties and details why NNN properties remain well-positioned for continued success and growth in the coming months.

The U.S. Gulf Coast & Its Vital Interstate-10 Corridor

CBC Infographics

Shopping In-store vs. Online Shopping

The retail industry is in the midst of epic change and while some predict the end of brick and mortar stores, a recent Coldwell Banker Commercial Affiliates survey conducted online by Harris Poll aimed to explore current shopper preferences and trends to determine the real state of commercial real estate today.

Commercial Real Estate & Technology: The Generational Divide

Infographic that addresses how each generation sees aspects like the adoption, use and importance of technology. Ultimately, each generations’ concerns come down to the impact that new technology will have on the industry.

The Growing Value of Digital Tools

Which digital tools do commercial real estate professionals value most, and what devices are they using to access them, and how are these professionals’ technology habits likely to change in the years to come?

Workers Prefer Dynamic and Efficient Office Space

As employers seek to define the workplace perks most likely to attract and retain employees, a recent Coldwell Banker Commercial Affiliates survey found that the physical office itself could keep staff happier.

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