In the Northeast submarket, Class B outperformed Class A in terms of absorption and vacancy during every quarter of 2015. In December 2015, Be the Match finally relocated to its new build-to-suit headquarters in the North Loop, which opened up even more contiguous Class A space and a small amount of Class B.

1. Minneapolis–St. Paul
Tenants desire Class B office space in the
Northeast submarket while Class A sits vacant
Chart of the week: January 11, 2016
• In the Northeast submarket, Class B outperformed Class A in terms of absorption and vacancy during
every quarter of 2015. In December 2015, Be the Match finally relocated to its new build-to-suit
headquarters in the North Loop, which opened up even more contiguous Class A space and a small
amount of Class B.
• It is no coincidence that all recent office development in the Northeast has been Class B converted
industrial buildings, including the Highlight Center and the Broadway. Ackerberg is also capitalizing on
the shift towards more historic and less polished office space by redeveloping the 48,500-square-foot
Miller Textile Building.
Sources: JLL Research, Real Capital Analytics
27,432
3,525 8,071
(179,316)
50,124 38,020
116,031
(40,686)
-200,000
-150,000
-100,000
-50,000
0
50,000
100,000
150,000
Q1 2015 Q2 2015 Q3 2015 Q4 2015
Northeast quarterly absorption by class
Class A Class B
Be the Match relocates
to the North Loop in Q4