In 2015, Class B office buildings accounted for 11 of the 13 transactions in the Minneapolis central business district, representing 57% of the total transaction volume of $294 million and 64% of the total transaction square footage of 2.4 million square feet. The shrinking gap between prices per square foot for Class A and Class B properties demonstrates growing investor interest in more customizable and often pre-leased Class B buildings with a stable tenant base.

1. Minneapolis–St. Paul
Price per square foot for Minneapolis CBD
Class B office tops pre-Recession highs
Chart of the week: March 7, 2016
Sources: JLL Research
• In 2015, Class B office buildings accounted for 11 of 13 transactions in the Minneapolis CBD; 57% of total
transaction volume ($294M); and 64% of total transaction square footage (2.4M square feet). The shrinking
gap between Class A and Class B prices p.s.f. demonstrates growing interest for customizable investments
that often come pre-leased with a more invariable set of tenants.
$205
$192
$292
$259
$126
$173
$246
$192
$72 $64
$98
$67
$95
$67 $67
$100 $92
$118
$0
$200
$400
$600
$800
$1,000
$1,200
$0
$50
$100
$150
$200
$250
$300
$350
2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015
Millions
Avg Price PSF, Class A Avg Price PSF, Class B Transaction Volume