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Minneapolis–St. Paul
Office product to the northwest of Nicollet Mall
continues to fare better than the southeast
Chart of the week: October 24, 2016
Sources: JLL Research
• Office product in the CBD area northwest of Nicollet Mall has historically performed better than the
southeastern part of the CBD, and that trend has only become more pronounced. Even with T3
delivering fully vacant this quarter, total vacancy on the northwest side of Nicollet is 0.9 million square
feet (m.s.f.) with an average building vacancy rate of 12.3%. Comparatively, to the southeast of Nicollet
Mall, total office vacancy is 2.9 m.s.f. and the average building vacancy rate is 16.9%.
2013 2016 Q3
North Loop North Loop
Loring Park Loring Park
Core Core
East Town East Town
T3

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Minneapolis-St. Paul Chart of the Week | October 24, 2016

  • 1. Minneapolis–St. Paul Office product to the northwest of Nicollet Mall continues to fare better than the southeast Chart of the week: October 24, 2016 Sources: JLL Research • Office product in the CBD area northwest of Nicollet Mall has historically performed better than the southeastern part of the CBD, and that trend has only become more pronounced. Even with T3 delivering fully vacant this quarter, total vacancy on the northwest side of Nicollet is 0.9 million square feet (m.s.f.) with an average building vacancy rate of 12.3%. Comparatively, to the southeast of Nicollet Mall, total office vacancy is 2.9 m.s.f. and the average building vacancy rate is 16.9%. 2013 2016 Q3 North Loop North Loop Loring Park Loring Park Core Core East Town East Town T3