2022 Office Space Rent & Sales
- $26.80 2022 Avg. Asking Rent
- 18.97% 2022 Office Vacancy Rate
- $23.4M2022 Total Office Sales
- $108.92Avg. Sale Price/SF
Bloomington office price per square foot in 2022 was $26.80 on average. The local office market recorded an average vacancy rate of 18.97% across all asset classes combined. The 3 transactions that closed here throughout 2022 amounted to a total sale volume of $23.4M. Bloomington office space commanded an average sale price per square foot of $108.92.
Average Rent by Office Class
2022 Average Office Rent per Square Foot
- Bloomington Class A & A+ Office Space$32.11
- Bloomington Class B Office Space$20.40
- Minnesota Class A & A+ Office Space$31.34
- Minnesota Class B Office Space$22.45
- Minnesota Class C Office Space$17.93
Bloomington, MN Office Asking Rents by Class
2022 Office Vacancy Rates in Bloomington
Submarket | Asking Rents | Vacancy Rates |
---|---|---|
Bloomington - Edina | $27.86 | 15.22% |
Airport | $19.29 | 22.27% |
Bloomington Office Sale Price per SF
- $108.922022 Avg. Price per SF
- -5.83%Y-o-Y Avg. PpSF Change
- $23.4M2022 Office Sales Volume
- 32022 Number of Transactions
Bloomington, MN Sale Price per SF Trend
- Bloomington Avg. Sale Price per SF in 2022$108.92
- Minnesota Avg. Sale Price per SF in 2022$141.49
2022 Office Sales Volume
- Bloomington, MN Total Office Sales Volume in 2022 $23.4M
- Bloomington, MN Total Number of Office Sales Closed in 2022 3
Largest Bloomington Office Sales in 2022
Property name | Address | Date | Price |
---|---|---|---|
BLN Office Park | 2001 Killebrew Drive | 9/26/2022 | $18,700,000 |
4900 West 78th Street | 4900 West 78th Street | 7/11/2022 | $12,250,000 |
1801 American Blvd East | 1801 American Blvd East | 7/18/2022 | $7,500,000 |
Commerce Building | 8200 Humboldt Avenue South | 6/22/2022 | $3,621,444 |
10740 Lyndale Avenue South | 10740 Lyndale Avenue South | 8/30/2022 | $3,400,000 |
Coworking Spaces in Minnesota
- New York City Coworking Space
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- Madison Coworking Space
Office building | Address | SF | Completed |
---|---|---|---|
The Offices at MOA | 2101 Lindau Lane, 55425 | 256,398 | 2015 |
The Offices @ MOA | 2001 Lindau Ln, 55425 | 170,000 | 2015 |
Normandale 8200 Tower | 5600 W 83rd St, 55437 | 274,050 | 2009 |
Normandale 8000 Tower | 8000 Norman Center Drive, 55437 | 240,000 | 2001 |
One Marketpointe | 4300 Marketpointe Drive, 55435 | 238,371 | 2000 |
West Bloomington Technology Park | 10801 Nesbitt Avenue South, 55437 | 297,485 | 1999 |
6161 American Blvd West | 6161 American Blvd West, 55438 | 36,827 | 1999 |
SoLo 3311 | 3311 East Old Shakopee Road, 55425 | 207,000 | 1998 |
Hampshire Technology Center | 10900 Hampshire Avenue, 55438 | 144,441 | 1998 |
One Liberty Corporate Center | 6625 West 78th Street, 55439 | 325,000 | 1997 |
Worth noting among recent office completions on the Bloomington market is The Offices at MOA, which is currently the largest new office development in the city, at 256,398 square feet.
See reports for other markets
- Minneapolis Office Rent Price
- St. Paul Office Rent Price
- Edina Office Rent Price
- Eden Prairie Office Rent Price
- San Diego Office Rent Price
- Austin Office Rent Price
- Los Angeles Office Rent Price
- Dallas Office Rent Price
- Chicago Office Rent Price
- Miami Office Rent Price
- Charlotte Office Rent Price
- New York City Office Rent Price
- Houston Office Rent Price
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- San Francisco Office Rent Price
This market stats report is based on analysis of city-level data that includes office properties equal to or larger than 25,000 square feet in size. Averages were calculated based on values dated January 1st 2022 through December 31st 2022. Construction pipeline data represented herein is valid as of April 2023. The information on this page was compiled using data provided by CommercialEdge, a market intelligence solution which offers comprehensive real market knowledge on all Bloomington commercial properties sized 25,000 square feet or larger.
While every effort was made to ensure the accuracy of the data presented in this report, the information is provided “as is” and neither CommercialCafe nor CommercialEdge can guarantee that the information provided is complete.