St. Paul Office Rent Price & Sales Report

Highlights

  • The average rent for office space in St. Paul is $24.13 per square foot, 11.67% lower compared to the previous year.
  • The market’s vacancy rate stands at 23.28%, higher than the state average of Minnesota, which is 16.11%.
  • Renting Class A/A+ office space here costs $25.53 per square foot, while Class B averages $21.99 and Class C stands at $20.17.

2025 Office Space Rent & Sales

  • $24.13 2025 Avg. Asking Rent
  • -11.67% Y-o-Y Avg. Asking Rent Change
  • 23.28% 2025 Office Vacancy Rate
  • $55.4M2025 Total Office Sales
  • $101.45Avg. Sale Price/SF

What is the average asking rent price for office space in St. Paul?

Average asking rents for office space here stand at $24.13 per square foot. The local office market recorded an average vacancy rate of 23.28% in 2025, unchanged from 23.28% in 2024.

Office transactions in the local market in 2025 totaled a sales volume of $55.4M across 9 sales. These transactions commanded an average sale price per square foot of $101.45.

St. Paul, MN Office Asking Rents by Class

What is the average office rent per square foot by property class in St. Paul?

  • Avg. Asking Rent Class A & A+$25.53
  • Avg. Asking Rent Class B$21.99
  • Avg. Asking Rent Class C$20.17

The average asking rent for Class A and A+ office space stood at $25.53 per square foot, indicating the best — and most expensive — that the market has to offer.
Class B space in St. Paul averaged $21.99 per square foot, while the average for Class C space was $20.17 per square foot.

What is the average office rent per square foot by property class in MN?

  • Avg. Asking Rent Class A & A+$31.62
  • Avg. Asking Rent Class B$23.93
  • Avg. Asking Rent Class C$17.72

For comparison, the average rent for Class A and A+ office space in Minnesota was $31.62 per square foot. The state-wide average for Class B space was $23.93 per square foot, and Class C office spaces averaged $17.72 per square foot.

St. Paul, MN Office Indicators by Submarket

In 2025, the submarket with the lowest office vacancy rate in St. Paul was Ramsey County - North at 7.49%. Meanwhile, the highest office vacancy rate in the market was 35.36%, recorded in St. Paul - South.
Submarket Asking Rents Vacancy Rates
St. Paul - South $27.91 35.36%
Washington County $26.87 10.86%
St. Paul - Downtown $24.07 31.44%
St. Paul - West $22.93 17.55%
Dakota County - North $20.99 14.38%
Ramsey County - North $19.96 7.49%
Dakota County - Southwest $18.53 8.85%
Data provided by Yardi Research

Explore Top Office Markets in Minnesota

2025 Office Sales Volume

  • $101.452025 Avg. Price per SF
  • -2.63%Y-o-Y Avg. PpSF Change
  • $55.4M2025 Office Sales Volume
  • 92025 Number of Transactions

What is the average sale price per square foot for office space in St. Paul?

Average sale prices for office space in this market recorded a -2.63% change in 2025 compared to the previous year.
Office transactions recorded in the market in 2025 averaged $101.45 per square foot. For comparison, the statewide Minnesota average during the same time period stood at $99.93 per square foot, while the national average was $182.48 per square foot.

St. Paul, MN Sale Price per SF Trend

  • St. Paul Avg. Sale Price per SF in 2025$101.45
  • Minnesota Avg. Sale Price per SF in 2025$99.93

What was the total office sales volume in St. Paul in 2025?

The local office market recorded 9 deals in 2025, adding up to a yearly sales volume of $55.4M.

  • St. Paul, MN Total Office Sales Volume in 2025 $55.4M
  • St. Paul, MN Total Number of Office Sales Closed in 2025 9
Data provided by Yardi Research

Office Construction in St. Paul, MN

What are the largest recent office completions in St. Paul?

The largest recent office completion here is Infor Commons at 436,478 square feet, completed in 1998. The next largest completions are 765 Hampden Avenue and Midway Innovation Center I.

Office building Address SF Completed
Highland Bridge Medical 2270 Ford Pkwy, 55116 60,000 2023
Randolph Square 335 Randolph Avenue, 55102 82,174 2021
765 Hampden Avenue 765 Hampden Avenue, 55114 158,527 2009
Midway Innovation Center II 2344 Energy Park Drive, 55108 59,880 2007
Riverbend Business Center - 355 Randolph Avenue 355 Randolph Avenue, 55102 78,800 2006
Midway Innovation Center I 2340 Energy Park Drive, 55108 107,344 2005
Energy Park Corporate Center 1260 Energy Lane, 55108 100,364 2003
Energy Park Corporate Center 1260 Energy Lane, 55108 100,364 2003
Infor Commons 380 St. Peter Street, 55102 436,478 1998
Westgate Business Center III 2635 University Avenue West, 55114 101,373 1994
Data provided by Yardi Research

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Disclaimer

All information on this page is based on city-level data that includes properties equal to or larger than 25,000 square feet.
Averages were calculated based on values dated between January 1st and December 31st 2025. Construction pipeline data represented herein is valid as of January 2026.

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 Yardi Research Data can guarantee that the information provided is complete.