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Office Space for Rent in Minneapolis, MN - 166 Listings

Minneapolis, MN - Office Market Overview

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The Minneapolis Metropolitan Area includes Brooklyn Center, Midtown Phillips, and the North Loop office space submarkets. With a metropolitan population of over 3.5 million people, Minneapolis is the largest city of the Minneapolis - St. Paul metro area. The economy of Minneapolis is extremely diverse, with healthcare, manufacturing, financial services, high technology, and food processing among the many industry sectors creating demand for Class A office space in the Minneapolis area.

As of mid-2017, the Greater Minneapolis office market encompasses over 41 million square feet of existing office space in properties larger than 50,000 square feet. The Minneapolis commercial real estate market continues to grow due to its dynamic business mix and the city being the second-largest economic center in the Midwest, right behind Chicago.

Minneapolis, MN - Office Inventory Description

The Minneapolis metro area ranks among the top 30 places in the U.S. for business and careers, part of the reason why demand for white-collar office employment in Minneapolis remains strong year after year. With a gross metropolitan product of nearly $233 billion annually, the demand for office space is robust. Over 65% of the office space in Minneapolis is Class A or A+, while Class B office product accounts for about 34% of the office inventory in Minneapolis.

The Richfield, MN office market is one of the many areas that consistently sees strong demand for white-collar office employment. Located between Route 77, I-494, and I-35W, this area is home to the Best Buy Richfield Campus, Two Meridian Crossings office building, and Woodlake Center on Lyndale Avenue South.

Top 10 Largest Office Buildings

in Minneapolis

Office building Address Sqft Year built
Best Buy Richfield Campus , 55423 1,500,000 2002
IDS Center , 55402 1,405,420 1972
Capella Tower , 55402 1,401,233 1990
33 South Sixth , 55402 1,346,487 1981
Target Corporate Headquarters - South Tower , 55402 1,215,000 2001
Wells Fargo Center , 55402 1,196,036 1988
The Dayton's Project , 55402 1,100,000 2020
Wells Fargo Minneapolis Campus , 55467 992,631 1912
Ameriprise Client Service Center , 55402 979,787 2001
U.S. Bancorp Center , 55402 927,799 2000

Most Recently-Built Office Buildings

in Minneapolis

Office building Address Sqft Year built
MoZaic East , 55408 197,000 2018
Regional Acceleration Center , 55411 84,800 2018
700 North 5th Street , 55401 56,000 2018
Millwright Building , 55415 172,000 2017
Kraus-Anderson Headquarters , 55404 103,000 2017
Downtown East - Wells Fargo Tower I , 55415 626,000 2016
Downtown East - Wells Fargo Tower II , 55415 626,000 2016
University of Minnesota Health Clinics and Surgery Center , 55455 330,000 2016
T3 , 55401 246,300 2016
Xcel Energy at 401 Nicollet , 55401 222,000 2016

Minneapolis, MN - Green Office Space

Employment

Back in 2014, Minneapolis ranked 10th for LEED-certified office buildings. Fast forward a few short years, and today the city ranks 5th for LEED-Certified, Energy Star-rated, and green office buildings larger than 50,000 square feet.

An excellent example of a Minneapolis LEED-certified office building is the 222,000-square-foot Xcel Energy Office Building at 401 Nicollet. Newly-built in 2016 and located in the Downtown West Minneapolis commercial real estate submarket, this Class A office building is anxiously awaiting its prestigious LEED Silver certification.

The amount of green office space in Minneapolis is quite impressive. With over 5% of the office buildings in Minneapolis being LEED-certified, nearly 19% are Energy Star-rated and over 20% are energy-efficient green buildings. The 2017 National Green Building Adoption Index surveyed the top 30 office markets in the U.S. for green office space, with Minneapolis ranking 5th in this report.

Minneapolis, MN's Top Office-Using Sectors

The commercial real estate market in Minneapolis, and especially the demand for Class A office space, is driven by an amazingly diverse mix of business of all sizes. Retail headquarters, healthcare, finance, and both national and international corporate headquarters all create a robust need for white-collar office space in Minneapolis.

  • Retail – The Minneapolis metro area is home to retail head offices such as Target, Best Buy, and Supervalu.
  • Healthcare – The demand for white-collar office space in the area is created by institutions such as the Mayo Clinic, UnitedHealth Group, and St. Jude Medical.
  • Finance – U.S. Bancorp, Ameriprise Financial, Thrivent Financial, Wells Fargo, and RBC Wealth Management are all part of this top office-using sector in Minneapolis.
  • Fortune 500 & Foreign Headquarters – The dynamic mix of business in the metro area includes the company headquarters of Xcel Energy, Accenture, Bellisio Foods, Canadian Pacific, and Voya Financial.

Minneapolis Demographics

Population

  • Total Population411,452
  • Male Population(50.6 %) 208,322
  • Female Population(49.4 %) 203,130
  • Median Age32.10

Income/Financial

  • Average Household Income$81,550
  • Median Household Income$55,720
  • Median Income Under 25$27,918
  • Median Income 25-44$64,037
  • Median Income 45-64$60,690
  • Median Income Over 65$39,632

News

Since 2009, the U.S. economy has had more than 110 consecutive months of growth, making this the second longest economic expansion since the Great Depression. After a rather tepid 2017 performance, the U.S. office market gathered some steam in 2018, adding 76 million square feet of new office sp...

According to an article recently published by the Twin Cities Business Journal, San Francisco-based real estate investment company, Shorenstein wants to market the 1.1 million-square-foot Washington Square office complex it currently holds title to in downtown Minneapolis. The source, who chose ...

Highlights: Working a 29-Hour Week in KCMO Will Get Your Very Own Private Office Want to Be a Freelancer in Silicon Valley? You’d Better Start Looking for a Roommate Average-Earning Freelancers Would Need to Work 79 Hours per Week to Support Themselves in Boston Customize expenses and working ho...