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Minneapolis Office MarketBeat Q1 2026
The Minneapolis office market in Q1 2026 experienced a vacancy rate of 27.5%, declining 50 basis points year-over-year, with negative net absorption of 235,930 square feet driven primarily by Huntington Bank's 423,000-square-foot move-out, while asking rents held at $29.97 per square foot and leasing activity totaled 662,392 square feet with Class A assets capturing 63.7% of volume. Investment sales remained limited with selective repricing evident in downtown assets trading at nominal prices, though stabilized suburban properties like One Corporate Center II sold for $13.4 million, and the local unemployment rate stood at 3.8% in Q4 2025.
OfficeMinneapolisMinnesota
Updated 1 month ago
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