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Cushman & Wakefield closes nearly 45,000 square feet of office leases at 15 Building in Minneapolis – REJournals
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Fox Rothschild moving to City Center, leasing some Target space - Minneapolis / St Paul Business Journal
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Lingerfelt CommonWealth Partners, Cushman & Wakefield debut Two22 renovations
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Jazzy $20M upgrades to 42-story former Campbell Mithun Tower herald hope for future of downtown Minneapolis
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Despite a year of increasing office vacancy rates due to remote work, real estate experts are optimistic about growth in this market and in others that were able to weather the pandemic.
The real estate outlook is improving, with new leasing activity on the rise, potential tenants demanding spec suites and people continuing to purchase new homes. Experts discussed current real estate market conditions and outlook during a virtual panel held by the Minnesota Dakotas Chapter CCIM on Tuesday.
The vacancy rate in the Twin Cities office market was 21.5% last quarter a figure that’s widely expected to increase as companies continue adopting remote work policies as well as subleasing and shedding space, said Katie Tufford, a senior director and broker with Cushman & Wakefield.