After a year of working at JLL, Ted Gonsior, Zac Hoang and Jeremy Grittner continue to be excited about their decision to join the Minneapolis JLL office and establish its Retail Brokerage Services department.
JLL Capital Markets negotiates sale of 140,418-square-foot retail center in Minneapolis market rejournals.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from rejournals.com Daily Mail and Mail on Sunday newspapers.
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.