Twin Cities office vacancies rise to 19.9% in fourth quarter A national report says a 2021 recovery likely will not take hold until the second half of the year. January 19, 2021 9:58pm Text size Copy shortlink:
COVID-19 and the economic downturn continued to throttle Minnesota and the U.S. office market during the fourth quarter as vacancies and sublease offerings soared.
U.S. office vacancy rates during the final months of 2020 were the highest in 18 years, with those affected most including Midtown Manhattan, San Francisco, Boston and Seattle.
Office vacancies in Minneapolis and St. Paul jumped to 19.9% of the 78.5 million square feet across the metro area. That is up from 17.9% one year ago.
After riots, St. Paul s Midway works to turn blight to bright A 4-mile stretch of University Avenue in St. Paul has a slate of housing and retail projects aimed at recovery. January 16, 2021 8:00am Text size Copy shortlink:
Four nights after George Floyd died in the custody of Minneapolis police, four men were caught on camera breaking into the Enterprise Rent-A-Car building in St. Paul s Midway neighborhood. They set it on fire. It was a total loss, said building owner Paul Gonyea, founder of Gonyea Commercial Properties. The roof collapsed. The inside walls collapsed. What remained had to be turned down.