Minneapolis–Saint Paul has approximately 80 million square feet of commercial space. The metro is home to a large concentration of Fortune 500 companies in retail, finance, healthcare, and food manufacturing. The IDS Center corridor and Nicollet Mall anchor the downtown market. The suburban corridors along 494/394 are significant office and industrial markets.
By Angel Campa, Founder · Updated March 2026
Commercial Space
80M sq ft
Avg Office Rent
$22–$35/sq ft
Vacancy Rate
23%
Avg Lease Term
5–10 years
Minneapolis CBD office leases are predominantly FSG. Suburban office is Modified Gross or NNN. Industrial and distribution is NNN. The skyway system connecting downtown buildings creates unique shared-space CAM provisions in CBD leases.
Minnesota Landlord–Tenant Guide
State-specific commercial lease laws, notice periods, and tenant rights for Minnesota →
Many Minneapolis CBD buildings connect via the enclosed skyway system, which creates shared common area costs across multiple buildings. These cross-building CAM allocations are complex and require careful abstraction to understand true occupancy costs.
A complete reference for commercial lease financial terms. Covers base rent, escalations, NNN vs gross, TI allowances, and percentage rent with examples.
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