The Minneapolis Warehouse Space Market is Booming!
Oh how things have changed. It is finally good times for everyone involved with Industrial Real Estate in Minneapolis/St Paul. Over the last 12 months, there has been almost 2,000,000 SF absorbed in the overall market. Even with that surge in demand, vacancy rates have remained flat as developers were ahead of the curve and had a number of new speculative properties ready to accommodate new tenants.
Will this torrid pace continue? Developers, investors and brokers sure hope it will, but we do expect this going into 2016. We do expect the industrial real estate market to remain healthy and the following trends to continue:
- rental rates increasing
- cap rates lowering/flattening
- significant influx of investment capital looking at every available portfolio
- development community will continue building, filling, and selling their developments.
If you are in need of additional warehouse space, we can help. Please contact us today!