Industrial Highlights

• Mpls-St Paul industrial market posted 52,500 sf positive absorption bringing the YTD to 1.0 msf positive absorption and finishing Q2 2025 with a 5.0% vacancy rate for both multi and single tenant properties.
• Multi-tenant properties posted (529,400) sf negative absorption bringing the YTD to 738,000 sf positive absorption and finishing Q2 2025 with a 7.5% vacancy rate.
• There are 31 projects under construction totaling over 3.7 msf while 13 properties were delivered YTD 2025 totaling 1.1 msf.

Office Highlights

• Mpls-St Paul office market posted (74,500) sf negative absorption bringing the YTD to 152,200 sf positive absorption and finishing Q2 2025 with a 20.0% vacancy rate for multi and single tenant properties.
• Multi-tenant properties had 24,100 sf positive absorption bringing the YTD to 136,800 sf positive absorption and finishing Q2 2025 with a 24.3% vacancy rate.
• There are 8 projects under construction totaling 1.5 msf while 4 properties have been delivered YTD 2025 totaling 218,200 sf.

Retail Highlights

• Mpls-St Paul retail market posted (266,400) sf negative absorption bringing the YTD to (444,400) sf negative absorption and finishing Q2 2025 with a 7.5% vacancy rate for multi and single tenant properties.
• Multi-tenant properties had (257,800) sf negative absorption bringing the YTD to (292,000) sf negative absorption and finishing Q1 2025 with a 10.6% vacancy rate.
• There are 24 projects under construction totaling 227,800 sf while 10 properties were delivered YTD 2025 with 201,100 sf.

Align yourself with a commercial agent that will help you face unpredictable times with confidence. Knowing that you have a full-service agent that understands industry shifts, and how to make them work to your advantage is key to your success. Give us a call today at Full Sail Commercial Real Estate, Mankato, MN, at 507-317-2353.

This article has been created based on internal data, information available publicly and other reliable sources. The article may also include information which are the personal views/opinions of the author(s.) The information included in this article is for general, educational, and awareness purposes only and is not a full disclosure of every material fact. Reference: MNCAR