Welcome to the

NorthMarq Compass

This report provides an in-depth analysis of commercial real estate conditions in the Minneapolis-St. Paul metro area for the office, industrial, retail, medical office, multi-family leasing and investment sale markets.

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Current Features

Negative Absorption in Multi-Tenant Office Market Reaches 1.8 Million Square Feet for 2009

Slow growth? Twin Cities multi-tenant office landlords would settle for a no-growth economy today. Vacant office space continued to pile up during the second half of 2009. Vacancy soared to 19.6%—22.3% with sublease space—the highest rate in nearly 20 years.

January 2010

Market Remains Cool for Twin Cities Commercial Real Estate Investors

From an investment standpoint, the Twin Cities multi-tenant commercial real estate market was frozen during the last six months of 2009. Transaction activity declined significantly across all product types as the impact of the economic downturn continued to snowball across the market.

January 2010

Recession Continues to Cast Shadow Over Twin Cities Retail Market: Vacancies Increase, Rates Are Slashed

Vacancies across all Twin Cities retail product types increased as retailers struggle during this recession and close or downsize stores. A record-setting 10.1%—or 6.8 million square feet—is vacant. This downward trend is expected to continue into 2010 as consumers face economic uncertainty, unemployment remains high, and more retailers are forced to trim operations and delay expansion.

January 2010