Multi-Tenant Office Space Continues to be Affected by Corporate Change

Vacancy and Absorption Trends

The third quarter in the multi-tenant office market ended with a positive absorption figure of 2,800 square feet. This minor variance from quarter two held the metro-wide vacancy rate at 15.2%. Among the subsets, Class A office was the strongest performing asset class, with a positive 130,000 square feet of absorption. The Minneapolis CBD accounted for three-quarters of that absorption.

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