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Key findings in this report:
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Mike Ohmes
Sr. Vice President, Director Brokerage
United Properties
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Twin Cities office and industrial property landlords are in a position to raise rental rates at an accelerated pace over the next six to 12 months, with higher-quality Class A office properties and office-showroom industrial properties leading the way. New demand for space, supported by continuing economic growth, will quicken the pace of rental rate increases. New construction activity is also impacting rental rates: in addition to higher land costs, construction costs are 25-30% higher than a decade ago, and the new properties coming to market are priced accordingly. Read more
This Perspective represents commentary and analysis of key issues, trends and developments affecting the Twin Cities commercial real estate industry from the perspective of a United Properties expert.
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