Hi drutman,
I'm sorry if you've been waiting for an answer, some questions do take
longer than others.
>> MINNEAPOLIS
RETAIL OVERVIEW 2005 Year-End MINNEAPOLIS/ST. PAUL, MINNESOTA
"Strong retailer demand and diminishing supply of available space
enabled landlords to increase rents during 2005. The average asking
rent for all property types increased 6 percent to $21.48 psf as
vacancy in the Minneapolist/St.Paul retail market dropped through the
year. More than 2.7 million square feet of space were absorbed in the
market, driving the overall vacancy rate down 1.3 percentage points
from 7.7% in 2004 to 6.4% in the fourth quarter of 2005."
[see table for more details]
CUSHMAN & WAKEFIELD MARKET/SUBMARKET STATISTICS
Submarket Asking Low High
CBD $21.91 $13.50 $17.00
Northeast $18.62 $12.50 $16.50
Northwest $20.72 $12.00 $16.00
Southeast $27.70 $15.00 $16.00
Southwest $19.85 $16.50 $20.00
Market Total $21.48 $14.00 $17.00
Center Type Asking Low High
CBD $21.91 $13.50 $17.00
Neighborhood $13.20 $12.00 $16.00
Community $18.84 $18.00 $22.00
Regional $37.86 $20.00 $40.00
Market Total $21.48 $14.00 $20.00
http://www.northstarpartners.net/Downloads/MarketBeats/2005YearEndRetailSnapshot.pdf
Minneapolis - St. Paul
Retail Asking Rent Range by Center Type
In-Line shop Space, $/Mo/Yr. NNN
Unanchored Strip $12 - 19
Community $15 - 22
Regional Mall $25 - 35
http://www.northco.com/pdf/2006Mpls.pdf
>>> NATIONAL
National Retail Report 2004 [see table for more cities and details]
Community Center Neighborhood Power Center
High Low High Low High Low
Atlanta, GA 30.00 8.00 34.00 7.00 20.00 10.00
Bakersfield, CA 27.00 12.00 24.00 11.00 14.00 10.00
Boise, ID 32.00 14.00 18.00 11.00 13.00 6.00
Boston, MA 36.00 10.00 24.00 8.00 22.00 14.00
Chicago, IL 35.00 12.00 25.00 10.00 30.00 10.00
Cincinnati, OH 22.00 13.00 17.00 9.00 42.00 17.00
Cleveland, OH 30.00 12.00 22.00 10.00 18.00 12.00
Columbia, SC 19.00 14.00 22.00 12.00 25.00 10.00
Dallas,TX 35.00 12.00 25.00 8.00 18.00 12.00
Denver, CO 28.00 12.00 14.00 6.00 10.00 6.00
http://www.colliersparrish.com/newsletters/NA.Retail.pdf
Retail Market Trends Summer 2005
http://www.grubb-ellis.com/PDF/natmrkttrnd/markettrendretail.pdf
>>> GENERAL
Colliers Reports
http://www.colliers.com/Corporate/MarketReports/UnitedStates/
An Empirical Analysis of Community Center Rents
http://sbaeweb.fullerton.edu/Finance/journal/papers/pdf/past/vol23n0102/10.163_178.pdf
I hope this is just what you were looking for (I hope everything
formats ok but if not, you'll find the tables at the links). If you
have any questions, please post a clarification request and wait for
me to respond before closing/rating my answer.
Thank you,
hummer
Some of the Google search terms used:
"average retail rent" [cities; nationwide; united states; minneapolis]
"retail rent" center type minneapolis
"retail rent" center type
annual downtown comparison survey
retail statistics rent /sf
"average retail rental"
average retail space rental prices minneapolis
average retail space rental prices
stores average rent
"retail rent" trends 2006
I also spent time at Colliers following links. |
Clarification of Answer by
hummer-ga
on
01 Mar 2006 15:58 PST
Hi drutman,
I've looked but haven't been able to find what you are looking for
regarding the Uptown Market specifically. You should be able to gain
some insight from the chart that I already gave you: Southwest $16.50
- $20.00 psf, with perhaps Uptown being closer to the higher figure
and the outskirts being closer to the lower.
"Uptown is a neighborhood in southwestern Minneapolis, Minnesota."
"The neighborhood is centered around the intersection of Lake Street
and Hennepin Avenue, just east of Lake Calhoun. Calhoun Square is the
prominent structure and contains many businesses. According to the
Uptown Association, a group of business owners and landlords, the
boundaries of Uptown are Lake Calhoun to the west, Dupont Street to
the east, 31st Street to the south, and 28th street to the north."
http://en.wikipedia.org/wiki/Uptown,_Minneapolis
I hope that helps,
hummer
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