Minneapolis commercial real estate
The Avison Young Minneapolis office provides commercial real estate services to property owners and occupiers
Avison Young Minnesota offers a full suite of commercial real estate services to best meet the needs of our customers and clients. Centrally located in the Twin Cities, we readily serve the metropolitan area, and greater Minnesota and Wisconsin.
Our experienced team of commercial real estate advisors cover all major industry sectors including office, industrial, retail, multi-family, and hospitality. Our services include but not limited to, consulting, capital markets, leasing, property management, and project management.
Avison Young is grounded on a unique foundation of partnership. Our Principals are both the owners and leaders - the shareholders and team managers - of our business. This model allows us the freedom to configure and re-shape our team and expertise around your business demands, ensuring that your commercial real estate needs will always be met.
Minneapolis commercial real estate services
Avison Young’s brokerage teams in Minnesota have consistently completed major leasing and sales transactions across all asset types. We’ve worked on the behalf of tenants, landlords, investors, vendors, and buyers alike, including many large national and international corporate clients.
Whether you are an owner, investor, occupier, or developer, our team delivers results aligned with your strategic business objectives, supporting real estate initiatives that add value and build a competitive advantage for your organization. Pair our commercial real estate experts’ critical market knowledge with the best technology in the industry, and you will gain solutions carefully tailored for you.
Find Minneapolis properties for sale or lease
Search Avison Young’s Minneapolis commercial real estate listings for sale and lease to find the right commercial property for you. Our investment and leasing opportunities include office, industrial, warehouse and retail properties.
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LeaseActiveOFFICE LEASEMedical7590 Lyric Ln NE
Fridley, MN 55432 -
Lease SaleActiveOFFICE FOR SALE OR LEASEOffice Building230 W Superior Street, Duluth, MN 55802
Duluth, MN 55802 -
Lease SaleActiveRETAIL, SHOWROOM, AND OFFICE/TECH PROPERTY FOR LEASE OR SALEOffice Building1500-1550 Minnesota 36
Roseville, MN 55113 -
LeaseOFFICE SPACE FOR LEASEOffice Building4825 Olson Memorial Hwy
Golden Valley, MN 55422 -
LeaseActiveOFFICE SPACE FOR LEASEOffice Building7077 Northland Cir. N
Brooklyn Park, MN 55428 -
LeaseActiveRETAIL FOR LEASERestaurant5185 Meadville Street
Greenwood, MN 55331 -
LeaseActiveOFFICE SPACE FOR LEASEOffice Building5601 Green Valley Drive
Bloomington, MN 55437 -
SubleaseActiveOFFICE SUBLEASESOffice Building241 N 5th Ave
Minneapolis, MN 55401
Minneapolis commercial real estate news
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Avison Young under new market leadership in Las VegasMarch 4, 2025 -
Avison Young named one of America's Best Midsize Employers by Forbes in 2025February 20, 2025 -
Avison Young brokers sale of three hotels near Mayo Clinic in Rochester, MinnesotaJanuary 15, 2025 -
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Avison Young bolsters Capital Markets platform with addition of Executive Managing Director of U.S. Capital MarketsJanuary 15, 2025
Minneapolis commercial real estate insights
MSP’s office market could see 260 bps reduction in vacancy following office to residential conversions identified in St. Paul’s downtown
In this data bite, we took a look at the potential market impact on MSP inventory and vacancy rates based on a separate, recently published office conversion study performed by architecture firm Gensler, on behalf of the St. Paul Downtown Alliance. In this study, 20 properties were identified as candidates for office conversions, with a number of these properties found to be potentially suitable for conversion. In Gensler’s office to residential conversion analysis, 9 office properties were noted as good candidates for successful conversions, resulting in a sharp increase of residential units in St. Paul’s downtown and the depletion of nearly 3.5 msf of vacant office space (due to proposed conversions being fully vacant), dropping MSP office inventory from 112.9 msf to 109.4 msf. This initiative will significantly impact the area, as it would reduce the market vacancy rate from 17.7% to 15.1%, a 260 basis points (bps) decline. **It should be noted that healthcare, hotel, retail, government & fully owner-occupied office properties identified by Gensler were omitted from this analysis due to our AY tracking metrics.
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MSP office leasing congregating in next-newest tier of buildings
In this data bite, we looked at the historical leasing volume by different office building construction eras. In the post-pandemic ‘Flight to Quality’, we saw leasing volume for the newest stock of properties (built 2010 and beyond) increase each year from 2020 to 2023 before plummeting in 2024. This drop in leasing volume at the newest properties does not necessarily reflect a drop in demand for high-quality spaces but is rather a result of a dwindling inventory of new-age availabilities in the market. Because of this shortage of new-age availabilities, coupled with a conservative construction pipeline, we have seen continuous year-over-year increases in leasing volume occurring within the “next-newest” tier of office properties, built in the 90’s/00’s. This trend is expected to continue in the coming periods, as the inventory of new-age availability is expected to remain low, and occupiers continue to flock to the highest-quality spaces available.
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Comparing sublease and direct office availability in the MSP area
In this data bite, we looked at the MSP Available Sublease Office space landscape and analyzed the decline in volume since peaking in Q2 2023, which consisted of considerable subleasing activity and available sublease spaces being withdrawn or remaining vacant until reverting to direct availability. Despite this sharp decline in available sublease spaces, overall total availability continues to increase.
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Higher quality offices command larger leases in Minneapolis – St. Paul
In this data bite, we analyzed the changes in the average lease size each year since 2019 in office leases within high-quality assets (Trophy/Class A), as well as lower-quality buildings (Class B/C). Average lease sizes within high-quality properties have trended down in size significantly over the past 5 years, averaging 7,919 sf in 2019 and declining over 32% to av average lease size of 5,354 sf. Alternatively, despite average lease sizes in lower-quality buildings declining by 21% since 2019, this represents a reduction of just 797 square feet. Average lease sizes in Class B/C properties have remained much more consistent in size over the past 5 years compared to the average lease sizes observed in high-quality properties.
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Our commercial real estate brokers and advisors leverage data-driven intelligence paired with deep Minneapolis knowledge. Connect with us to discuss how we can help you drive more value from your assets.