01Retail
- Vacancy
- 3.6%
- Sublease
- 14,000 SF
- Absorption
- +74,000 SF
- Under construction
- 38,000 SF
- Asking rate
- $34.80
- Year on year
- +4.2%
Quoted nnn.
- Home
- Submarkets
- Southwest metro
Southwest metro
Corporate campuses, the strongest retail sales per square foot in the metro, and almost no land left.
- Edina
- Eden Prairie
- Minnetonka
- Bloomington West
- Retail vacancy
- 3.6%
- Asking rate
- $34.80
- Year on year
- +4.2%
- Access
- Highways 494, 212 and 62, Green Line extension
Reading the submarket
The southwest quadrant carries the metro's highest household incomes and, as a direct consequence, its strongest retail performance. Grocery anchored centres here trade at cap rates well inside what the same asset would fetch on the eastern edge, and endcap space rarely sits vacant for long.
Office is a two tier market. The corporate campus product along 494 and 212 competes directly with the West End corridor and wins on parking and loses on amenity. Smaller multi tenant buildings in Edina and Minnetonka serve professional services firms who want to be near where their partners live.
The binding constraint is land. Very little remains undeveloped, which pushes new commercial activity into redevelopment of underperforming retail and older office, with all the entitlement complexity that implies.
Current fundamentals
Seven metrics per property type. Sublease availability is listed separately because it competes with direct space on price and the headline vacancy figure hides it.
| Property type | Vacancy | Sublease available | Net absorption | Under construction | Asking rate | Structure | Year on year |
|---|---|---|---|---|---|---|---|
| Retail | 3.6% | 14,000 SF | +74,000 SF | 38,000 SF | $34.80 | NNN | +4.2% |
| Office | 17.4% | 286,000 SF | -46,000 SF | 0 SF | $24.90 | Full service gross | +0.8% |
| Industrial | 3.8% | 44,000 SF | +118,000 SF | 95,000 SF | $11.90 | NNN | +5.8% |
02Office
- Vacancy
- 17.4%
- Sublease
- 286,000 SF
- Absorption
- -46,000 SF
- Under construction
- 0 SF
- Asking rate
- $24.90
- Year on year
- +0.8%
Quoted full service gross.
03Industrial
- Vacancy
- 3.8%
- Sublease
- 44,000 SF
- Absorption
- +118,000 SF
- Under construction
- 95,000 SF
- Asking rate
- $11.90
- Year on year
- +5.8%
Quoted nnn.
Sample Illustrative figures for a demonstration website. Real submarket research is published quarterly and is available on request.
Available in Southwest metro
01Office
Bren Road Office Center, Suite 400
10801 Bren Road East, Minnetonka
- Available
- Divisible
- Size
- 11,900 SF
- Base rate
- $24.90
- Structure
- Full service gross
Full service gross with a 2027 base year, which on a five year term is worth more than the two dollars of rate you would save elsewhere.
Space detail
Who covers it
Priya Raghunathan
Director, Investment sales
Priya leads investment sales, working with private capital, family partnerships and 1031 exchange buyers on assets between two and twenty five million dollars. She trained as an accountant before moving into brokerage, and it shows in the underwriting.
Nearby submarkets
01Office
02Office
03Office
Looking at Southwest metro
We will send the current availability set, the comparable deals we know about and an honest view of what the submarket will actually agree to.