[Mpls] Minneapolis office vacancies have gotten worse - OVER 26 MILLION SQUARE FEET!

[Erik Riese]

We might look at a high vacancy rate as getting better. More available 
space for businesses might mean lower lease prices and landlords more 
willing to negotiate on a variety of issues. This could spell real 
opportunities for small business in the urban core market.

Erik
On Feb 4, 2005, at 6:51 AM, Victoria Heller wrote:

> ".... Collier-Towle Real Estate in Minneapolis shows vacancies for the
> nearly 26 million square feet of office space available downtown 
> .....the
> amount of sublease space bumps the vacancy rate up to more than 21 
> percent.
> That's more than four times the rate for what's considered a stable 
> lease
> market." (MPR early 2003)
>
> Brauer:  This story is two years old!  Beware selective information.
>
> Heller:  The following story is only one day old!  Beware obtuse
> journalists.
>
> "According to the most recent market numbers from United Properties, 
> direct
> office vacancy in downtown Minneapolis is still 20.9 percent, or 23.2
> percent counting available sublease space". (Finance and Commerce, 
> 2/3/05)
>
> Heller:  It's gotten WORSE in the past two years Mr. Brauer.  From 21% 
> to
> 23.2% vacant, including sub-lease space.
>
> There is no hope for any improvement in Minneapolis until journalists 
> start
> doing their jobs.  Our form of government CANNOT work without honest 
> and
> timely information.  I trust the people, but only if they have FACTS 
> upon
> which to base decisions.
>
> Vicky Heller
> North Oaks and Cedar-Riverside
--
In cooperation,

Erik Riese
Seward US@:
A great place to live, work, learn, create and play.

(612) 724-3217
~~~~~~~~~~~~~~~~~~~~
mailto:riese at tcfreenet.org
~~~~~~~~~~~~~~~~~~~~