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NIP
<br /> All of its vacancy is located in Mounds
<br /> View Business Park G. No new BULK NUMBER TOTAL TOTAL AMOUNT VACANCY NET
<br /> warehouse development is scheduled for MARKET SECTOR STUDY DATE OF BLDGS RENTABLE AREA VACANT RATE ABSORPTION
<br /> this sector in the next year; however COMBINED OS/BC,0/W,BULK MARKETS
<br /> there are high-flex/high-ceiling buildings Anoka County 3rd Qtr 1993 9 600,146 40,810 6.8% 19,248
<br /> 63
<br /> 238
<br /> proposed as part of the City of 3rd Qtr 1994 9 600,146 41,430 1.9%3rd Qtr 1995 9 600,146 23,792 , ) •
<br /> Roseville's I-35W Gateway project, 41.0%o 23,63
<br /> where a developer has yet to be named Dakota County 3rd Qtr 1993 85 5,941,618 866,902 14.6,a 424,510
<br /> for the 34-acre site. 3rd Otr 1994 85 5,941,618 808,179 13.6% 58,123
<br /> 3rd Otr 1995 87 6,267,069 692,636 11.1% 360,064
<br /> NORTHWEST Minneapolis 3rd Otr 1993 23 1,898,750 214,948 11.3% 77,855
<br /> 3rd Qtr 1994 25 2,110,215 210,150 10.0% 216,263
<br /> With only 5,000 sq. ft. of space 3rd Otr 1995 25 2,108,750 225,164 10.7% (15,014)
<br /> presently available in this entire submar- Northeast 3rd Otr 1993 82 5,119,602 531,569 9.2% 105,721
<br /> ket of 1.7 million sq. ft., a record-break- 3rd Otr 1994 90 6,186,911 410,190 6.6% 528,688
<br /> ing low vacancy rate of .3% was report- 3rd Otr 1995 91 6,262,397 378,256 6.0% 107,134
<br /> ed by the Northwest Sector BULK Northwest 3rd Otr 1993 61 4,752,402 538,288 11.3% 427,839
<br /> market for third quarter 1995. A total of 3rd Otr 1994 62 4,996,037 332,644 6.7% 449,279
<br /> 39,168 sq. ft. was absorbed at an absorp- 3rd Qtr 1995 63 5,170,949 272,702 5.3% 132,950
<br /> tion rate of 2.3%.These tight conditions Scott County 3rd Otr 1993 n/a n/a n/a n/a n/a
<br /> make this submarket ripe for develop- 31d Otr 1994 4 221,240 37,350 16.9% n/a
<br /> ment, however very little is currently 31d Qtr 1995 4 221,240 18,750 8.5% 18,467
<br /> planned. St.Paul 3rd Qtr 1993 37 3,038,417 311,841 10.3% 363,758
<br /> Average quoted net rents rose by 3rd Otr 1994 38 3,133,604 292,836 9.3% 114,192
<br /> 3% for warehouse space to $3.31 psf, 3rd Otr 1995 39 3,213,857 243,670 7.6% 150,159
<br /> however while office rates remained the Southwest 3rd Qtr 1993 212 11,981,283 1,427,559 11.9% 280,247
<br /> same at$6.85 psf. 3rd Otr 1994 212 11,981,319 1,254,620 10.5% 172,970
<br /> 3rd Qtr 1995 212 12,003,845 782,254 6.5% 591,097
<br /> SOUTHWEST West 3rd Otr 1993 108 6,998,409 1,202,036 17.2% 421,542
<br /> 3rd Qtr 1994 108 6,999,409 601,595 8.6% 601,441
<br /> Due to significant leasing activity in 3rd Qtr 1995 108 1,166,950 430,667 6.0% 381,371
<br /> the 10901 Hampshire building in Metropolitan 3rd Otr 1993 617 40,996,627 5,133,948 12.6% 2,120,720
<br /> Bloomington and the addition to this Totals 3rd Otr 1994 633 40,176,499 3,994,994 9.5% 2,134,936 •
<br /> survey of the fully occupied 7400 Bush 3rd Otr 1995 639 43,070,070 3,067,891 7.1% 1,784,866
<br /> Lake Road building, the Southwest ©Towle Real Estate Company
<br /> Sector reported strong absorption of
<br /> 183,400 sq. ft. This lowered its vacancy
<br /> rate from 12.9% to 5.5% for third
<br /> quarter 1995, the lowest it has seen in
<br /> eleven years. NET ABSORPTION
<br /> Rental rates in the Southwest 1.3%
<br /> Sector rose 1.8% for office space to$6.50 1995 MINNEAPOLIS/ST. PAUL METRO AREA
<br /> psf and 3.6% for warehouse space to ANNUAL NET
<br /> $3.42 psf. SECTOR ABSORPTION (SQ.FT.) g � t
<br /> 3k�'Z
<br /> ST. PAUL ANOKA COUNTY 23,638
<br /> DAKOTA COUNTY 360,064 k 23 3% _
<br /> Little change was experienced in the
<br /> St. Paul BULK market with negative MINNEAPOLIS (15,014)
<br /> absorption of 2,297 sq. ft. raising its S NORTHEAST 101,134
<br /> vacancy rate slightly from 9.6% in 1994 NORTHWEST 132,950
<br /> to 9.8% for third quarter 1995. Though ST.PAUL 150,159 1%
<br /> in previous years St. Paul has been a SCOTT COUNTY 18,467
<br /> fairly tight market,there is BULK space SOUTHWEST 591,097
<br /> now available in Midway Industrial Park WEST 416,371 6611m: --.Mj
<br /> and in the North Prior industrial area.
<br /> TOTAL 1,784,866 %OF TOTAL INDUSTRIAL ABSORPTION
<br /> ©Tm le Real Estate Company
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