Minneapolis-St. Paul industrial
real estate market reports
Historically tightened labor market conditions were halted by the pandemic with nearly 215,000 job losses between February and May 2020. However, reopening efforts enabled the economy to add 7.2% jobs since May 2020 bringing the unemployment rate to 3.8%.
Local employment in Mining, Logging, and Construction rose by 14.4 percent over the last 12 months, the second-highest job growth by sector following the Leisure & Hospitality industry.
Minneapolis-St. Paul's vaccination rate of 54.5% has surpassed U.S. averages, an important metric that has allowed the cities to loosen restrictions.
Industrial sales activity has surged +2.27% against the prior five-year average due to stronger fundamentals.
Leasing has not let up during the pandemic and is expected to surpass previous highs by the end of 2021.
Pricing for Minneapolis-St. Paul's industrial assets have risen through the pandemic as an influx of investors seek exposure to properties that can accommodate the rise of e-commerce distribution.
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