Minneapolis–St. Paul office market report
Q3 2025
The Minneapolis – St. Paul office market has shown continued signs of stabilization through Q3 2025. Leasing activity remains in line with post-pandemic averages, with suburban users still accounting for much of the demand despite renewed activity within the Minneapolis CBD, sparked by several large employers increased return to office efforts. The development pipeline has grown, with an additional office project breaking ground this quarter. Overall, Q3 provides optimism for the Minneapolis – St. Paul office market, as construction activity has increased, with interest rate cuts providing a boost in confidence, and office utilization appears to be trending upwards.
Total leasing volume YTD in 2025
Total availability
In Q3 2025, suburban submarkets accounted for nearly 65% of the total space leased in the third period of the year.
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