Metro industrial real estate market best since 2007


Expect to see fewer 'For Lease' signs on office space, warehouses and showrooms in the Twin Cities.

Okay, we know the developers of industrial real estate seldom actually hang signs to attract tenants. But attracting them they are. A second-quarter report produced by Colliers International finds that the vacancy rate for industrial real estate in the metro area dropped below 10 percent for the first time since 2007.

The vacancy rate for all types of industrial real estate in the Twin Cities is 9.9 percent. That's down from the first quarter rate of 10.3 percent.

The Business Journal breaks down the segments, reporting that the office-warehouse segment is performing the strongest, with a vacancy of 8.7 percent. The bulk warehouse vacancy rate stands at 9.3 percent, while the weakest segment is the office showroom market, with a vacancy rate of 15.1 percent.

Colliers reports that a number of large industrial development projects are underway, including those in Fridley, Shakopee, Roseville and Inver Grove Heights.

Next Up

Jorge Polanco

Shoemaker, Twins lineup rebounds against Tigers

Jorge Polanco homered in a 7-3 victory over Detroit.

Kirill Kaprizov / Minnesota Wild

Watch: Kaprizov's OT winner lifts Wild into 2nd place in West

Kaprizov's goal gave the Wild a 3-2 victory over the Ducks.

Byron Buxton

Buxton placed on IL, Trevor Larnach called up

Buxton could be out "for weeks" with a hip strain.

A bald eagle perched on branches.

USFWS confirms 2 bald eagles were shot dead

The agency is offering a reward for information in the case.

A newborn baby, wrapped in a blanket with its mother.

Most popular baby names includes one not in top 10 for 100 years

But Olivia and Liam once again led the way for girls and boys.

Minnesota Lottery

Names of big Minnesota Lottery winners to be kept private thanks to new law

The Minnesota Legislature passed the bill unanimously and Gov. Tim Walz signed it into law this week.

FLickr - COVID-19 vaccination - Commander, U.S. Naval Forces

All 8 state COVID-19 vaccine sites now accept walk-ins

Adults can get a no-cost vaccine without making an appointment.


Report: Vikings owners nearing purchase of Orlando City MLS franchise

The Wilfs reportedly attempted to buy the Minnesota United expansion franchise years ago.

bemidji paul bunyan

Video shows the moment someone broke the Paul Bunyan statue's arm

Police are asking for the public's help to identify those involved.

bridgeman's food truck duluth

Last remaining Bridgeman's Restaurant is launching a food truck

The Duluth restaurant is the only remaining full-service Bridgeman's in business.

FLickr - electric drive vehicle charging - Open Grid Scheduler

Minnesota can move ahead with Clean Cars program, judge says

She recommended the proposed rules be adopted.