Minneapolis is the star of a very bullish new report by the real estate giant CBRE that confirmed the conclusions of a recent column on how the smart location choice for employers is downtown.
Minneapolis downtown real estate market: Maybe NOT that cheap.
A recent report by the national firm CBRE highlighted 11 attractive Midwestern real estate markets, topped by Minneapolis. The thing is, Minneapolis rents are relatively low, which suggests rents could only be going up.
By biglee77
July 27, 2015 at 2:56PM
It turns out, however, that CBRE's rental figure for Minneapolis was not accurate. CBRE's local office contacted us this week to say that the figure highlighted in its report as "gross" rent, meaning it included operating expenses such as utilities, was in fact net rent, meaning the amount just going to the landlord for use of the space.
That means renting office space in Minneapolis is not cheaper than renting in Pittsburgh, Cleveland and other so-called secondary markets.
It was CBRE's error, but I own this one, too. It should have occurred to me that counterintuitive data that showed Minneapolis to be cheaper, even from a big firm like CBRE, should have been questioned, not reported as fact.
about the writer
biglee77
From small businesses to giants like Target, retailers are benefitting from the $10 billion industry for South Korean pop music, including its revival of physical album sales.
