When you think of Minneapolis’ brick, industrial roots, look no further than the Warehouse District. This up-and-coming part of Minneapolis’ Downtown core is garnering attention in the commercial real estate scene, as the character-filled brick and timber buildings are perfect for emerging small businesses and creative design firms.
Aside from aesthetically pleasing and flexible office space, the Warehouse District offers its residents and workers access to a unique part of Minneapolis’ culture. The Warehouse District is home to Northeast Minneapolis Arts District — an area populated by artists working in historic and repurposed industrial buildings. In the Warehouse area’s Arts District, companies are surrounded by creativity; a diverse mix of restaurants, art galleries, parks, and studios fill the area.
Warehouse District Office Space | Lease Data & Trends
|Class A||Class B||Vacancy|
|Downtown Saint Paul||$26/sf||$22/sf||15%|
Housed within Downtown Minneapolis, commercial real estate in the Warehouse District is booming. The first quarter of 2018, real estate transactions in the Warehouse District contributed to a substantial $363.4 million in sales for the central business district.
Given the recent record of strong sales, it’s no surprise that commercial rent prices in the Warehouse District are higher than those of Southwest Minneapolis or St. Paul. Across all building classes, the current overall asking rent for office space in the Warehouse District is nearly $28 a square foot. And Class A office space in the Warehouse District is even more expensive, averaging nearly $33 a square foot.
What Our Brokers Say About Warehouse District Office Space for Rent
Offices in Minneapolis’ Warehouse neighborhood enjoy a wealth of amenities. Due to the area’s recent spike in popularity, employees who work in this thriving Downtown district benefit from a range of attractions, parks and plazas, and convenient public transit options.
The boundaries of the Warehouse District are Central Avenue on the East, the Mississippi River on the West, 26th Avenue on the North, and Broadway on the South within Minneapolis’ broader Downtown. The footprint of growth within these boundaries only continues to surge. Advertising agencies, artist studios, production companies, and tech start-ups are vying for unique office space in the Warehouse District.
Many prominent companies have established office space in Minneapolis’ Warehouse District. Space150, an independent digital agency with partner offices in New York City and Venice, occupies a former industrial warehouse space in the heart of the area. PowerObjects, a technology leader that parters with Microsoft to deliver Dynamics 365 solutions, also resides in the Warehouse District. Other notable companies include: Capsule, Studio M Architects, RED Experience Design, Wink Minneapolis, and Modern Climate.
The most sought-after commercial real estate in this Minneapolis area are industrial warehouses from the 1800s that have been converted into Class A office space. The Colonial Warehouse, a building on the National Register of Historic Places, is a prime example of reimagined office space in the area. Originally built in 1885, this five-story property has been reimagined with luxe amenities and modern conveniences, without losing the structure’s timeless details — like high ceilings, exposed brick walls, wood beams and original double-height arched bay windows. Today the building honors its historically rich past, while housing modern co-working spaces and creative firms, exemplifying the unique character of the Warehouse District.
Getting Around Downtown the Warehouse District
As part of the central business district, Minneapolis’ Warehouse District offers choice access to the city’s varied transportation system. Whether you prefer to travel by bus, rail, bike, or foot, the Warehouse District is commuter friendly.
As part of Downtown core, employees in the Warehouse District take full advantage of the impressive skyway system. For commuters who live within proximity to the Warehouse District, the skyway system offers an ideal commute — especially in the winter months. Commuters can travel all the way from one end of Downtown into the heart of the Warehouse District without passing through seasonal elements until they reach home at the end of their trek.
If you’re looking for alternative transportation options in the Warehouse District, the city offers award-winning light rail and bus systems. The METRO light rail runs through the heart of the district along 5th St North, with notable transportations hubs including Nicolett Mall, Warehouse District/Hennepin Ave, and Target Field Platform. The Northstar Commuter Rail also departs from the Warehouse District’s west end. And if you choose to commute to the neighborhood by car, the I-94 North/West and I-394 West are easily accessible.
Get to Know the Warehouse District
Once rundown and dormant, Minneapolis’ Warehouse District has transformed into one of the city’s most vibrant areas. After work, locals enjoy the area’s dynamic cultural scene where there’s something for everyone. For sports fans, the Warehouse District offers two athletic arenas: Target Center, where basketball teams the Timberwolves and the Lynx play, and Target Field, where you’ll find Minnesota Twins running between bases. For art lovers, the neighborhood is brimming with murals, sophisticated galleries, and artist buildings with open studios, like the California Building and the Solar Arts Building.
The Warehouse District also offers some of the best bites in the city. Popular restaurants include: The Bachelor Farmer (a James Beard recognized spot that even includes a hidden speakeasy), Spoon and Stable (the trendiest place to eat Mid-West cuisine), Parlour (a critic’s favorite for mouth-watering burgers), and Monte Carlo (an old fashioned spot to enjoy a good drink).
If you’re curious enough to visit Minneapolis’ Warehouse District, it won’t take long for you to see the opportunities that await in this city’s unique area.