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St Paul Office Space For Rent

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St. Paul Office Space for Rent

As one of the pillars of the “Twin Cities,” St. Paul complements neighboring Minneapolis. While Minneapolis is known for its vibrant nightlife and its cosmopolitan office space, St. Paul offers a more relaxed environment where companies thrive off of the area’s diversity and communal culture.

St. Paul is the capital of Minnesota, and it’s home to a wealth of corporate and government offices. But it’s not only a place for people to work, St. Paul offers its residents and visitors a wealth of cultural amenities and up-and-coming corners of the city. After exploring the stunning Minnesota State Capitol designed by Cass Gilbert, visit St. Paul’s notable icons like the dinosaur-filled Science Museum of Minnesota, the interactive Minnesota History Center, and the beautiful beaux arts Cathedral of Saint Paul.

If you’re looking for a more relaxed business atmosphere, consider leasing space in St. Paul. To learn more about commercial office space in St. Paul filter through our real-time listings by location, size, and number of employees, and check out the rest of our city guide for everything else you need to know about finding office space in the heart of St. Paul.

St. Paul Office Space | Lease Data & Trends

Class AClass BVacancy
Downtown Minneapolis$33/sf$27/sf17%
Downtown St. Paul$26/sf$22/sf15%
Minneapolis Suburbs$31/sf$23/sf16%

 

Commercial real estate in St. Paul shares a vital connection with the industry in neighboring Minneapolis. While Minneapolis’ central business district boasts over four times as many square feet of commercial real estate inventory, St. Paul’s central business district contributes over 6.6 million square feet of leasable commercial property to the Twin Cities’ shared business scene. In fact, some of the biggest Q1 commercial lease transactions in the Twin Cities area occurred in St. Paul. The IRS renewed their lease for a 56,144 square foot property in the heart of St. Paul’s business district.

St. Paul is only a 10-minute drive from Downtown Minneapolis, yet St. Paul offers companies a notable rent discount. The current overall asking rent for office space in St. Paul’s central business district is $23 a square foot, compared to Minneapolis’ central business district, where rents average $28 a square foot. Class A office space in St. Paul is still relatively affordable, with average rents hovering around $24 per square foot — which is cheaper than the average price for Class B office space in Minneapolis.And while Downtown Minneapolis is experiencing the majority of the construction boom in the Twin Cities, St. Paul’s central business district still boasts 55,000 square feet of new commercial property under construction.

What Our Brokers Say About St. Paul Office Space for Rent

The relaxed vibe, the diverse culture, and the presence of Fortune 500 headquarters make St. Paul a desirable neighborhood for commercial tenants. Current companies in St Paul include Bremer Financial Corporation, Eco Lab, Pearson’s Candy Company, Securian Financial Group, and Patterson Companies.

While there’s a variety of office space in St. Paul, most commercial space is available at office parks. Outside of the central downtown area, companies establish corporate headquarters along popular thoroughfares like Energy Park Drive and Como Avenue. Office parks and commercial plazas thrive here due to easy access to freeways, proximity to public transportation options, opportunities to expand, and visibility to the major thoroughfares.

Getting Around St. Paul, MN

If you commute by car, a network of freeways and interstates makes it easy for you to travel to the heart of St. Paul. Most commuters utilize the I-35, which runs north to south, and the I-94, which runs east to west. These major highway systems shuttle locals in and around St. Paul and Minneapolis’ suburbs.

If you prefer to travel by public transportation, St. Paul offers a variety of options. The Twin Cities’ Metro Transit provides commuters with a robust network of bus lines that run throughout St. Paul and neighboring Minneapolis. Another budget-friendly transportation option is the light rail system. The interlinking rail system has four lines that connect the Twin Cities pillars and their surrounding suburbs, but most St. Paul locals use the Green Line, which offers over 20 stops between St. Paul’s Union Depot and Minneapolis’ Target Field.

If you’re concerned about airport transportation for client visits, trips to corporate headquarters, and out of town travel, rest assured that St. Paul makes airport travel easy. Taxis can travel to the Minneapolis – St. Paul International Airport in under 15 minutes from Downtown St. Paul. And if you opt for public transit, the Light Rail Trains stop at two airport terminals and connect passengers to 17 urban stations. Whether you travel to the airport by car, bus, or rail, the Minneapolis – St. Paul International Airport is a quick trip, only eight miles from the heart of St. Paul.

St. Paul Neighborhood & History

While neighboring Minneapolis has always been the geographically larger Twin City, St. Paul holds its own significance and culture. For well over a century, Minneapolis carried the torch of a strong industrial mill city; whereas St. Paul established its niche as a railroad town, earning the frontier title of “The Last City in the East.”

Today, St. Paul is more influenced by its role as Minnesota’s capital and its thriving commercial scene. Fortune 500 companies choose St. Paul for its livability and its proximity to neighboring business meccas. In particular, the banking industry is flourishing in St. Paul. Financial companies establish large corporate offices in popular downtown structures, such as Lowertown’s Commerce Building, and The Travelers Companies even chose St. Paul as the home for its headquarters.

In addition to its commercial scene, the city offers a wealth of entertainment options. Locals and visitors alike are attracted to St. Paul’s array of amenities. The waterfall-filled Minnehaha Regional Park is a popular place for locals to catch a reprieve from a busy workday. Likewise, the Como Park Zoo and Conservatory is a popular place to admire local flora and fauna while letting kids delight in animals. Other popular destinations in St. Paul include the 72-mile Mississippi National River and Recreation Area and the lakeside trails at Fort Snelling State Park.