Minneapolis Industrial Figures Q4 2025

- In the Minneapolis/St. Paul Industrial market, over 610k sq. ft. of positive net absorption was seen in Q4. Year-to-date the market absorbed over 3.6 million sq. ft.

- Construction delivered in Q4 contributed 831,664 sq. ft., bringing the year-to-date total to nearly 3.3M sq. ft, a 1.5% increase year-over-year. Build-to-suit developments constituted 80% of the 3M sq. ft. underway at year end.

- The direct vacancy rate remained consistent at 3.8%. In Q4, the East submarket had the largest drop in vacancy quarter-over-quarter, down to 6.8% from 8.9% in Q3. This is largely due to Superior Logistics occupying 252k sq. ft.

- Q4 leasing activity reached over 3M sq. ft., a 24.6% increase quarter-over-quarter. New leases signed accounted for 59.6% while renewals contributed 28.8%.

- Industrial sales volume totaled over $447M in Q4, a 22.9% increase quarter-over-quarter. The 2025 total sales volume was $1.68B.