Midway Submarket Report
Minneapolis | St. Paul | Falcon Heights
Submarket Overview
The Midway submarket is a submarket that spans between Downtown Minneapolis and Downtown St. Paul in the Twin Cities metro area. It is comprised of a portion of the city of Minneapolis, a portion of the city of St. Paul, as well as the city of Falcon Heights. Top employers include the University of Minnesota (24,500 employees), the State of Minnesota (14,100 employees), and Regions Hospital (5,500 employees). The region is home to the Minnesota State Capitol, the Como Park Zoo and Conservatory, and private universities.
The Midway submarket contains approximately 14.6 million square feet of office space. The vacancy rate is at its highest at 6.2% and is expected to rise; however, this rate is substantially below the Minneapolis vacancy rate of 9.8%. There is nothing under construction currently, although approximately 42,000 SF was delivered over the past few years.
