IRR-Minneapolis Mid-Year Viewpoint 2015 Local Market Report - Industrial
The Minneapolis/St. Paul industrial market remains dominated by manufacturing and warehousing operations, with the fast-growing logistics and intermodal markets beginning to appear. Amazon will be building a new fulfillment center in Shakopee in 2015/2016, and will open a second facility in an existing building in 2015. The market is generally in balance, and functional space is in demand. This is especially true for space located inside the beltline freeway. New development is accelerating, and is located primarily on land in the northwest suburban corridor. Sales of both industrial and flex buildings are occurring and cap rates at at historic lows.
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IRR Mid-Year Viewpoint 2015 comprises a National Overview report and 300+ two-page Local Market Reports for all key property types as well as additional resources, including metrics methodology, graphs, and tables; these free reports may be downloaded from IRR’s site here.