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MARKET REPORT I Q2 2013 I OFFICE I MINNEAPOLIS-ST. PAUL <br /> g_� ` i I" I ST. PAUL CBD <br /> ® >The vacancy rate in the St.Paul CBD is 18.7 >During the third quarter of 2013,nonprofits The <br /> WEST/NORTHWEST percent and absorption was 170,683 square Bush Foundation and St. Paul Foundation will <br /> MINNEAPOLIS CEO <br /> SUBURBAN 3a' feet. This vacancy rate is down from 19 absorb 36,000 square feet at US Bank Center. <br /> 12 " • • percent at Quarter One. <br /> t� s3� ST.PAUL � 0 > The high vacancy rate and numerous options <br /> CO >Greater MSP absorbed 8,000 square feet at for space will keep effective rates low and <br /> (6) '171 <br /> SOUTHWEST "'"Wy 400 Robert Street North, Regus absorbed concessions generous. <br /> AIRPORT/ <br /> OU HOF _ 12,000 square feet at Bremer Tower, <br /> THE 52I S5 J Thompson Reuters absorbed 25,000 square > Northstar Capital moved out of 25,000 square <br /> feet at UBS Plaza. feet at UBS Plaza;the company moved to the city <br /> of Eagan in the Airport/South of the River <br /> submarket. <br /> SIGNIFICANT ST.PAUL CBD ACTIVITY <br /> LEASE <br /> TENANT BUILDING ADDRESS CITY SIZE(SF) <br /> TKDA Renewal UBS Plaza 444 Cedar ST St.Paul 50,000 <br /> Thompson Reuters/West Publishing Bremer Tower 445 Minnesota Street St.Paul 25,000 <br /> Farmers Insurance Renewal&Expansion UBS Plaza 444 Cedar ST St.Paul 12,000 <br /> AIRPORT/SOUTH OF THE RIVER ST. PAUL SUBURBAN <br /> > The vacancy rate in the Airport/South of the > The vacancy rate in the St. Paul Suburban i0 . E03 M - v <br /> river submarket is up slightly to 17.9 percent submarket is 14.6 percent. Absorption during w[5Tr,oAmr'ST fig rfi <br /> from 17.5 percent in Quarter One, as the the second quarter was modest at 27,266 65 ,„„�,O,„Co y 6 o PAUL. T. <br /> submarket absorbed a negative 25,527 square square feet. roc ®�,,�,�,� <br /> feet. Is `0° ,� K. , <br /> > The former U.S. Bancorp building at 2751 SO„ITIVOAT <br /> > Eagandale Business Center sold to Eagandale Shepherd Road sold to Johnson Brothers Liquor 101.111140/ <br /> IMMO .� M <br /> Properties LLC for $1.65 million, or $45 per Co. The property has been vacant since 2011, <br /> square foot. During the economic downturn, and will likely be razed for new development. _ . <br /> ownership of the property was returned to the <br /> lender. > Vacancy is down to 14.6 percent from 17.6 <br /> percent at Quarter One.The drastic decrease in <br /> vacancy with little absorption is due to the <br /> removal of the empty, 325,820-square-foot <br /> U.S. Bancorp building from our market <br /> statistics. <br /> SIGNIFICANT EAST METRO ACTIVITY <br /> LEASE <br /> BUILDING BUILDING ADDRESS CITY SIZE(SF) <br /> Regus Bonesrtoo Bldg 2355 Hwy 36 W Roseville 15,000 <br /> SALES <br /> BUILDING ADDRESS CITY BUYER SELLER PRICE PRICE PSF SIZE(SF) <br /> 1335-1345 Corporate Eagandale American Bank of <br /> Eagandale Business Center Center Curve Eagan Properties LLC St.Paul $1,650,000 $45 36,300 <br /> Roseville Corporate Center 2700 Snelling Ave N Roseville Westport Capital C III Capital Asset $12,000,000 $52 231,685 <br /> Partners LLC Management LLC <br /> Former U.S.Bancorp 2751 Shepard Rd St.Paul Johnson Brothers Bancshares Realty $8,700,000 $26 328,500 <br /> Liquor Co. LLC <br /> COLLIERS INTERNATIONAL I MINNEAPOLIS-ST.PAUL <br />