Office Product to the NW of Nicollet Mall Continues to Fare Better Than the SE

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JLL’s Chart of the Week:
Office Product to the Northwest of Nicollet Mall Continues to Fare Better than the Southeast

Office Product around Nicollet Mall
Source: JLL Research

Office product in the CBD area northwest of Nicollet Mall has historically performed better than the southeastern part of the CBD, and that trend has only become more pronounced. Even with T3 delivering fully vacant this quarter, total vacancy on the northwest side of Nicollet is 0.9 million square feet (m.s.f.) with an average building vacancy rate of 12.3%. Comparatively, to the southeast of Nicollet Mall, total office vacancy is 2.9 m.s.f. and the average building vacancy rate is 16.9%.

Click to download JLL’s Chart of the Week: October 24, 2016

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