Minneapolis will remain one of the most affordable office markets in the country in the coming year.
That’s according to the 2014 Outlook published recently by property-services company DTZ.
John Wickes, Americas head of research for DTZ and the co-author of the report, said that most U.S. office markets will remain affordable in both 2014 and 2015, with rental growths in line with inflation.
Wickes singled out Minneapolis — along with Dallas, Phoenix, Seattle and Atlanta — as being among the most affordable office markets during the next two years.
What’s behind this? According to DTZ, one of the main reasons is the limited amount of new office space delivered to these markets in the last several years.
Tenants will benefit, too, in Minneapolis and several other markets across the country. That’s because rents in all categories will rise slower than inflation, making office space particularly affordable in the next two years.