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Local CRE Trends

Local Commercial Real Estate Trends

Discover What’s New and Interesting in Our Backyard

The Minneapolis-Saint Paul region is currently experiencing its biggest decade of growth since the 1920s, with recent estimates from the Metropolitan Council indicating a 10 percent growth since 2010. The metro area has a population of 3.52 million, making it the 16th largest metro in the U.S., and the population is projected to grow to by roughly 12 percent over the next 20 years.

Following population growth trends, the region’s labor force has grown by 4.6 percent over the last five years, which exceeds national averages, according to the Minneapolis Saint Paul Regional Economic Development Partnership. The growth is expected to continue its upward trend. The influx of new residents join a highly educated workforce, where 37 percent of the population aged 25 and older hold a bachelor’s degree or higher.

The Minneapolis-Saint Paul region is home to more Fortune 500 companies per capita than anywhere else in the world. The region’s diverse business community – representing the healthcare, biotechnology, energy, business services, transportation, and manufacturing industries, among others – creates a favorable climate for commercial real estate. Minnesota is one of few states in the U.S. to exempt energy used in the manufacturing process from sales tax, according to the Minneapolis Saint Paul Regional Economic Development Partnership, which results in significantly lower tax rates.

With its strong labor force and pro-business climate, the commercial real estate market in Minneapolis is poised for growth.

About Fidelity National Financial

Fidelity National Financial, Inc. (FNF) is currently ranked #302 on the 2018 Fortune 500, and is among numerous defense, energy, media, hospitality and financial Fortune 500 companies based in the region. Our Minneapolis-based team of CRE professionals works in all facets of the industry, including power and energy projects, office buildings, industrial parks, multifamily housing, retail properties, government contracts, corporate transactions and more.

Discover what’s new and interesting in our backyard in the latest real estate news, provided courtesy of the FNF Newsdesk.

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JAMES W. DIERKING
Winthrop & Weinstine, P.A.
Minneapolis, MN