Market Rental Rates

Th e gross rental rate for office space is the sum of the net rental rate and the operating expenses, including property taxes. A number of factors influence the actual rental rate in a lease transaction, including location in the building, tenant improvements, parking, lease term, credit worthiness, services, and more.

St. Paul market rental rates have stayed competitive. Overall, the median gross rental rates for all three classes of competitive space have changed only slightly this year from last.

Net rental rates have declined slightly, which is indicative of the continued trend of landlords to be willing to market space at reduced rates in order to attract or retain credit-worthy tenants. Many tenants can find full floor spaces, some furnished spaces and naming rights, all at very attractive rents.