July 24, 2014
Minnesota is a state with a high rate of civic participation. The social and political orientations of people who reside here vary. Since the majority of the residents have Scandinavian and German origins, the state has become a center of Scandinavian American culture. Agriculture, mining, and logging serve as the powers of the economy of Minnesota. Its farmland and mineral deposits account for the growth of these sectors.
Since it is one of the healthiest and highly literate states, Minnesota is an ideal site for commercial real estate. Commercial real estate listings are spread throughout the state; some of the largest companies in the U.S., such as General Mills, Best Buy, and Target, can be found in Minnesota.
As the center of business industry, transportation and education, the Minneapolis-Saint Paul metropolitan area has become the hub of different commercial real estate. The categories of Minnesota commercial real estate include office, industrial, retail, multi-family, hotel/motel, farm/ranch, land, and specialty commercial real estate.
The classification of office buildings depends on their location. It is considered a central business district (CBD) office if it can be found in the center of the city. Suburban office buildings, on the other hand, are mid-rise structures found outside the heart of the city.
Other types of commercial real estate MN are industrial in nature. Industrial properties can be heavy manufacturing, light assembly, flex warehouse, or bulk warehouse. Most manufacturers fall under heavy manufacturing since this type of property makes use of heavy machinery. Light assembly is less complicated than heavy manufacturing because it only includes product assembly, office space, and storage. On the other hand, flex warehouse is a type of industrial property that is usually a mixture of industrial and office space.
Another common type of commercial real estate in Minnesota is multifamily. It is an umbrella term for various types of apartments such as garden apartments, mid-rise apartments, and high-rise apartments. When young people started moving from the urban centers to the suburbs, garden apartments became popular. These are 3-4 story apartments that have 50 to 400 units. They do not have surface parking or elevators. Unlike garden apartments, mid-rise apartments have 5-9 stories with 30-110 units, and they have elevator services. Lastly, high-rise apartments house more than a hundred units and they often require professional management.
Hotels are also popular commercial real estate in Minnesota. They can be classified into full service, limited service, and extended stay hotels. Aside from these, retail centers wide spread in Minnesota.
If you are looking for commercial real estate in Minnesota, this website offers detailed information regarding available commercial properties in Minnesota.
Check the link below to begin searching our database of 100+ available office, warehouse, retail, medical, and industrial spaces for lease near Minneapolis and St Paul…
