01Office
- Vacancy
- 13.4%
- Sublease
- 218,000 SF
- Absorption
- +142,000 SF
- Under construction
- 85,000 SF
- Asking rate
- $27.40
- Year on year
- +2.6%
Quoted full service gross.
- Home
- Submarkets
- West End and Golden Valley
West End and Golden Valley
The strongest suburban office submarket in the metro, and the one place outside the core with real medical office depth.
- St. Louis Park
- Golden Valley
- Hopkins
- Office vacancy
- 13.4%
- Asking rate
- $27.40
- Year on year
- +2.6%
- Access
- Highway 394 and Highway 100, ten minutes to downtown
Reading the submarket
The 394 corridor from downtown out to Highway 169 has absorbed more office demand than any other suburban submarket in the last five years, for two reasons. Parking is structured and included rather than contracted separately, and the drive from the western suburbs where a lot of the workforce lives is genuinely short.
Rates reflect it. Class A office here asks in the mid to high twenties on a full service basis, which is above Minneapolis CBD on a gross comparison once parking is counted. Tenants pay it because the effective commute cost for their staff is lower.
Medical office is the corridor's second strength. Parking ratios of 5.0 to 6.0 per thousand, which general office buildings cannot offer, plus proximity to the Park Nicollet and Methodist campuses, make this the default answer for a practice that needs to be west of the river.
Current fundamentals
Seven metrics per property type. Sublease availability is listed separately because it competes with direct space on price and the headline vacancy figure hides it.
| Property type | Vacancy | Sublease available | Net absorption | Under construction | Asking rate | Structure | Year on year |
|---|---|---|---|---|---|---|---|
| Office | 13.4% | 218,000 SF | +142,000 SF | 85,000 SF | $27.40 | Full service gross | +2.6% |
| Retail | 5.8% | 11,000 SF | +52,000 SF | 24,000 SF | $31.20 | NNN | +3.4% |
| Industrial | 2.9% | 34,000 SF | +61,000 SF | 0 SF | $12.10 | NNN | +6.2% |
02Retail
- Vacancy
- 5.8%
- Sublease
- 11,000 SF
- Absorption
- +52,000 SF
- Under construction
- 24,000 SF
- Asking rate
- $31.20
- Year on year
- +3.4%
Quoted nnn.
03Industrial
- Vacancy
- 2.9%
- Sublease
- 34,000 SF
- Absorption
- +61,000 SF
- Under construction
- 0 SF
- Asking rate
- $12.10
- Year on year
- +6.2%
Quoted nnn.
Sample Illustrative figures for a demonstration website. Real submarket research is published quarterly and is available on request.
Available in West End and Golden Valley
01Retail
Shops at West End, Pad C
1621 West End Boulevard, St. Louis Park
- New to market
- Size
- 4,850 SF
- Base rate
- $32.00
- Gross
- $46.20
An endcap with 88 feet of frontage, a grease interceptor already in place and a patio easement on the south elevation.
Space detail02Medical office
Bassett Creek Medical Office, Suite 210
6100 Golden Valley Road, Golden Valley
- Available
- Divisible
- Size
- 9,100 SF
- Base rate
- $27.75
- Structure
- Full service gross
Twelve exam rooms already built, plumbed and vented, on a full service gross structure with a 5.6 per thousand parking ratio.
Space detail
Who covers it
Priya Raghunathan
Director, Investment sales
Priya leads investment sales, working with private capital, family partnerships and 1031 exchange buyers on assets between two and twenty five million dollars. She trained as an accountant before moving into brokerage, and it shows in the underwriting.
Nearby submarkets
01Office
02Office
03Industrial
Looking at West End and Golden Valley
We will send the current availability set, the comparable deals we know about and an honest view of what the submarket will actually agree to.