North Loop is a prime-tier Minneapolis submarket with average asking rent around $38/sqft/yr.

  • Average asking rent: $38/sqft/yr.
  • Tier: prime.
  • Citywide Class A rent context: $32/sqft/yr ($32 USD).
  • Citywide vacancy: 23.7% — submarket-level availability is typically tighter at prime tier.

North Loop, Minneapolis office rents and availability

North Loop is a prime-tier Minneapolis submarket with average asking rent around $38/sqft/yr.

TL;DR

  • Average asking rent: $38/sqft/yr.
  • Tier: prime.
  • Citywide Class A rent context: $32/sqft/yr ($32 USD).
  • Citywide vacancy: 23.7% — submarket-level availability is typically tighter at prime tier.

Where rent sits

North Loop averages around $38/sqft/yr for Class A, against a citywide Class A index of 32. As a prime submarket, rent runs at or above city average with mostly tight availability.

Availability dynamics

Creative-class warehouse repositioning. Tech, creative agencies, advertising, food and beverage HQs.

Key facts

cityMinneapolis
submarketNorth Loop
tierprime
averageRentLocal$38/sqft/yr
cityClassARentUsd$32/sqft/yr
cityVacancyPct23.7%

Frequently asked questions

What is the average Class A rent in North Loop, Minneapolis?
Around $38/sqft/yr. The citywide Class A index sits at $32/sqft/yr.

Related

Editorial provenance

Reviewed by Miriam Hollander — Lead market analyst. Last updated 2026-04-15. See our methodology and editorial standards.

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