Minneapolis' retail market among tightest nationally

Conditions in Minneapolis' retail property markets are historically tight, with just 3.3% of the total amount of retail space available for lease at the end of September. That is over 150 basis points below pre-pandemic levels, substantially lower than the U.S. average of 4.7%. Across the nation's 50 largest retail markets by inventory, Minneapolis ranks fifth-lowest, the only Midwest metropolitan area to place inside the top 10. It is also a notable improvement from its position just inside the top 20 entering the pandemic.