Q1 2021 Minneapolis Industrial Market Report

Minneapolis/St. Paul, collectively referred to as the Twin Cities, is the 16th largest MSA with approximately 3.6 million residents and home to 17 fortune 500 public companies’ headquarters. The Twin Cities is also ranked highly for quality of life, labor force participation, health care, and workforce quality. The Twin Cities’ industrial market consists of approximately 263 million square feet. The Minneapolis/St. Paul Minnesota’s job market continues to recover from the negative impacts brought on by COVID-19. In February 2021 Minnesota’s unemployment rate had improved to 4.4%, roughly 2 percentage points below the national average of 6.2%.