2023 Office Space Rent & Sales
- $28.25 2023 Avg. Asking Rent
- 1.00% Y-o-Y Avg. Asking Rent Change
- 20.94% 2023 Office Vacancy Rate
Minnetonka office price per square foot in 2023 was $28.25 on average. This marked a +1.00% change in office space price per square foot compared to the previous year. The local office market recorded an average vacancy rate of 20.94% across all asset classes combined.
See how this market compares to the national average: U.S. office space rent & sales.
Average Rent by Office Class
2023 Average Office Rent per Square Foot
- Minnesota Class A & A+ Office Space$31.15
- Minnesota Class B Office Space$23.44
- Minnesota Class C Office Space$26.99
Minnetonka, MN Office Asking Rents by Class
Office Spaces for Rent in Minnesota
Coworking Spaces in Minnesota
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| Office building | Address | SF | Completed |
|---|---|---|---|
| Crescent Ridge Corporate Center I | 11100 Wayzata Blvd, 55305 | 272,723 | 1998 |
| Pondview Plaza | 5850 Opus Pkwy, 55343 | 122,183 | 1997 |
| 12600 Whitewater Dr Bldg | 12600 Whitewater Dr, 55343 | 73,000 | 1997 |
| Carlson World Headquarters | 701 Carlson Pkwy, 55305 | 313,495 | 1988 |
| 601 Tower at Carlson | 601 Carlson Pkwy, 55305 | 283,233 | 1988 |
| Minnetonka Corporate Campus II&III | 12800-12900 Whitewater Drive, 55343 | 157,496 | 1987 |
| 12301 Whitewater Drive | 12301 Whitewater Drive, 55343 | 66,133 | 1985 |
| Baker Road Corporate Center - 4350 & 4400 Baker Road | 4400 Baker Road, 55343 | 167,190 | 1984 |
| Whitewater Office Center I & II | 12501 Whitewater Drive, 55343 | 146,493 | 1984 |
| Clearwater Corporate Center | 6000 Clearwater Dr, 55343 | 97,147 | 1984 |
Worth noting among recent office completions on the Minnetonka market is Crescent Ridge Corporate Center I, which is currently the largest new office development in the city, at 272,723 square feet.
See reports for other markets
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This market stats report is based on analysis of city-level data that includes office properties equal to or larger than 25,000 square feet in size. Averages were calculated based on values dated January 1st 2023 through December 31st 2023. Construction pipeline data represented herein is valid as of April 2024. The information on this page was compiled using data provided by CommercialEdge, a market intelligence solution which offers comprehensive real market knowledge on all Minnetonka commercial properties sized 25,000 square feet or larger.
While every effort was made to ensure the accuracy of the data presented in this report, the information is provided “as is” and neither CommercialCafe nor CommercialEdge can guarantee that the information provided is complete.