CBRE Signs Three Workplace360 Office Leases in Minneapolis
Why this matters
Office continues to trade in two distinct markets: trophy assets in walkable submarkets that are leasing at or near record rents, and commodity Class B and C buildings where the basis is still resetting. Underwriting on the latter has moved toward replacement-cost-minus, with credit underwriting now leaning on tenant covenant and remaining lease term rather than mark-to-market expectations. Minneapolis medical office and industrial continue to outperform. Multifamily supply has cooled meaningfully entering 2026 and concessions are now retracing. For LP-positioned capital, the read-through is that the bifurcation is now a structural feature of the sector, not a cycle to wait out.
Editorial analysis · Real Estate Trail Editorial
On the RET wire
- The fourth Minneapolis story tracked on the wire in September 2026. All Minneapolis coverage →
- Disclosed office deal value tracked in September 2026: $14.7B across 78 reported transactions. All Office coverage →
- 100 stories mentioning CBRE on the wire in the past 90 days. CBRE coverage →
Computed from Real Estate Trail’s own tracked coverage
CBRE has signed three office leases across Minneapolis–St. Paul for its advisory local brokerage and business service organization businesses. CBRE signed a 15,586-square-foot lease at Arcadia, 5115 Arcadia Ave. in Ed…
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