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Article: Commercial property sales volume fell last year; Tight credit markets led to far fewer big deals for Twin Cities area office, retail, industrial and multifamily properties.(BUSINESS)
- Article from:
- Star Tribune (Minneapolis, MN)
- Article date:
- March 6, 2009
- Author:
CopyrightCOPYRIGHT 2009 Star Tribune Co. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: SUSAN FEYDER; STAFF WRITER
Last year's sharp drop in commercial property sales rippled across virtually every segment of the Twin Cities-area market, and in some cases more severely than other parts of the country. The dollar value of office property sales in both downtown Minneapolis and St. Paul fell nearly 90 percent, compared with a 73 percent drop for central business districts nationwide. The figures were compiled by two widely quoted real estate research firms, Real Capital Analytics of New York and LoopNet of San Francisco. The average price per square foot for office space sold in downtown Minneapolis and St. Paul decreased 23 percent while ...
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