Andy Pham CRE

Andy Pham CRE Realtor/Investor specializing in acquisitions, leasing, and investment analysis. Invest with insight. Build with purpose. Grow with confidence.

Transforming properties into long-term prosperity.

Market UpdateMinneapolis Office – RentApril 2026Market asking rent growth stands at 1.4% year over year, decelerating fr...
06/05/2026

Market Update
Minneapolis Office – Rent

April 2026

Market asking rent growth stands at 1.4% year over year, decelerating from 2.5% in 2024 and below the market's 1.8% long-run average. Against the national asking rent of roughly $36/SF, Minneapolis trades at a persistent 28% discount. Cumulative rent growth from 2019 through 2025 amounts to a thin 11.3%, leaving owners rolling pre-pandemic leases with modest mark-to-market upside at best and, in the CBD, frequently negative effective rent outcomes once tenant downsizing on renewal is absorbed.

Market Asking Rent Growth (YOY)
Overall market growth: 1.4% (down from 2.5% in 2024)
Below long-run average: 1.8%
Minneapolis trades at a 28% discount to the national asking rent (~$36/SF)
Cumulative rent growth (2019–2025): 11.3%
Class A (4 & 5 Star) Snapshot
Asking rent: $30.00/SF
Annual growth: 1.6%
Vacancy rate: 18.4%
Availability rate: 22.2%
Well above 2015–2019 average vacancy (~8.2%)
Concessions elevated: free rent and tenant improvement packages at post-2008 levels
Gross occupancy costs:
CBD: $13.37/SF
I-394 Corridor: $14.84/SF
All-in occupancy costs: Mid-$40s/SF

Key takeaway: Concessions—not face rent—are driving every deal.

Class B (3 Star) Snapshot
Asking rent: $24.62/SF
Annual growth: 1.6%
Vacancy rate: 9.8%
Strongest tier supported by mid-market tenant demand:
Healthcare
Financial services
Professional services
Tenants occupying 25,000–85,000 SF continue to support pricing discipline and modest mark-to-market upside.
Class C (1 & 2 Star) Snapshot
Asking rent: $21.38/SF
Annual growth: 0.6% (weakest tier)
Demand erosion and shrinking inventory are creating a low-velocity, low-leverage environment.

Outlook

Rent growth is expected to continue slowing and could trend toward flat growth in 2026. Class A CBD assets remain the most vulnerable to negative effective rent movement if sublease supply expands further. A meaningful recovery will require:

Positive large-block absorption
Reduced CBD sublease availability

At this time, neither condition appears imminent.

🌳 Land for Sale in Hugo – Space, Quiet, and a Great Community 📍 15### Everton Ave N, Hugo, MN 55038If you’ve been thinki...
06/03/2026

🌳 Land for Sale in Hugo – Space, Quiet, and a Great Community

📍 15### Everton Ave N, Hugo, MN 55038

If you’ve been thinking about building a home where things feel a little calmer and more open, this approximately 12-acre property in Hugo is worth taking a look at. It’s a comfortable area with a good neighborhood feel and plenty of room to make it your own.

✨ Property Highlights:
• Approx. 12 acres of land
• Buildable lot
• Plenty of space between neighbors
• Quiet, low-traffic area
• Open and usable land
• Easy access from Everton Ave N
• Great spot for a custom home
• Room for outbuildings, gardens, or hobby space
• Peaceful surroundings with natural views
• Long-term value in a growing area
📍 Why people like this part of Hugo:
• Small-town feel with nearby conveniences
• Easy drive to shopping, dining, and schools
• Simple access to main roads
• Friendly, well-kept neighborhood

📲 Contact us today for more details or to schedule a private tour.

Andy Pham (651) 565-6499
Tuan Tran 651-373-6557

06/01/2026

Monday in Commercial Real Estate 🚀

The week started early and didn’t slow down:

📞 Phone calls
📧 Emails
🤝 Client meetings
🏢 Property tours
☕ More meetings
🌐 Networking
⛳ And finishing the day with conversations and connections on the golf course

Every call, meeting, and property tour is another opportunity to create value, solve problems, and help clients achieve their real estate goals.

Success in this business isn't built in one big moment—it's built through consistent action, strong relationships, and showing up every day.

Grateful for the opportunities, the clients, and the people I get to work with. Now, on to the rest of the week!

✨ MONDAY MOTIVATION ✨Success doesn't happen by chance, it happens through dedication, discipline, and a commitment to ke...
06/01/2026

✨ MONDAY MOTIVATION ✨

Success doesn't happen by chance, it happens through dedication, discipline, and a commitment to keep moving forward even when the journey gets tough.

Every goal starts with a vision. Every achievement starts with action. Stay focused, stay consistent, and trust that your hard work today is building the future you deserve.

🚀 Keep pushing forward. Your breakthrough may be closer than you think.

📍 Minneapolis Office Market Update – 2026 🏢📊The Minneapolis office market continues to face major challenges as remote a...
05/29/2026

📍 Minneapolis Office Market Update – 2026 🏢📊

The Minneapolis office market continues to face major challenges as remote and hybrid work reshape demand for office space. Vacancy has now reached a record-high 12%, nearly double pre-pandemic levels, with over 7.5 million SF of occupancy losses since 2020.

🔹 Downtown Minneapolis remains the hardest hit

CBD vacancy climbed to 22.8%
Large companies continue downsizing and consolidating office footprints
Many leases today are renewals rather than business expansions

🔹 Suburban markets are performing better

Healthcare and medical-office users continue driving activity
Roseville, Maplewood, and the I-394 Corridor showed positive leasing momentum
Companies are favoring well-amenitized suburban locations with competitive pricing

🔹 Key trend shaping the market
Even companies upgrading to higher-quality office spaces are leasing smaller footprints, creating continued negative absorption overall.

📈 What this means moving forward

Tenants currently hold strong negotiating power
Landlords may continue offering aggressive incentives
Office conversions and redevelopment may increase
Healthcare-related office demand remains one of the strongest sectors in the metro

⚠️ Market experts expect challenges to continue through 2026, especially if major corporations further reduce office space commitments.

🏢 PRIME RETAIL OPPORTUNITY IN INVER GROVE HEIGHTS 📍9079 Buchanan Trail presents a rare chance to own a 6,976 SF freestan...
05/27/2026

🏢 PRIME RETAIL OPPORTUNITY IN INVER GROVE HEIGHTS

📍9079 Buchanan Trail presents a rare chance to own a 6,976 SF freestanding retail building positioned in one of Inver Grove Heights’ busiest commercial corridors.

✨ Property Highlights:
✔️ 6,976 SF Retail Building on 1.03 Acres
✔️ Excellent Visibility Along Concord Blvd
✔️ Immediate Access to Highway 52
✔️ 45 On-Site Parking Stalls
✔️ Flexible Open Floor Plan
✔️ Multiple Drive-Up Access Points
✔️ Dedicated Delivery/Dock Area
✔️ Ideal for Retail, Restaurant, Service, or Light Commercial Use

💰 Seller Financing Available for Qualified Buyers — a valuable opportunity in today’s lending market.
Perfect for owner-users or investors seeking a high-visibility asset with long-term upside and operational flexibility.

📈 Strong location. Flexible use. Investment potential.
Message us today for more details or a private tour.

Contact for private tours and details:
📲 Andy Pham 651-565-6499
[email protected]
📲 Chris Missling 612-812-1317
[email protected]
📲Andrew Mayamba 612-599-5642
[email protected]

05/25/2026

Today, we honor and remember the brave men and women who made the ultimate sacrifice for our freedom. 🇺🇸

This Memorial Day, we extend our deepest gratitude to all who served and to the families who carry their legacy forward. May we never forget the courage, dedication, and sacrifice that shaped our nation.

Wishing everyone a safe and meaningful Memorial Day. ❤️🤍💙

📈 Twin Cities Commercial Market UpdateThe latest population and migration trends continue to support a strong outlook fo...
05/22/2026

📈 Twin Cities Commercial Market Update

The latest population and migration trends continue to support a strong outlook for commercial real estate across Minneapolis–St. Paul.

After the temporary slowdown during 2020–2022, the Twin Cities are seeing a major rebound in net migration, with more people moving back into the region through 2025 and beyond. This growth is creating increased demand across multiple sectors including:

🏢 Office Space
🏬 Retail Centers
🏘️ Multifamily Housing
📦 Industrial & Logistics
🏥 Healthcare Real Estate

The data also shows strong growth within the prime working-age population, which supports:
✔️ Business expansion
✔️ Consumer spending
✔️ Workforce stability
✔️ Long-term investment opportunities

At the same time, growth in the 65+ demographic continues to drive demand for medical office, senior housing, and healthcare-related commercial development.

The Twin Cities remain one of the Midwest’s most resilient and diversified commercial markets, supported by strong demographics, economic stability, and long-term growth fundamentals.

Now leasing in one of the most established office corridors in the southwest metro 👇Now Leasing | Edina 100 | 2,000 – 20...
05/20/2026

Now leasing in one of the most established office corridors in the southwest metro 👇

Now Leasing | Edina 100 | 2,000 – 20,000 SF Available

📍 7501 Ohms Lane, Edina, MN 55439
In a market where many office owners are downsizing or deferring improvements, selective reinvestment is creating real separation.

Edina 100 is under new ownership, and capital is being strategically deployed back into the asset — not for short-term occupancy at any cost, but for long-term tenancy, operational stability, and strong tenant alignment.

We are currently offering 2,000 to 20,000 square feet of flexible office space in one of the most established submarkets in the Twin Cities.

🔹 Flexible lease structures
🔹 Spec suites + custom build-out capabilities
🔹 Competitive tenant improvement packages
🔹 Modernized common areas with ongoing capital upgrades
🔹 Scalable footprints to support growth

This opportunity is well-suited for professional service firms, medical users, advisory groups, and growth-oriented operators evaluating their next 3–5 year horizon.

The focus is simple: align strong tenancy with a refreshed asset and create long-term value for both ownership and occupants.

If your firm is assessing space in Edina or the broader southwest metro, I welcome a direct conversation.

Message me directly or share with anyone evaluating office space in the area.

ANDY PHAM
GJG Commercial
Vice-President
651-565-6499
[email protected]

💼 MONDAY MOTIVATION 💼Stay focused. Stay consistent.Not every move needs an announcement..sometimes the strongest growth ...
05/18/2026

💼 MONDAY MOTIVATION 💼

Stay focused. Stay consistent.
Not every move needs an announcement..
sometimes the strongest growth happens behind the scenes.

This Monday, keep building, keep grinding, and trust that your results will speak louder than words. 🔥

Success is earned quietly… until everyone notices.

#

Address

7301 Ohms Lane
Minneapolis, MN
55439

Telephone

+19529944578

Website

Alerts

Be the first to know and let us send you an email when Andy Pham CRE posts news and promotions. Your email address will not be used for any other purpose, and you can unsubscribe at any time.

Shortcuts

Share

Category