The overall occupancy rate in St. Paul's central business district -- including government and owner-occupied spaces -- improved slightly to 91 percent this year from 90 percent last year thanks to some significant new leases, according to the annual St. Paul Office Market Report released Monday by the Greater St. Paul Building Owners and Managers Association.
Significant new leases include Cray Inc. for 57,000 square feet in Cray Plaza, Southern Minnesota Regional Legal Services for 18,052 feet in Alliance Bank Center, Microsoft Corp. for 12,000 feet in Wells Fargo Place and AECOM for 10,000 feet in the First National Bank Building.
About half of St. Paul's office space is categorized as "competitive," a segment that has a 17.9 percent vacancy rate.
JENNIFER BJORHUS
