Denver ($38/sqft, 23.5% vacancy) and Minneapolis ($32/sqft, 23.7% vacancy) compete on different axes: Denver on rent and tax and Minneapolis on talent depth.
Denver ($38/sqft, 23.5% vacancy) and Minneapolis ($32/sqft, 23.7% vacancy) compete on different axes: Denver on rent and tax and Minneapolis on talent depth.
| Metric | Denver | Minneapolis |
|---|---|---|
| Region | Americas | Americas |
| Country | United States | United States |
| Class A rent (USD/sqft/yr) | $38 | $32 |
| Class A rent (local) | 38 USD | 32 USD |
| Vacancy | 23.5% | 23.7% |
| Trend | softening | softening |
| Prime yield | 7.1% | 7.4% |
| Premium flex / seat / month (USD) | $660 | $580 |
| Submarkets covered | 5 | 5 |
| Corporate tax | 25.6% | 30.6% |
| Metric | Denver | Minneapolis |
|---|---|---|
| Typical term | 10 yrs | 10 yrs |
| Typical rent-free | 14 mos | 16 mos |
| Lease norms | Modified-gross structures. 7-10 year terms standard. Free rent of 12-16 months and TI of $80-$120/sqft typical on a 10-year Class A deal. | Modified-gross structures with opex pass-throughs. 10-year terms standard for trophy. Free rent of 14-18 months and TI of $80-$120/sqft typical on a 10-year deal. |
| Tax note | 21% federal plus 4.4% Colorado corporate income tax for an effective rate near 25.6%. Denver occupational privilege tax applies. | 21% federal plus 9.8% Minnesota corporate franchise tax for an effective rate near 30.6%. Minnesota property tax classification for commercial property is a meaningful occupancy cost line item. |
| Metric | Denver | Minneapolis |
|---|---|---|
| Talent index (0–100) | 80 | 82 |
| Talent note | Deep professional services, energy, aerospace, and outdoor-industry talent. Strong feed from CU Boulder, CSU, and the Colorado School of Mines. Lifestyle draw continues to support in-migration. | Deep Fortune 500 corporate, healthcare, retail, and agribusiness talent. Strong feed from the University of Minnesota and the broader UMN system. Healthcare talent base supports Mayo Clinic and UnitedHealth Group. |
Denver: RTD light rail (10+ lines) plus commuter rail to DIA via the A Line. 16th Street Mall (under reconstruction) anchors downtown pedestrian network.
Minneapolis: Metro Transit light rail (Blue, Green) plus regional bus and a planned third light rail line. Downtown skyway system is unique and weather-relevant.
Minneapolis is the cheaper Class A market on a USD basis.
Minneapolis has the deeper talent index (82/100 vs 80/100).
Denver has the lower headline corporate tax (25.6% vs 30.6%). Local incentives can change the effective rate materially.
Denver typical term is 10 years with 14 months free; Minneapolis runs 10 years with 16 months free.
Denver: RTD light rail (10+ lines) plus commuter rail to DIA via the A Line. 16th Street Mall (under reconstruction) anchors downtown pedestrian network. Minneapolis: Metro Transit light rail (Blue, Green) plus regional bus and a planned third light rail line. Downtown skyway system is unique and weather-relevant.
Score Denver, Minneapolis and up to two more markets side-by-side on Class A rent, vacancy, talent, corporate tax, and premium flex pricing — all in USD.
Reviewed by Miriam Hollander — Lead market analyst. Last updated 2026-04-15. See our methodology and editorial standards.