Rochester, Minnesota, is a prime destination for businesses looking to establish a strong presence in the region, and retail space for lease is an attractive option for entrepreneurs and companies alike. With a population of approximately 120,000, Rochester offers a unique blend of small-town charm and big-city amenities, making it an ideal location for retail businesses. The city's economy is heavily influenced by the Mayo Clinic, which draws millions of visitors annually, and the Destination Medical Center project is enhancing the city's infrastructure and economic growth. Additionally, Rochester boasts a rich arts and cultural scene, with historic buildings, art centers, and events like Thursdays Downtown showcasing local talent.
Rochester's retail space for lease market offers a range of options, with 38 listings available. The average annual rent per square foot is $20 USD, with sizes ranging from 195 square feet to 120,000 square feet. In addition to retail space, Rochester also offers a variety of other property types, including restaurants, medical offices, and office space. Restaurants can thrive in Rochester's vibrant downtown area, while medical offices can take advantage of the city's strong healthcare industry. Office space is also in high demand, with companies like IBM and Kerry Flavours and Ingredients calling Rochester home. Overall, Rochester's retail space for lease market offers a unique combination of small-town charm and big-city amenities, making it an attractive option for businesses of all sizes.
What is the average cost per square foot for retail space in Rochester?
The average cost per square foot for retail space in Rochester is $20 USD per square foot, with available listings totaling 38 and averaging 6,367 square feet in size, with a maximum space size of 120,000 square feet.
How do anchor tenants affect surrounding retail space leases?
In Rochester, where anchor tenants like the Mayo Clinic and IBM have a significant presence, their influence can positively impact surrounding retail space leases, driving up demand and rental rates, as seen in the 38 available listings, with an average annual rent of $20 USD per square foot and average size of 6,367 square feet, and a maximum space size of 120,000 square feet.
