Surprise: Downtown St. Paul’s office occupancy rates tick upward in COVID era
October 20, 2020
An unexpected thing happened after the pandemic hit St. Paul. Despite many employees working remotely, downtown office occupancy rates actually ticked up.
Spanning competitive, government and owner-occupied space, the overall office occupancy rate in downtown St. Paul is now 91 percent.
That number is up from 89.85 percent in 2019, partially as a result of a large vacant office structure — Cray Plaza — dropping out of the office market entirely. Still, in what’s become a rare feat for downtown, more office space was added in recent months than absorbed by the residential market.