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Industrial Trends Industrial Submarket Overview <br /> Over the past five years,Sherburne County,and subse- <br /> quently Elk River,has seen consistently more affordable <br /> rental rates for industrial property than the Twin Cities o <br /> Region.Lower rental rates make Sherburne County more <br /> attractive for businesses looking for space in the Minne- <br /> apolis/St.Paul Region.Sherburne County has also seen a <br /> trend in increasing vacancy rates over the past five years. <br /> Despite this,vacancy has continued to consistently remain 1.Benton County <br /> below 4%.The County also sees a lower vacancy rate on 2.Chisago county <br /> 3.East <br /> average than the neighboring Twin Cities Regional Market. 4.lsanti county <br /> 5.Midway <br /> Trends in the industrial market indicate a demand for 6.Minneapolis <br /> 7.North Central 12.Southwest <br /> additional space be set aside for continued growth in this 8 Nor a C, 13.5`Croix`°°n y <br /> 1� g 9.Piereecounty 14.StPad <br /> sector. 1O.Sherburne County IS.Stearns County <br /> I.South Central 16.Wright County <br /> ■ Twin Cities Regional Market ® Sherburne County <br /> Source:CoStar;Houseal Lavigne Associates <br /> Industrial Vacancy Rate Industrial Market Rent Per Square Feet <br /> 6% $7.4 <br /> $7.2 <br /> 5% $7.0 <br /> 4% $6.8 <br /> $6.6 <br /> (u 3% 2 $6.4 <br /> $6.2 <br /> 2% $6.0 <br /> $5.8 <br /> I% <br /> $5.6 <br /> 0% $5.4 <br /> 2015 2016 2017 2018 2019 2020 2015 2016 2017 2018 2019 2020 <br /> ■ Twin Cities Regional Market ■ Sherburne County ■ Twin Cities Regional Market ■ Sherburne County <br /> Source:CoStar;Houseal Lavigne Associates Source:CoStar;Houseal Lavigne Associates <br /> Elk River Comprehensive Plan•Community Context 15 <br /> DRAFT FOR REVIEW ONLY <br />