Target Giving Up Downtown Office Space

Per the Star Tribune Target will move out of approx 1 million SF of their Minneapolis office space. “Target’s City Center offices have been sitting mostly empty in the last year as the retailer, like many corporate employers, sent employees home to work to slow the spread of COVID-19. About 3,500 of Target’s 8,500 downtown Minneapolis employees worked in City Center before the pandemic. Those employees will be given a new “home base” in one of the Target’s other buildings along Nicollet Mall or at its campus of buildings in Brooklyn Park, the company told employees this morning. The move is the first by a major downtown employer to show how differently its space needs will be from what they were before the pandemic. Because of its size, Target’s decision is likely to affect mass transit patterns, real estate values and the futures of other businesses in downtown Minneapolis. Last month, Target said it was postponing its return to the office to this fall, after previous expecting to come back in June.”

 

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