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Re: Downtown Minneapolis Office Market

Posted: September 15th, 2020, 7:19 am
by QuietBlue
Doesn't hurt that there are plenty of Delta flights between MSP and ATL too.

Re: Downtown Minneapolis Office Market

Posted: September 15th, 2020, 11:39 am
by SurlyLHT
If they had wanted to they could have built a new campus on their current site, but went the easier route of leasing space throughout the country. Are Downtown locations and leases more flexible and therefore advantageous than these Corporate Campuses when an employer wants to look for something new? You can lease some space and over time adjust your space requirements as your businesses changes. I know some employers also lease different spaces within a Downtown area for different departments. Especially taking IT and putting them in a tech oriented space when space gets tight.

Re: Downtown Minneapolis Office Market

Posted: September 15th, 2020, 12:04 pm
by twincitizen
In addition to being where the CEO lives, it speaks to the strength/momentum of Downtown Minneapolis that they came here instead of Downtown St. Paul, which has plenty of available office space at lower lease rates. Deluxe started in St. Paul (presumably downtown...it was the early 20th Century), and Shoreview is very much an "east metro" burb (well, north metro geographically, but it's basically Greater Roseville which has much stronger historic ties to St. Paul than Minneapolis). If this HQ move was happening a decade ago or more, I'd put even money they would've ended up in St. Paul, probably with generous incentives (see St. Paul-Travelers, etc.). It doesn't sound like they even considered St. Paul, otherwise we probably would've heard something about it, since apparently there were some type of state incentives involved.

Re: Downtown Minneapolis Office Market

Posted: September 15th, 2020, 4:03 pm
by HKM
Seems like Sandy Springs/Georgia probably gave them a pile of tax breaks to land that facility, for what it's worth.
This could be the case, but Deluxe views itself more as a fintech company, and that industry is certainly Atlanta-centric so they'd need a big presence there regardless.

Re: Downtown Minneapolis Office Market

Posted: September 15th, 2020, 4:06 pm
by MNdible
Pretty sure fintech is just a made up thing, right?

Re: Downtown Minneapolis Office Market

Posted: September 15th, 2020, 8:34 pm
by Silophant
I was more referring to what it meant, if anything, that their Atlanta office ended up in the suburbs instead of downtown. Though, for what it's worth, the Sandy Springs office is going to be a few floors of an existing tower close to a MARTA station. So even though it's in the burbs, it's a pretty big departure from Shoreview.