They had an article a few weeks prior that similarly criticized Target's lack of RTO mandate, full of quotes from restaurateurs and housing developers. ARE YOU THERE, TARGET? https://www.bizjournals.com/twincities/ ... -mpls.html (locked article)rhettcarlson wrote: September 7th, 2023, 12:11 pm Biz Journal really taking Target to task over their RTO policy. Glad it's getting coverage.
How Target's flexible work policy compares to competitors Amazon and Walmart
https://www.bizjournals.com/twincities/ ... rison.html
At the end of the article, the author found someone that laid into CEO Brian Cornell:
https://www.axios.com/local/twin-cities ... eld-officeRegardless, the company isn't in the position to enforce a sweeping in-office mandate, Saliterman said, when its CEO and other executives live elsewhere. He thinks everything at Target would be different if it was led by a local CEO with loyalty to Minneapolis. It's unclear how much time Cornell, who's two years from retirement, and the rest of the C-suite actually spend in Minneapolis. Target declined to comment. However, the resounding word on the street is that Cornell's primary residence is Siesta Key, Fla., where he and wife Martha own a house.
Fitzgerald said: "He clearly doesn't have any desire to return to the office in Minneapolis, and therefore isn't pushing his employees to. But can you blame him? If I was on the beach in Siesta Key, I don't know that I would be caring too much about the big vacant hole that I’ve left in downtown Minneapolis either.”
The Axios Twin Cities newsletter today had some info on US Bank's lease renewals. It sounds like they are likely going to renew their entire 444,000-square-foot lease at US Bancorp Center / 800 Nicollet. That's surprising considering that they own US Bank Plaza. But similar to Wells Fargo's recent moves, they'll end/reduce office leases elsewhere and concentrate workers downtown. They'll cut their lease in half at Richfield's Meridian Crossing (35W & 494) and potentially leave downtown St. Paul entirely (U.S. Bank Center will have to get a new name).