Target Leaving Downtown Minneapolis City Center Offices
MINNEAPOLIS (AP) -- Twin Cities commercial real estate managers are fearful Target Corp.’s decision to leave a main downtown location will become a trend that will continue to diminish office space needs.
Target informed the City Center’s manager Thursday that it will no longer need the 985,000 square feet of office space it rents in the 51-story tower because it is permanently moving to a hybrid remote work model for 3,500 employees.
The COVID-19 coronavirus pandemic has darkened many buildings in the downtown business district as employees adjust to working at home to avoid contracting the virus.
The company said it will maintain its other downtown offices, including Target Plaza locations.