Two signature St. Paul foundations are moving into new space, hoping to benefit from the close proximity to one another.

The Bush Foundation and The Saint Paul Foundation have leased a total of 37,175 square feet in the US Bank Center, relocating from offices elsewhere in the Capitol City, according to Cushman & Wakefield/NorthMarq.

The foundations are expected to move in the space, located at 101 Fifth St. E., this September. Each foundation will occupy one building floor, respectively, with an additional floor of shared space to be used between them. The space was formerly occupied by guaranty agency ECMC, and has been vacant for many years.

The Bush Foundation will move from the First National Bank building in St. Paul and occupy 15,883 square feet in its new digs, and the St. Paul Foundation will take up an additional 21,292, according to C&W/NM.

Janet Moore covers commercial real estate for the Star Tribune.

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