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 St. Paul Foundation have leased a total of 37,175 square feet in the U.S. Bank Center, relocating from offices elsewhere in St. Paul, according to Cushman & Wakefield/NorthMarq.
The foundations are expected to move into the space at 101 Fifth St. E. in September. Each foundation will occupy one building floor, with an additional floor of shared space to be used by both. 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 and occupy 15,883 square feet in its new digs, and the St. Paul Foundation will take up an additional 21,292 square feet, according to Cushman & Wakefield/NorthMarq.
Janet Moore covers commercial real estate for the Star Tribune.