U.S. Bank is staying at the St. Paul space that bears its name: U.S. Bank Center.
The bank said Tuesday that it has negotiated a six-year extension to its lease at the building in downtown St. Paul. Under the new lease, which expires in October 2024, U.S. Bank will continue to operate out of its existing space, which spans 10 floors in the building, occupying roughly 36 percent of the building’s total leasable space. Financial terms of the lease were not disclosed.
U.S. Bank has operated out of the building (previously Firstar Center) for the past 38 years. Currently, 220 U.S. Bank employees in a variety of functions, including consumer banking, commercial banking, wholesale banking and wealth managment, work in the 25-story structure. It is the sixth-tallest building in downtown St. Paul.
“As a Twin Cities-based company with more than 11,000 employees in the metro area, we are committed to maintaining a presence in St. Paul,” said Phillip Trier, Twin Cities market president, in a statement.. “U.S. Bank Center in St. Paul is conveniently located in the center of downtown, giving our employees easy access to all the great amenities the city has to offer.”
Janet Moore covers commercial real estate for the Star Tribune.