Anyone know if there are any plans to sell off or terminate leases in Minneapolis?
14 replies (most recent on top)
Is St. Louis Park a lease?
Moving to the cloud should not signal a retreat from physical infrastructure and may not lessen the square footage needed to support it. WF and any organization that is heavily regulated will need to maintain things internally, no way they will store much at a third party site hosted/owned by Microsoft, Amazon, VMWare, etc.
That being said, cloud and dependent technologies offer more simplification of operations. This will reduce the workforce needed to support it (or shift more of the workforce to affordable offshore locations where task based roles are prevalent).
Everything except the new towers downtown, HMMC and Shoreview will be vacated. Shoreview will remain until enough infrastructure is moved to the cloud and then that will be closed too, but who knows when that will be. Ultimately means 100% downtown or close to downtown (HMMC) presence.
90 s 7th is leased. The building has changed hands many times, but was sold to Starwood capital back in 2019. It's the main reason for the added amenities in the last few years.
I would agree that eventually this lease would end and roles shifted elsewhere.
They keep SAYING that shoreview is going away, but then it never does. I don't have a dog in the fight, but I'll believe it when I see it.
Is 90 S 7th owned? Or leased?
Hi Mike Shimeck here. Whoever made that comment about me is fired. I'm going to bone your mom too.
90 S 7th st and 550 are staying. I could see Shoreview going away due to the data centers becoming obsolete after 2025.
Shoreview is going away within the next 8 years... allegedly.
Yeah shut it down! I can't breathe!
No immediate plans, but hard not to see the writing on the wall.
It's something that will need to happen eventually. 90 S 7th and SLP make the most sense. Dont know of other places with large leases. Folks will likely be distributed between the mortgage campus and 550/600 buildings
Yes. Think of Des Moines
Hopefully 🤞🏿