U.S. BANCORP RENEWS 447,000 SF HEADQUARTERS IN MINNEAPOLIS, MN
Piedmont Office Realty Trust has renewed U.S. Bancorp's 447,000 square-foot global headquarters lease in Minneapolis. U.S. Bancorp is the parent company of U.S. Bank National Association, the fifth-largest commercial bank in the United States. The bank has been located in the U.S. Bancorp Center since 2000 and employs over 11,000 employees in Minnesota.
10/30/2023 - 04:17 PM
Atlanta, Oct. 30, 2023 (GLOBE NEWSWIRE) -- Piedmont Office Realty Trust, Inc. (NYSE: PDM) announced today that it has renewed all of U.S. Bancorp (NYSE: USB)’s 447,000 square-foot global headquarters at its 800 Nicollet Mall property in Minneapolis, MN.
Minneapolis-based U.S. Bancorp is the parent company of U.S. Bank National Association, the fifth-largest commercial bank in the United States. Employees of U.S. Bancorp have worked in the iconic tower that bears its name, U.S. Bancorp Center, since the building opened in 2000. The bank employs more than 11,000 employees in Minnesota..
“Downtown Minneapolis is home to us. We’re pleased to sign a long-term lease on Nicollet Mall and remain committed to being a key part of the business community here,” said Andy Cecere, president and CEO of U.S. Bancorp. “It’s important to us that we contribute to the ongoing resilience of downtown and we believe this decision demonstrates that.”
Commenting on the renewal, Piedmont’s President and Chief Executive Officer, Brent Smith said, “We very much appreciate and value the 20-year relationship we have had with U.S. Bancorp. As a banking stalwart in the U.S, their headquarters presence has helped to make our building and Nicollet Mall a notable Minneapolis landmark, and we look forward to continuing to provide their employees an unmatched amenity set and office experience for years to come.”
Centrally located in Minneapolis’ Nicollet Mall Business District in downtown Minneapolis, U.S. Bancorp Center conveniently provides multiple points of access to the Minneapolis Skyway System, the largest contiguous system of enclosed, second-level bridges in the world. Composed of 9.5 miles of pathway connecting 80 city blocks, tenants have direct connectivity to endless options for shopping, dining and entertainment, including a U.S. Bank branch. Across its portfolio, Piedmont has been focused on creating hospitality-infused environments to offer tenants a distinct employee experience. At U.S. Bancorp Center, tenants have access to an amenity-rich office environment including a market differentiating, full floor penthouse amenity center offering 360 views of downtown Minneapolis, Target Field, and the Mississippi River, expansive tenant lounge, fitness center with group fitness studio and personal training packages, game room with golf simulator, bike storage with locker and shower facilities, and state-of-the-art conference center with seating up to 100 people. Future onsite amenities include fine dining seafood restaurant – 801 Fish (opening this fall) and two-story lobby transformation to create additional tenant collaboration lounges and an on-site coffee lounge.
U.S. Bancorp Center recently received the 2023 BOMA International TOBY, which awards one property in each size category globally for its excellence in building management and operations. In an ongoing effort to foster health and wellness inspired environments, US Bancorp Center holds additional designations including LEED-Gold, Energy Star, WELL Health-Safety Rating, and BOMA 360 Performance.
About Piedmont Office Realty Trust
Piedmont Office Realty Trust, Inc. (NYSE: PDM) is an owner, manager, developer, redeveloper, and operator of high-quality, Class A office properties located primarily in the Sunbelt. Its approximately $5 billion portfolio is currently comprised of approximately 17 million square feet. The Company is a fully integrated, self-managed real estate investment trust (REIT) with local management offices in each of its markets and is investment-grade rated by S&P Global Ratings (BBB) and Moody’s (Baa2). Piedmont is a 2023 ENERGY STAR Partner of the Year. For more information, see www.piedmontreit.com .
Contact: Sarah Heimlich
Who renewed their lease at 800 Nicollet Mall in Minneapolis?
Piedmont Office Realty Trust renewed U.S. Bancorp's lease.
What is U.S. Bancorp?
U.S. Bancorp is the parent company of U.S. Bank National Association, the fifth-largest commercial bank in the United States.
How long has U.S. Bancorp been located in the U.S. Bancorp Center?
U.S. Bancorp has been located in the U.S. Bancorp Center since 2000.
How many employees does U.S. Bancorp have in Minnesota?
U.S. Bancorp employs over 11,000 employees in Minnesota.
Piedmont Office Realty Trust Inc
PDM Rankings
#4701 Ranked by Stock Gains
PDM Stock Data
Industry
Lessors of Nonresidential Buildings (except Miniwarehouses)
Sector
Real Estate and Rental and Leasing
Tags
Finance, Real Estate Investment Trusts, Real Estate and Rental and Leasing, Lessors of Nonresidential Buildings (except Miniwarehouses)
About PDM
piedmont office realty trust, inc. (nyse: pdm) is a fully integrated and self-managed real estate investment trust (reit) specializing in the ownership and management of high-quality class a office buildings located primarily in the ten largest u.s. office markets, including chicago, washington, d. c., new york, dallas, los angeles, and boston. piedmont's wholly-owned office buildings comprise approximately 21 million rentable square feet. the company is headquartered in atlanta, ga, with local management offices in each of its major markets. investment-grade rated by standard & poor's (bbb) and moody's (baa2), piedmont has maintained a low-leverage strategy while transacting almost $6 billion and approximately $1.5 billion in property acquisitions and dispositions, respectively, during its fifteen year operating history.
