DEED Headquarters Set to Move to Downtown St. Paul's Great Northern Building in 2021
Move is expected to save hundreds of thousands of dollars per year
February 5, 2021
St. Paul – The Minnesota Department of Employment and Economic Development (DEED) today announced that its headquarters will move to the Great Northern Building at 180 East Fifth Street in Saint Paul, Minnesota. This two block move in downtown St. Paul, which will occur by August 1, 2021, will be DEED's first relocation in nearly two decades.
As DEED evaluated the possibility of moving, it executed a thorough three-year planning and evaluation process, and was focused on best serving Minnesotans and businesses across the state. This included an analysis to re-examine space needs, and take account of future teleworking trends, to both improve the experience for DEED's workforce and save taxpayer money with a reduced footprint.
The new location in the Great Northern Building remains within one block of the METRO Green Line light rail and easily accessible by bus as well.
"Like thousands of Minnesota businesses, DEED has spent the last year demonstrating flexibility in our work environment and re-thinking how we manage physical space," said DEED Commissioner Steve Grove. "I look forward to a new location in 2021 that will save taxpayers thousands of dollars every year with a reduced footprint, while substantially improving the workspace for our employees, and allow for significant flexibility to best serve Minnesotans and businesses in the years ahead. "
"We are also happy to be re-investing in Downtown St. Paul, our home for over 20 years, as we focus on the process of recovering from the economic challenges of COVID-19," Grove continued.
"Amid the many impacts of this pandemic, DEED's efforts to support our economic health will remain as vital as ever," said Mayor Melvin Carter. "We are thrilled to support their move to the Great Northern Building in Saint Paul, which will benefit their workers, Minnesota taxpayers, and the vitality of downtown in our capital city."
DEED will occupy the full 11th, 12th and 13th floors of the historic building.
"We are very excited to welcome DEED and their employees to this amazing building," said Mathew Jacobs, Managing Director of Gamma Real Estate. "The Great Northern Building is in many ways a monument to job creation in the Upper Midwest, so DEED's mission really connects the history of the place to its future. We have invested time and resources to bring this building back to life, and DEED's decision to join us here reaffirms our choice and our enthusiasm for Downtown St. Paul."
DEED's existing lease at the First National Bank building ends on July 31st, which precipitated the process of evaluating the agency's location. Chris Gliedman with CBRE represented Gamma Real Estate to help work with DEED on the lease details.
DEED is the state's principal economic development agency, promoting business recruitment, expansion and retention, workforce development, international trade and community development. For more details about the agency and its services, visit the DEED website or follow us on Twitter.
About Gamma Real Estate
Gamma Real Estate is a boutique commercial real estate firm based in New York City. The firm runs three operations – Gamma Lending, Gamma Multifamily, and Gamma Development. Owned and operated by the Kalikow family, Gamma Real Estate boasts a forty-five-year history of success as both lenders and owners of commercial real estate. To learn more please visit gammarealestate.com