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Posted on 02/26/2026 11:42:47 AM PST by ConservativeStatement
After moving out of nearly a million square feet of office space in downtown Minneapolis’ City Center building five years ago, Target paid almost $110 million last month to officially break its lease that ran through 2031.
Now the owner of the 51-story tower at 33 S. 6th St. — an entity tied to South Korean conglomerate Samsung — is preparing to list the property for sale, according to a Feb. 2 loan servicer report.
(Excerpt) Read more at startribune.com ...
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You can check out any time but you can never leave.
Room now for lots of Learing Centers and medicaid fraudulent health centers.
Bullseye!
OMG !
To pay 110 Million just to get the heck out of Dodge!
Things must be so bad in Minneapolis that Target predicts that the losses it will suffer if they stay for (2031-2026=5) five more years will exceed 110 million. Target must be losing over 22 million per year at that single location.
Way to go Minneapolis!
Guess it was worth it to break the lease.
Wow.
I couldn’t get to the article but most likely it would not have addressed my question which is: why did Target move out. So, I went binging. Here’s what they said.
“Target moved out of their headquarters building primarily due to improved remote work opportunities and a reduced need for office space. This decision was influenced by the shift towards a hybrid work model that has become more common since the pandemic. Additionally, the move coincided with the economic impact of the riots in Minneapolis, which affected the local business community and led to a desire for companies to reassess their operational strategies.”
My guess is that’s only part of the story. Below is Target’s share price graph. I suspect they are suffering from DEI and ESG.
Minneapolis the new capital of Somali.
Target isn’t going to give the real reason why they’re pulling out: Minneapolis going to hell because of the democrat administration.
It ain’t Mary Richards’ Minneapolis today, that’s for sure!
So iconic! Loved that show. :)
All real estate will move—if the price is low enough...
One dollar is totally possible.
Yep…it seemed like just a regular American city back then.
I have fond memories of watching that show with my parents on Saturday nights as a teenager before I was old enough to date.
It’s not even Prince’s Minneapolis today.
Obviously racists who won’t give Somali pirates what is due them from Allah. /s
Neither did the newspaper draw attention to what has happened to Minneapolis in recent years: out of control crime and dysfunction; the Somalis; the George Floyd riots; sanctuary city policies; and a crackpot Leftist mayor. The newspaper did mention that office buildings in the downtown are selling for less than appraised value. That is an ominous sign for city budgets and hopes for recovery.
This was the corporate center. I have been there with a manufacturer to demonstrate products to the buyers. PAIN IN THE BUTTOCKS to get there and park.
Not that long ago Target built a massive corporate campus up in Brooklyn Park. Very easy to get to from anywhere. Lots of wide open space around it.
I’m sure the employees who had to get downtown to that building are enjoying the new digs.
True on both counts!
Any sane person in Minneapolis should be doing everything possible to get out (along with the family) of Minneapolis.
As it descends into the anti-American, leftwing terrorist abyss, Minneapolis may need to become another Jornada del Muerto.
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