Demonstrating the commercial bank's unified commitment to
Minneapolis and Piedmont.
MINNEAPOLIS, Nov. 2, 2023
/PRNewswire/ -- Newmark announces that it has secured a
447,000-square-foot lease renewal with U.S. Bancorp
(NYSE:USB) ("US Bancorp") on behalf of its client, Piedmont Office
Realty Trust, Inc. (NYSE: PDM) ("Piedmont"), in its capacity as
owner, at the 32-story, award-winning 800 Nicollet Mall
headquarters in Minneapolis,
Minnesota. With the renewal, U.S. Bancorp reaffirms its
commitment to Piedmont and Minneapolis–its headquarters city for
more than two decades. Newmark Senior Managing Director
Brent Erickson and Associate
Director Callie Ronkowski served as
exclusive leasing agents for the Downtown
Minneapolis office property on behalf of Piedmont. JLL
represented US Bancorp.
"We are appreciative of the opportunity to work alongside such
great organizations as Piedmont and U.S. Bancorp in securing this
monumental lease transaction," said Ronkowski. "U.S. Bancorp Center
is an exceptional property and with U.S. Bancorp renewing its
long-term lease, we look forward to future milestones for the
building and the downtown Minneapolis business community."
U.S. Bancorp – the parent company of U.S. Bank National
Association ("US Bank"), the fifth largest commercial bank in the
country–signed a long-term lease renewal to maintain complete
occupancy of its existing footprint. The Minneapolis-based financial holdings company
and its workforce have occupied the tower since 2000, with Piedmont
acquiring the building in 2003, resulting in a meaningful business
relationship rooted in a shared commitment to the city, U.S.
Bancorp Center and the rejuvenation of the Minneapolis CBD.
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, its
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."
U.S. Bancorp Center is located at the epicenter of the
Minneapolis CBD, situated at the main intersections of 8th Street
and Nicollet Mall. The TOBY International award-winning office
tower, owned and managed by Piedmont, boasts a world-class tenant
experience between its work-play environment and unprecedented
access to the robust offerings in Downtown Minneapolis.
Tenants enjoy a robust amenity program including a
12,500-square-foot space on the top-floor with sweeping views
overlooking Target Field and the Mississippi River, a modern
fitness center with group exercise space, locker rooms and showers,
state-of-the-art conference rooms with technology available for
reservations ranging from 2-100 guests, on-site Piedmont Office
Management, 24-hour on-site security with controlled access to
loading dock, bike storage and an underground parking garage.
Additionally, US Bancorp Center will soon welcome fine dining
seafood restaurant – 801 Fish (opening this fall) and undergo a
two-story lobby transformation to include additional tenant
collaboration lounges and an on-site coffee lounge to further
create a hospitality-infused office environment.
About Newmark
Newmark Group, Inc. (Nasdaq: NMRK),
together with its subsidiaries ("Newmark"), is a world leader in
commercial real estate, seamlessly powering every phase of the
property life cycle. Newmark's comprehensive suite of services and
products is uniquely tailored to each client, from owners to
occupiers, investors to founders, and startups to blue-chip
companies. Combining the platform's global reach with market
intelligence in both established and emerging property markets,
Newmark provides superior service to clients across the industry
spectrum. For the year ending December
31, 2022, Newmark generated revenues of approximately
$2.7 billion. As of September 30, 2023, Newmark's company-owned
offices, together with its business partners, operate from
approximately 170 offices with 7,400 professionals around the
world. To learn more, visit nmrk.com or
follow @newmark.
Discussion of Forward-Looking Statements about
Newmark
Statements in this document regarding Newmark that
are not historical facts are "forward-looking statements" that
involve risks and uncertainties, which could cause actual results
to differ from those contained in the forward-looking statements.
These include statements about the effects of the COVID-19 pandemic
on the Company's business, results, financial position, liquidity
and outlook, which may constitute forward-looking statements and
are subject to the risk that the actual impact may differ, possibly
materially, from what is currently expected. Except as required by
law, Newmark undertakes no obligation to update any forward-looking
statements. For a discussion of additional risks and uncertainties,
which could cause actual results to differ from those contained in
the forward-looking statements, see Newmark's Securities and
Exchange Commission filings, including, but not limited to, the
risk factors and Special Note on Forward-Looking Information set
forth in these filings and any updates to such risk factors and
Special Note on Forward-Looking Information contained in subsequent
reports on Form 10-K, Form 10-Q or Form 8-K.
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SOURCE Newmark Group, Inc.