Newmark, on Behalf of Piedmont Office Realty Trust, Inc., Secures 447,000 SF Renewal of U.S. Bancorp's Headquarters

About this update from Newmark Group, Inc.

[{"type":"text","content":"Demonstrating the commercial bank's unified commitment to Minneapolis and Piedmont.\nMINNEAPOLIS, 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.\n\n \n \n \n \n \n \n\n \n\"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.\"\nU.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.\nCommenting 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.\" \nU.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...

More updates from Newmark Group, Inc.