Real Estate

The St. Paul Downtown Development Corporation has completed the acquisition and closed on full fee ownership of the U.S. Bank Center at 101 E. 5th St., finalizing a process that began with a late‑2025 mortgage purchase and closed Dec. 30, 2025, using only private funding. The 25‑story, roughly 516,000‑square‑foot tower (with a 348‑stall parking ramp) will now be directly controlled by SPDDC for leasing, redevelopment and tenant recruitment, a move Mayor Kaohly Her and SPDDC say will help bridge the entertainment district and Lowertown and stabilize the downtown core.

Boston Scientific has purchased a newly built facility in Maple Grove for $188 million, further expanding its presence in the northwest Twin Cities metro. The deal underscores continued investment by the medtech giant in its local operations; additional details about the building and any staffing plans were not immediately available.

Manufacturer PHS West signed a 91,000‑square‑foot lease at Brockton Business Park in Corcoran, where it will establish a new headquarters, the Minneapolis/St. Paul Business Journal reports on Nov. 21, 2025. The company said expansion needs, driven by growth in the data‑center industry, prompted the move within the Twin Cities metro.

Buhl Investors has sold the Minnetonka office building that houses Legrand’s new headquarters for $23 million, marking a major markup on the asset. The transaction, reported Oct. 22, 2025, underscores investor demand for single-tenant, HQ‑anchored properties in the Twin Cities market.

Robins Kaplan will reduce its Minneapolis office footprint and relocate to the Wells Fargo Center downtown, with a multimillion‑dollar build‑out planned, firm leaders said on Oct. 22, 2025. The move reflects a strategic shift in how the law firm uses office space in the Twin Cities’ core business district.

A North Loop office building in Minneapolis has signed Stagwell to a 50,000-square-foot lease, the latest major tenant commitment downtown. The property, purchased last fall by Crowe Cos., has been rebranded and is undergoing a multimillion-dollar renovation that the owner says will reposition the asset for creative-office tenants.