JLL in Minneapolis just extended Target’s
885,000 sf lease at 33 South Sixth St./City Center in downtown Minneapolis. Kraft Heinz is relocating to the large AON Center building in Chicago. Will St. Louis' larger employers start to consider relocating downtown from the suburbs? Will St. Louis see this urban, relocation trend?
Aon Center
THE LURE OF DOWNTOWN
Kraft is the latest suburban company following the siren call of downtown Chicago, a trend that underscores the importance large corporations are placing on downtown real estate in recruiting and retaining younger employees.
Reluctance by young workers to commute from their city homes to suburban locales helped companies such as Sara Lee spinoff Hillshire Brands; United Airlines' parent company; Motorola Mobility, now owned by Lenovo Group; and in-flight wireless provider Gogo choose outright moves downtown. Others entrenched in the suburbs are opening smaller offices, allowing some employees to spend part or all of their workweek in the city.
