The Dayton’s Project signed a new lease with global financial institution Prudential Financial. Prudential will occupy 28,000 square feet of the newly redeveloped project and is moving from Saint Louis Park, a suburb of Minneapolis, to the heart of downtown Minneapolis.
The company will join similar large-scale companies that have signed to space at The Dayton’s Project like Unilever and Ernst & Young.
Prudential is vacating its suburban office space to move to the heart of downtown Minneapolis. This move highlights a larger trend of companies choosing to locate where they can entice their team members to come back to work in the office. Companies like Prudential are choosing highly amenitized buildings in highly amenitized neighborhoods because of the business advantages a great office in a great location offers.
The Dayton’s Project was built in 1902 and originally was used as the Dayton’s Department Store, which later became Target. In 2017, ownership group 601 W. Companies bought the property with the goal of repositioning the 1.2 million square foot project into retail and modern office space. The Dayton’s Project now boasts exclusive amenities for tenants, including a rooftop deck, a private lounge, a high-end fitness center, and library – by far the best office amenity package in Minneapolis.
Prudential’s new office space will celebrate the historic and raw attributes of The Dayton’s Project coupled with fresh, modern materials to connect to Prudential’s brand story. Designed by Gensler Minneapolis, the same team that led the design on the repositioning of the project, the design of Prudential’s office takes advantage of the building’s large floorplates, which allow for a flexible, free-address workstation layout with ample space for open collaboration as well as enclosed focus rooms, accommodating a variety of employee workflows, in addition to the vast amenity offerings.
Jim Montez and Alex Baron of Transwestern with Mercedes Barsh of The Telos Group represented ownership in the transaction. Eddie Rymer and Alex Ach of JLL represented Prudential in the deal.