Financial firm UBS is moving its Minnesota headquarters out of Nicollet Mall’sU.S. Bancorp Center.
Zurich, Switzerland-based UBS signed a deal to move more than 100 employees across the street into space on the 29th and 30th floors of IDS Center, according to sources who declined to be named to protect client relationships.
The 29th floor has been vacant for about five years. It was previously leased byIrwin Jacobs’ firms, including boat manufacturer Genmar. UBS is taking a portion of the 30th floor that was most recently leased by law firm Merchant & Gould, which remains a tenant at IDS.
UBS inherited its current lease in the U.S. Bancorp Center at 800 Nicollet Mallwhen it bought a division of Piper Jaffray in 2006. UBS officials didn’t respond to a request for comment.
Jim Durda, general manager of IDS, issued a statement confirming that “one of the world’s leading financial firms” is moving its business headquarters to IDS early this summer.
The deal is evidence of the tower’s ability to attract and retain leading professional and service firms, Durda said. About 15 tenants have either renewed or expanded in IDS in the past eight months, including Sit Investment Associates, Norwest Equity Partners, Slalom Consulting, Briol & Associates and Littler Mendelson. The building is now about 93 percent leased.
Jon Dahl and Brent Robertson, brokers at Jones Lang LaSalle in Minneapolis, represented Hallandale Beach, Fla.-based landlord Beacon Investment Properties in the UBS deal. Connie Doran, a broker at Cushman & Wakefield/NorthMarq represented UBS.