Case Studies

PROJECT OVERVIEW U.S. Bank is the 5th largest bank in the country with 73,000 employees and $462 billion in assets. Based in Minneapolis, they desired to develop a new corporate headquarters location for their Mortgage Banking division. CHALLENGE U.S. Bank’s growing Mortgage Banking division was under new leadership that wanted to 1.) consolidate their dispersed employees currently spread over 15 locations across the Twin Cities and 2.) they wanted to solve for a headquarter facility that would accommodate their rapid employee growth projections 3.) they wanted didn’t want to increase their annual “run-rate” inclusive of set up costs.

CLIENT U.S. Bank

SQUARE FOOTAGE

258,000 SF

SOLUTION

Cushman & Wakefield led a confidential multi-site facility selection process whereby over the course of 7 months we negotiated multiple offers to lease and purchase. Concurrently, with the transaction negotiations we toured multiple stakeholders through the facilities, conducted drive- time impact studies, analyzed employment trends, and conducted facility assessments which included costing TIA, FF&T and move costs. Ultimately, the competition for this landmark HQ consolidation led to a historic transaction for the Bank.

LOCATION

Southwest Metro, MN

SERVICES

Tenant Representation Financial Analysis Workplace Strategy Incentives Consulting

CLIENT RESPONSE

The resulting transaction surpassed their expectation in terms of quality of building, growth and economics. In December of 2017, the Minnesota Commercial Association of Realtors awarded the project with their Deal of the Year Award.