Downtown Minneapolis Office Market

Downtown - North Loop - Mill District - Elliot Park - Loring Park
twincitizen
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Re: Downtown Office Market

Postby twincitizen » February 13th, 2013, 10:51 pm

I agree that TCF is a somewhat likely acquisition target for Citi or Chase. That's really weird that 3/4 of the Big 4 banks do not have any presence in the Twin Cities. I never realized that before.

web

Re: Downtown Office Market

Postby web » February 14th, 2013, 12:18 am

bank of america does have 1 atm in dt mpls and another in dt st paul........had lines when I was there in November

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Cyclotron
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Re: Downtown Office Market

Postby Cyclotron » February 14th, 2013, 10:24 am

Wedgeguy wrote:
Cyclotron wrote:Didn't the opposite happen with US Bank - Firstar acquired US Bank, and then chose the US Bank identity and moved the HQ from Milwaukee?

Nope, USBank of Portland was bought and they keep the US Bank name and had the company headquartered here in MPLS.
Didn't the First Bank / US Bank merger happen before the Firstar merger? I thought there were two different mergers in a short time frame, with First Bank buying US Bank first and taking the US Bank name but keeping the headquarters here. and then Firstar buying US Bank.
The greatest danger of bombs is in the explosion of stupidity that they provoke. - Octave Mirbeau

twincitizen
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Re: Downtown Office Market

Postby twincitizen » February 14th, 2013, 4:33 pm

Getting away from Downtown office market, but here's the story about USBank leasing 100k sq ft at Best Buy HQ. It turns out those people were moved out of the US Bank building on American Boulevard, but USBank will keep a branch there, as well as the naming rights to the building.

http://www.bizjournals.com/twincities/p ... t-buy.html

mulad
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Re: Downtown Office Market

Postby mulad » February 15th, 2013, 12:29 am

An odd thing with TCF is that they don't have any actual bank branches in downtown Saint Paul anymore -- there's only one TCF ATM in Town Square (which I've seen) and another ATM at RiverCentre (looking at their website). Okay, there's another at United Hospital, but that doesn't count, does it?

The West Des Moines mortgage headquarters for Wells Fargo ended up on The Colbert Report tonight...

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Avian
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Re: Downtown Office Market

Postby Avian » February 18th, 2013, 1:38 pm

The talk of TCF acquisition is going on outside of this forum as well:

David Bugajski, financial services analyst for San Francisco-based Discern Analytics, speculated on a buyout possibility at TCF Financial. The Wayzata-based regional bank frequently sees its name mentioned in acquisition talks. Bugajski’s headline for his Jan. 31 research report went straight to the point: “If there’s an offer, they should take it.”

--StarTribune: http://www.startribune.com/business/191 ... ml?refer=y

“Wise men speak because they have something to say; fools because they have to say something.”
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Didier
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Re: Downtown Office Market

Postby Didier » February 27th, 2013, 5:48 pm

Not sure if this is the right place for this, but there was a line of protestors on the 28th Street bridge over 35W just south if downtown with signs implying that Wells Fargo is trying to kick them out of their homes. Anybody know what the deal is?

min-chi-cbus
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Re: Downtown Office Market

Postby min-chi-cbus » February 27th, 2013, 7:21 pm

Didier wrote:Not sure if this is the right place for this, but there was a line of protestors on the 28th Street bridge over 35W just south if downtown with signs implying that Wells Fargo is trying to kick them out of their homes. Anybody know what the deal is?
Well, Wells Fargo Home Mortgage (located right there) was a MAJOR player in the foreclosure crisis of the past few years, responsible for a very large percentage of the bad loans written across the country. People may be complaining that Wells Fargo is not being lenient enough with renegotiating the terms of their mortgages or perhaps are pushing them out too fast.

That's my guess.

Uptown46
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Re: Downtown Office Market

Postby Uptown46 » February 27th, 2013, 10:58 pm

Yep, Occupy Homes protest of Wells Fargo. http://www.occupyhomesmn.org/marchonwells

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Re: Downtown Office Market

Postby John » February 28th, 2013, 10:41 am

Might be a little bit old news, but this is a bizjournal video ( linked by Spectre000 on SkyscraperCity) from January 2013 with Collin Barr of Ryan Companies making a very exciting prediction of four new office projects announced for downtown in the next 12-18 months. http://www.bizjournals.com/twincities/b ... JzAi4f-rOs

min-chi-cbus
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Re: Downtown Office Market

Postby min-chi-cbus » February 28th, 2013, 12:39 pm

I wonder if nasa is one of those people in the vid?

kregger22

Re: Downtown Office Market

Postby kregger22 » February 28th, 2013, 5:12 pm

It would be interesting to hear where the 4 proposed new downtown office buildings sites would be...

nasa35

Re: Downtown Office Market

Postby nasa35 » March 1st, 2013, 6:27 am

kregger22 wrote:It would be interesting to hear where the 4 proposed new downtown office buildings sites would be...
If you include the convention hotel we have five (5) potential skyline impacters!

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Re: Downtown Office Market

Postby mnmike » March 1st, 2013, 8:11 am

On a random note...with all the projects that are ongoing and all the new proposals downtown....it irritates me even more that Bob Lux just sits on block E and does nothing! Not to mention his lot at 10th and Hennepin. Grrr

nasa35

Re: Downtown Office Market

Postby nasa35 » March 1st, 2013, 8:48 am

mnmike wrote:On a random note...with all the projects that are ongoing and all the new proposals downtown....it irritates me even more that Bob Lux just sits on block E and does nothing! Not to mention his lot at 10th and Hennepin. Grrr
Once the Lunds opened I though he was going to build....he still might.

nasa35

Re: Downtown Office Market

Postby nasa35 » March 1st, 2013, 8:50 am

min-chi-cbus wrote:I wonder if nasa is one of those people in the vid?
nope. I'm much better looking!

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Re: Downtown Office Market

Postby helsinki » March 1st, 2013, 8:55 am

twincitizen wrote:I agree that TCF is a somewhat likely acquisition target for Citi or Chase. That's really weird that 3/4 of the Big 4 banks do not have any presence in the Twin Cities. I never realized that before.
Arguably, the metro is better served by avoiding such consolidations. Corporate gigantism is generally bad, but it is especially bad when a local fish is swallowed by a distant whale. The board of directors of the merged entity won't be constituted from amongst the local community. High paid jobs would be transferred to New York. The connection between local lending and borrowing would be weakened. Corporate philanthropy to the Twin Cities would decrease.

Talk of "synergy" and "economies of scale" in finance should be called by it's proper name: nonsense.

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Re: Downtown Office Market

Postby seanrichardryan » March 1st, 2013, 9:40 am

Bill Cooper and TCF are hardly known for philanthropy. They are known for high fees, 19th century ATMs, poor customer service and unsound business practices. Good riddance.
Q. What, what? A. In da butt.

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Re: Downtown Office Market

Postby mulad » March 1st, 2013, 10:56 am

I liked the old green-screen ATMs because they were fast. These fancy graphics nowadays just slow things down. </offtopic>

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Re: Downtown Office Market

Postby mullen » March 1st, 2013, 12:13 pm

we've benefited from this consolidation. we have a top ten bank hq here after US bank's moves. and wells fargo employs more here than norwest did. i think bank of america sucks and i couldn't care less if they had presence in this market.

disregarding one ceo's personality i'd hate to lose tcf as a brand in minnesota. it has a long well regarded local legacy imo. remember the bob lurstema commercials? mary richards and the WJM news team's offices were in their old building for godsakes..... :P or maybe that was midwest federal...whatever it still is about as minnesota as any bank.


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