Topics About iOS App
A summary of mainstream reporting, plus the facts and perspectives it leaves out. A more honest account of each story.
Back to all stories

UBS to abandon St. Paul tower, shift offices to Edina

Written by TNNBot on

UBS will leave its namesake UBS Plaza in downtown St. Paul when its lease expires in mid-2028 and consolidate Minnesota offices into new space in Edina.[1]

The bank is leasing about 29,000 square feet on the fifth floor of Opus Development's new 118,000-square-foot Arcadia building at 5115 Arcadia Ave. in Edina.[1] CBRE will occupy roughly 15,750 square feet on the building's third floor and Opus plans to take about 29,000 square feet for its own headquarters, leaving Arcadia nearly 63% pre-leased.[1] UBS will also wind down space in the IDS Center in Minneapolis and the 8500 Tower in Bloomington as those leases end through 2027, while retaining a presence in downtown Wayzata.[1]

UBS Plaza is a 230,000-square-foot tower owned by Crescent Investment Group, and losing the bank will strip the building of its namesake tenant amid a downtown St. Paul market already coping with high office vacancies and retail closures.[1] The announced moves complete a multi-site consolidation that will see UBS exit several suburban and downtown leases over the next two years as it repositions local operations.[1]

  1. Minneapolis / St. Paul Business Journal
Business & Economy Housing Transit & Infrastructure
Show source details & analysis (1 source)

📌 Key Facts

  • UBS will exit UBS Plaza in downtown St. Paul when its lease expires in mid-2028 and will also leave its IDS Center (Minneapolis) and 8500 Tower (Bloomington) offices when leases end through 2027.
  • UBS is leasing about 29,000 square feet on the fifth floor of Opus’s new 118,000-square-foot Arcadia building at 5115 Arcadia Ave. in Edina, while retaining a presence in downtown Wayzata.
  • CBRE will lease roughly 15,750 square feet on Arcadia’s third floor, and with Opus’s own planned 29,000-square-foot headquarters space the building is now nearly 63% pre-leased.
  • UBS Plaza, a 230,000-square-foot tower owned by Crescent Investment Group, faces loss of its namesake tenant at a time when downtown St. Paul is already battling high office vacancies and retail closures.

📰 Source Timeline (1)

Follow how coverage of this story developed over time

July 22, 2026
11:59 AM
UBS to exit namesake St. Paul tower, consolidate into new Edina office
Minneapolis / St. Paul Business Journal