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Target Ends $110M Lease, Raises Concerns for City Center

2/27/2026

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Summary

Story summary

Target Corporation has finalized a $110 million lease buyout for its City Center tower in downtown Minneapolis, ending lease obligations through 2031.
The 51-story building was vacated in 2021 due to remote work trends, leaving much of the space unoccupied.
Samsung owns City Center, with the property's value falling to about $117 million and the lease termination raising concerns about its future amid a struggling downtown office market.

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Story summary

Target Corporation has finalized a $110 million lease buyout for its City Center tower in downtown Minneapolis, ending lease obligations through 2031.
The 51-story building was vacated in 2021 due to remote work trends, leaving much of the space unoccupied.
Samsung owns City Center, with the property's value falling to about $117 million and the lease termination raising concerns about its future amid a struggling downtown office market.