Newmark announces 265,000 square feet of office leases on behalf of Deluxe Corp.–a global technology and fintech company–in Minneapolis and Atlanta. Deluxe Corp. signed a 94,000-square-foot headquarters lease in the connected 801 Marquette and 121 South Eighth buildings in downtown Minneapolis, Minnesota. The company will occupy the two top floors of 801 Marquette and one floor in 121 South Eighth. In Atlanta, Deluxe Corp. signed a 171,000-square-foot lease for a FinTech and Customer Innovation Center at Glenridge Highlands II (5565 Glenridge Connector) in Atlanta, Georgia.
The tenant advisory team of Newmark’s Jim Damiani, CCIM, SIOR; Ryan Bohrer and Andrew Commers and Maura Carland represented Deluxe Corp. in its Minneapolis headquarters lease and cooperated with Colliers’ Pete Shelton, Bob Ward, and Drew Levine for the Atlanta lease. Newmark Managing Director Steve Shepherd, SIOR represented Deluxe Corp. in the sale of its former Shoreview headquarters property.
“We are honored to be the trusted real estate partner of Deluxe and to be a part of their organizational and workplace transformation,” said Bohrer. “Our entire Newmark team of brokers, financial analysts, location strategy/labor analytics and economic incentives advisors all played key roles in providing Deluxe with the client service that our firm promises and delivers. Deluxe’s major announcements in Minneapolis and Atlanta during these uncertain times prove DLX is committed to another 105 years of transforming enterprises, small business and financial institutions.”
With the direction and oversight of Doug Woodley, Deluxe’s Vice President of Real Estate and Enterprises Services, Newmark’s Dan Foster, Brooke Perez, and Daniel Oney of the firm’s Global Corporate Services (GCS) group conducted an extensive national site selection process and portfolio analysis. In this process, the team examined Deluxe’s entire real estate portfolio, operational platforms by business unit, talent availability, workforce needs and overall costs as part of the ‘One Deluxe’ corporate strategy. An outcome of this analysis was to determine optimal locations for the hub business units and supporting functions.
“Deluxe Corp.’s downtown relocation in Minneapolis and establishment of a new office location in Atlanta is a vote of confidence in the office market overall and for both cities,” said Damiani. “Completing this transaction is a reflection of the hard work, cooperation and commitment to community from Deluxe and all parties involved. Deluxe Corp. is a nimble company in the changing world of finance and we are proud to work alongside them in real estate endeavors.”
Newmark’s financial analysis experts Romel Canete and Daniel Keegan played an integral role in supporting Deluxe Corp.’s real estate, finance and tax teams in considering numerous complex finance and tax implications for the publicly traded company’s headquarter sale, new headquarter lease and FinTech hub space.
Newmark (“Newmark”), operated by Newmark Group, Inc. (“Newmark Group”) (NASDAQ: NMRK), is one of the world’s leading and most trusted commercial real estate advisory firms, offering a complete suite of services and products for both owners and occupiers. Together with London-based partner Knight Frank and independently-owned offices, Newmark’s 18,800 professionals operate from approximately 500 offices on six continents. Newmark’s investor/owner services and products include investment sales, agency leasing, property management, valuation and advisory, diligence, underwriting, government-sponsored enterprise lending, loan servicing, debt and structured finance and loan sales. Occupier services and products include tenant representation, real estate management technology systems, workplace and occupancy strategy, global corporate services consulting, project management, lease administration and facilities management. For further information, visit www.ngkf.com.
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