Major Twin Cities employer looks to offload new corporate campus
Prime Therapeutics no longer needs its state-of-the-art corporate office in Eagan that was completed just three years ago.
What's happening: The company, which is a pharmacy benefits manager, has retained local brokers from real estate firm CBRE to market its 400,000-square-foot campus for sublease as it embraces more remote work, multiple sources told Axios.
What they're saying: Kim Gibson, an executive at Prime Therapeutics, said in a statement that "we have underutilized space at our headquarters building and portions of it will be available for sublease."
- Prime Therapeutics did not say exactly how much of the two-building campus is available for sublease — that would depend on the needs of a tenant.
- But Axios' sources, who requested anonymity because the information has not yet been made public, said the entire campus could be had.
Flashback: Just two years after the campus was built, the pandemic hit and Prime Therapeutics, like many companies, was forced to send workers home. It has created a "hub and home" model in which employees would come into the office for collaboration.
- Gibson said Prime is still using a hybrid model, with some workers coming in for team meetings and gatherings multiple times per week, though some others only come in a few times per year.
- 26 out of 29 jobs posted on Prime Therapeutics' career website are advertised as remote.
Why it matters: Prime Therapeutics has 2,200 Twin Cities employees and its willingness to give up most or all of its new headquarters building is a testament to how some companies are embracing a remote workforce.
Yes, but: Not all companies are in the same boat. Some are trying to get more employees back into the office, though resistance remains.
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