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GlobeSt.com UPDATE: Allina Chooses Sears Site for HQ

MINNEAPOLIS-The healthcare company will take a quarter of the one-million-sf Sears Roebuck complex that has been vacant for more than a decade.

By Jim McCartney | Updated on February 18, 2004

MINNEAPOLIS-The Allina Hospitals & Clinics board of directors has chosen the Sears/Midtown Exchange located on Lake Street in South Minneapolis as the future headquarters for the state’s largest nonprofit healthcare delivery system. The decision comes after more than a year of deliberations on potential sites with the final candidates narrowed to the land parcel off of I-94 and Snelling in St. Paul, a site in Roseville at County Road C2 and the Sears/Midtown Exchange site. The Allina Hospitals & Clinics corporate headquarters, called Allina Commons, will house around 1,000 employees and include an educational conference center.

“We were very impressed with each of the proposals and the professionalism with which they were presented,” says Richard Pettingill, Allina president and CEO. “This was a difficult decision, but all three cities submitted proposals far exceeding our expectations.”

The one-million-sf Sears/Midtown Exchange site has sat vacant for more than a decade. Locally based Ryan Cos. will develop the site with Allina Commons as a major cornerstone of that development. Allina will be signing a long-term lease for the 250,000-sf deal with Ryan Cos. Costs to move, above the lease expenses, are about $7.9 million, but will be offset by the sale of two real estate holdings from the consolidation; one at 1801 Nicollet and the other on Willow Street near Loring Park.

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