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MoneyGram Adds Eight Years to Lease

ST. LOUIS PARK, MN-Travelers Express/MoneyGram restructures its 150,000-sf lease at Duke Realty's 1550 Utica Ave. S., extending the term to 2015 and negotiating a better rental rate with tenant improvements.

By Jim McCartney | Updated on June 14, 2004

ST. LOUIS PARK, MN-Travelers Express/MoneyGram recently restructured its 150,000-sf lease at 1550 Utica Ave. S., extending the term to 2015. The lease had been set to expire in three years, but Travelers Express was able to add eight years and negotiate a more attractive rental rate as well as some tenant improvements to its space there.

Travelers Express, a money order and wire-transfer business based here, is in the process of changing its name to MoneyGram International. Travelers, which is a subsidiary of Phoenix-based Viad Corp., is being spun off into an independent public company through a tax-free stock dividend to existing Viad shareholders.

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