The building will come down to make room for the relocation of Silicon Valley-based Secure Computing from its present 73,000-sf location in Roseville, MN and a smaller second office. The move will bring 193 jobs to St. Paul. The new building, 2400 Energy Park Dr., is going up on a nine-acre site. It is expected to open late in the spring of next year.
The computer technology firm last month signed a 10-year lease for 94,000 sf with an option to expand into the remaining space over the next five years. Financing the new $12 million building will be helped by a $775,000 loan to CSM Corp. from St. Paul's Housing and Redevelopment Authority. The loan, which comes out of the HRA's Loan Enterprise Fund, carries an interest rate of 6.5% that is forgivable after 10 years.
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