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Thomson Reuters to sell most of Eagan campus, move to new location in Twin Cities

The Toronto-based company is looking to sell 179-acres or over 68% of its 263-acre campus.

EAGAN, Minn — Thomson Reuters (TR) is looking to sell the majority of its 263-acre campus in Eagan, in a response to changing workplace habits and culture.

The Toronto-based company is looking to sell 179-acres or over 68% of its 263-acre campus. Notable features included in the sale are the office building with over 1.1 million square feet and three data centers with over 333,000 square feet. 

Notable exclusions from the sale?  The site's print manufacturing facility, which TR says is a key component to its business and will continue to operate at its current location.

“After conducting an extensive evaluation of our options – including numerous conversations with employees, stakeholders, and local officials to understand the impact of our decision and provide transparency – we are exploring opportunities to give employees a modern, collaborative office environment that is aligned with our hybrid work model and meets the needs of a dynamic workforce.” said  Paul Fischer, president, Legal Professionals, TR and co-site lead for the company’s Minneapolis-St. Paul campus.

The company used internal surveys to gauge how its employees felt about office life. 

“Work environments play a key role in retaining and attracting top talent,” Fischer added. “It’s critical that we balance flexibility for our employees with the needs of our business and customers. We’re excited to create an office space that encourages collaboration, stimulates innovation, and enables us to best support our customers in better serving their clients.”

TR isn't looking to go far, with Fischer stating his commitment to the metro.

"Thomson Reuters is deeply committed to continuing to invest in our operations in the Twin Cities, our people, and this community,” he said. 

The decision by Thomson Reuters reflects changing trends in the workplace. Target, for example, officially went hybrid at its headquarters in downtown Minneapolis last spring, along with many other downtown businesses. According to the Minneapolis Downtown Council, almost 62 percent of the largest buildings have workers back in the office -- but only part of the time.

"Hybrid for most people now is three days a week -- usually Wednesday, Thursday and Friday. If that's the case, you don't need the footprint that you have today," said Paul DeBettignies, a job recruiter and principal of Minnesota Headhunter. "Employers mostly want us to come back into the office, while workers still kind of want to stay at home. Hybrid seems to be the middle ground."

According to Gallup, two out of three professional service workers prefer a hybrid model. Of course, millions of American workers -- such as those who work in retail, health care, law enforcement, hospitality, and many other industries -- do not have jobs that can be done remotely. That includes the manufacturing employees at Thomson Reuters who will be staying put in Eagan.

"I think sometimes we think that everybody works from home. That's just not the case," DeBettignies said. "There are lots of jobs, lots of roles, that require us to be in the office five days a week, or a production facility."

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