Star Tribune to move headquarters, newsroom

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There's been another seismic shift in the landscape of Minnesota's largest newspaper.

The Star Tribune announced Thursday that it is moving its newsroom and headquarters to Capella Tower in downtown Minneapolis in 2015. The move comes 95 years after the paper sunk its roots in the eastern edge of downtown at 425 Portland Ave.

News of the move comes two days after the Star Tribune confirmed that Timberwolves owner Glen Taylor had made a formal offer to buy the paper. Taylor has made an undisclosed cash offer for the business with no other partners involved.

The move is expected to be completed in mid-2015. The Star Tribune will occupy three floors within a part of Capella Tower, that's known as the Park Building. Located at 650 Third Ave. South, the property will be renamed the Star Tribune building, the paper says.

The Star Tribune in February finalized the sale of five blocks it owned on its current site, paving a path for the $400 million Downtown East project. Four blocks were sold to developer Ryan Cos., and one block to the Minnesota Sports Facilities Authority, which is overseeing construction of the new $1 billion Vikings stadium.

The deal for land earned the paper $38.5 million.

The Star Tribune says its current home houses more than 600 employees in the newsroom, sales and marketing, circulation, digital, finance, human resources and IT.

The limestone-and-granite building was erected as a four-story brownstone in 1919 for what began as the Minneapolis Daily Star. Since then, the Star Tribune says, the building has undergone multiple expansions and renovations.

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