TCF Financial Corp. is moving all its employees out of downtown Minneapolis to a new corporate campus in Plymouth. Company officials notified its employees of the move Monday, the Star Tribune reports.
TCF says it is consolidating several office locations and will house 1,500 employees at its Plymouth campus, including 1,150 who work in the TCF Tower and TCF Bank building at 8th and Marquette in Minneapolis, and another 200 employees at a customer service center in Brooklyn Center, according to the Star Tribune.
Bank officials said the consolidation will improve communication and efficiency and be a “significant upgrade in the quality of workspace” for many workers. The Plymouth campus will have free parking, a nearby daycare center and an on-site fitness facility.
"The overwhelming sentiment from employees today has been positive," TCF spokesman Mark Goldman said, according to the Minneapolis St. Paul Business Journal. "This comes from work we did to survey employees about the kind of working environment they want."
TCF employs about 3,000 people in Minnesota, and the moves won't result in any layoffs, said bank officials. TCF Financial headquarters is in Wayzata, a short drive away from the Plymouth campus.
The shift will happen in phases beginning in the middle of 2015 and wrap up in 2016.
As for the soon-to-be-vacated space in downtown Minneapolis, the current owner, Franklin Street Properties, has been looking at various development scenarios for a while, according to the Business Journal.
There are two buildings -- the TCF Tower and the TCF Bank Building. The tower, at 121 S. 8th Street, has multiple tenants and will likely remain largely as it is. The site of the smaller, four-story bank building at 801 Marquette Ave. may be redeveloped, according to the Business Journal.
The Journal says Franklin Street, which is based in Massachusetts, has been discussing various scenarios with Minneapolis-based Ryan Cos, which manages the TCF buildings.