The distinctive office tower with the triangular roof has been a part of the downtown St. Paul skyline for more than 20 years, and it may soon have a new name emblazoned across the top.
Travelers Cos. confirmed Wednesday that it's in negotiations to sell the 17-story tower, but didn't disclose who might be interested in purchasing it or what the sale price might be, according to the St. Paul Pioneer Press.
Travelers, a nationwide insurance provider, owns a second building across the street to the south, and neither one of the buildings is fully occupied, company spokesman Matt Bordonaro said.
Assuming the tower is sold, the 2,100 St. Paul-based employees would all be moved to the second building over a two-year period. No jobs would be impacted by the sale, Bordonaro told the Pioneer Press.
The Minneapolis St. Paul Business Journal says the property's market value is estimated at $43.4 million by Ramsey County.
The tower was built in 1991 by the St. Paul Cos., which had been headquartered in the city since its beginnings in 1853. That name was emblazoned across the top of the building until the St. Paul Cos. merged with Hartford, Conn.-based Travelers in 2004.
Travelers' headquarters is now in New York City, but the two founding cities still have the most employees: St. Paul with 2,100 and Hartford with 6,000.