The office increases the newspaper's presence in Downtown St. Paul, the heart of the market of its newspaper competitor, The St. Paul Pioneer Press. The lease gives the newspaper prominent skyway space above the Pazzaluna restaurant, and also will include outdoor signage.
The building is owned and being redeveloped by Pak Properties, which has its office in the 220,000-sf Lowry Building. The terms of the lease were not disclosed. Pak Properties, headed by Rich Pakonen, is renovating the nearly century-old Lowry Building to include 131 residential condominium units--a $9-million project that is being aided by about $2 million in tax increment financing from the City of St. Paul. The new Start Tribune office is expected to open next month.
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