School ring maker Jostens became the latest corporation to join the office downsizing trend, announcing Wednesday it will sublease two of its three floors of headquarters space in an Bloomington building.
Jostens, which has been in the Minnesota Center building since 2018, has hired Monarch CRE to sublease its fifth and sixth floors, a space totaling 35,000 square feet off France Avenue and Interstate 494.
"From the beginning of [the] pandemic to now, we've gone to a hybrid work model that has been very effective in supporting our growth," Jostens chief human resource officer Florie Ellwein said in a statement Wednesday. "... We [have] increased remote workers and embraced the digital age."
Jostens now has 250 hybrid workers in Bloomington. It has 11 other locations, including three outside the United States.
Monarch CRE Principal Ben Jensen said in a statement he doesn't expect the Jostens office space to sit empty for long,
"Not all sublease space is created equal," he said. "A lot of the sublease space is poor quality and in the wrong location. This is high quality and the right location."
Jostens' downsizing is relatively small but follows similar action a fleet of corporations have taken in recent weeks and months. Most recently, Wells Fargo said it will sell its massive home mortgage campus in south Minneapolis as it consolidates its Twin Cities workers at other metro-area buildings.
Staff writer Jim Buchta contributed to this report.
