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School District Plans to Use Office Site for Second Local High School
TEANECK, NJ – June 26, 2020 -- Cognizant (Nasdaq: CTSH) announced it will donate its two office buildings and surrounding land in Minot, N.D. to Minot Public School District #1. In a special open session meeting today, Cognizant’s offer to gift the property located at 2000 21st Avenue NW to the school district was accepted following a unanimous vote by the Minot School Board.
The 37-acre Cognizant property includes two buildings with combined capacity of 122,585 square feet, ample parking, and green space. The main building is approximately 115,000 square feet, which the school board plans to convert into a high school for grades 9-12. A second, smaller building will potentially house special academic programs.
“Cognizant has been a part of the Minot community for many years. We are very pleased to be working with Minot Public School District #1 knowing they have plans to use these facilities for the good of the community,” said Dharmendra Kumar (DK) Sinha, President, North America, at Cognizant. “This is a sizeable office campus, and for some time, we have had more space than we need to meet our business requirements.”
“Cognizant is making an incredible gift to both the city of Minot and to future generations that will learn and grow at this wonderful facility,” said Dr. Mark Vollmer, Superintendent of Minot Public Schools. “I want to thank Cognizant for its out-of-the-box thinking when it came to the future of this property. The facility’s North Minot location, pre-existing infrastructure, and excellent condition mean that we will finally be able to fulfill a dream 40 years in the making of a second local high school for the Minot community.”
Under terms of the agreement with the school board, Cognizant will exit the property by December 31, 2021. The company will maintain some operations at the site until that time, paying a pro rata share of the facility operating expenses back to the school district.
Cognizant currently employs approximately 150 associates in Minot. They provide customer service, mailroom operations, and claims processing for insurance, life sciences, and healthcare clients. With the property transfer, Minot-based Cognizant associates will continue to provide client services remotely or via alternative approaches.
“While we are proposing to move operations out of the 21st Avenue space, we intend to continue serving clients here, maintaining our presence as an employer in Minot. We are grateful for the partnerships with our forward-thinking clients who have been supportive of this approach,” Sinha added.
“We are delighted that our offer to donate the facility to the Minot Public School District was accepted,” said Michelle Bacon, Minot Site Lead, at Cognizant. “We explored several options in determining the site’s future, and we’re excited that the community will benefit from use of the property, particularly in the capacity of contributing to educational opportunities for our local students.”
“We are extremely pleased to see the Minot Public School District vote in favor of Cognizant’s very generous donation,” said L. John MacMartin, President, Minot Area Chamber of Commerce. “Having a second local high school will open more avenues for educational growth for Minot’s youth and serve as an important driver of activity and economic growth for the region. We appreciate Cognizant making this contribution to the community.”
The transfer of ownership for the property is expected to be finalized later this summer, pending completion of a 30-day due diligence period and satisfaction of other customary closing conditions.
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