Paychex Opens New Downtown Cincinnati Office

Paychex celebrates the $36 million transformation of former Saks Fifth Avenue department store into new dual headquarters location.

Published on Feb. 11, 2026

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Paychex, a leading provider of payroll and HR solutions, has opened a new downtown office in Cincinnati, marking a major milestone for the company and the city. The $36 million project transformed the former Saks Fifth Avenue department store into a 40,000 square foot Class A office space, with Paycor, a Paychex company, as the anchor tenant. The grand opening ceremony was attended by state, city, and business leaders, who praised the project's impact on revitalizing the Fountain District and connecting it to the nearby First Financial Center and Elm Street Plaza.

Why it matters

The new Paychex office is a critical development for Cincinnati's urban core, enhancing the Fountain District and helping to connect it to other key downtown areas. The project also represents Paychex's deepened investment in the city, with Cincinnati now serving as a dual headquarters location for the company alongside its existing corporate headquarters in Rochester, New York.

The details

The 40,000 square foot office space will serve as a hub for Paychex and Paycor training, corporate events, and hosting employees from across the country. The building features a grand staircase, more than 100 flexible workstations, and multi-purpose event spaces. Two commercial spaces on the street level have already been filled, with Salazar restaurant and Flight Club social darts experience now operating.

  • The former Saks Fifth Avenue building was purchased by 3CDC in March 2024.
  • Construction on the Paychex Headquarters began in April 2024.
  • The project was completed in 21 months, with the grand opening ceremony held on February 10, 2026.
  • Salazar restaurant opened in November 2025, and Flight Club opened in December 2025.

The players

Paychex

A leading provider of payroll and HR solutions, Paychex is now establishing a dual headquarters location in Cincinnati alongside its existing corporate headquarters in Rochester, New York.

Paycor

A Paychex company that will be the anchor tenant in the new downtown Cincinnati office.

3CDC

The Cincinnati Center City Development Corp., a private non-profit real estate developer that purchased the former Saks Fifth Avenue building and oversaw the $36 million transformation project.

John Gibson

The President and CEO of Paychex, who spoke at the grand opening ceremony about the company's deepened investment in Cincinnati.

Aftab Pureval

The Mayor of Cincinnati, who praised the project's impact on revitalizing the Fountain District.

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What they’re saying

“This marks a major milestone for Paychex, Paycor, and the City of Cincinnati. Restoring and occupying a property with such a rich history is a privilege, and we are proud to be anchoring this new space that will bring more activity and economic energy to The Fountain District.”

— John Gibson, President and CEO, Paychex (Paychex)

“This year is off to a strong start for our city, marked by last month's unveiling of the reimagined First Financial Center and now the exciting grand opening of Paycor Headquarters. The building, once vacant and underutilized, has been brought back to life. The momentum these projects are creating in the Fountain District is palpable.”

— Aftab Pureval, Mayor of Cincinnati (Paychex)

What’s next

The judge in the case will decide on Tuesday whether or not to allow Walker Reed Quinn out on bail.

The takeaway

The new Paychex headquarters in downtown Cincinnati represents a significant investment in the city's urban core, revitalizing a once-vacant building and helping to connect the Fountain District to other key downtown areas. The project's success highlights the power of public-private partnerships and the continued resilience of mission-driven businesses in an evolving retail landscape.