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Continued: Wells Fargo sees the value of stadium's proximity

  • Article by: LEE SCHAFER , Star Tribune
  • Last update: October 26, 2013 - 10:41 PM

“From Wells Fargo’s perspective they’re making a $300 million investment in this area of downtown,” Collins said. “They will anchor it with 5,000 to 6,000 employees. They are owners, not just tenants. They see this as a very long-term investment. [Visibility] is a very important part of what was attractive to them about the location.”

E.J. Narcise, an experienced naming rights adviser and principal with Maryland-based Team Services, would advise the Vikings to relax. In a big corporate headquarters center like the Twin Cities, he said, naming rights would remain a “fantastic” asset.

“They cut those overhead shots so tight that unless they put that Wells Fargo building in the parking lot, you won’t see it anyway,” he said. But he added, “it’s still rather shrewd and creative on the part of Wells Fargo.”

 

lee.schafer@startribune.com • 612-673-4302

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  • Ryan Companies proposal for a $400 million redevelopment of five blocks now dominated by surface parking lots between the downtown central business district and the new stadium. It includes 300 housing units, 40,000 square-feet of retail and 1.16 million square feet of office space in two 20-story towers. Credit: Renderings courtesy of Ryan Companies

  • Pedestrians pass in front of a Wells Fargo & Co. bank branch in New York, U.S., on Thursday, April 11, 2013. Wells Fargo was ranked as the largest U.S. residential mortgage servicer at the end of December, with contracts on $1.87 trillion in unpaid home loans. The bank said in 2011 that it would stop originating reverse mortgages. Photographer: Scott Eells/Bloomberg

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