Golden Valley firm purchases historic St. Paul office building

  • Updated: July 8, 2014 - 9:32 PM
hide

This historic property at 180 E. 5th St. in St. Paul has been sold to a Golden Valley-based firm that sees value in the office building’s proximity to Green Line light rail.

Photo: JEFF WHEELER • jwheeler@startribune.com,

CameraStar Tribune photo galleries

Cameraview larger

A Golden Valley-based firm has purchased 180 Fifth Street East, an office building in downtown St. Paul that is strategically located near the Union Depot and light-rail trains.

Talon Real Estate Holding Corp. paid $40 million for the historic structure, which dates back to 1914, according to Greg Pfleider, Talon’s senior vice president.

The 672,000-square-foot structure, which spans 13 stories, is about 62 percent leased, but Pfleider says there’s enormous potential for the office space, especially due to its proximity to the new Green Line light-rail service.

“We are right next door to light rail; it is a very enticing location,” he said.

Several tenants occupy the landmark building, including sports retailer Gander Mountain’s headquarters.

Talon recently bought 10301 W. Bren Road in Minnetonka, the home of the Minneapolis Mart, for $18 million.

JANET MOORE

  • get related content delivered to your inbox

  • manage my email subscriptions

ADVERTISEMENT

Connect with twitterConnect with facebookConnect with Google+Connect with PinterestConnect with PinterestConnect with RssfeedConnect with email newsletters

ADVERTISEMENT

Advertisement
Golden Gavel by Star Tribune

Countdown to great deals

Bid Sept. 21-29

ADVERTISEMENT

ADVERTISEMENT

ADVERTISEMENT

ADVERTISEMENT

ADVERTISEMENT

 
Close