Just Listed brings you the latest news and information from the Twin Cities-area commercial and residential real estate market and beyond from veteran reporters Jim Buchta and Kristen Leigh Painter.

Local firm buys downtown St. Paul building

Posted by: Janet Moore Updated: July 8, 2014 - 1:00 PM

 

 

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.

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

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 was in the news recently after it bought 10301 Bren Road West, the home of the Minneapolis Mart for $18 million.

ADVERTISEMENT

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

ADVERTISEMENT

ADVERTISEMENT

ADVERTISEMENT

ADVERTISEMENT

ADVERTISEMENT

question of the day

Poll: How will the Gophers and Vikings do this weekend?

Weekly Question

ADVERTISEMENT