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Incentives Move Gander Mountain's HQ

ST. PAUL-The sporting goods retailer has agreed to lease 80,000 sf at the old Burlington Northern Building, with the help of the city. The move is a bright spot for the office market which has seen record-high vacancy rates.

By Jim McCartney | Updated on September 30, 2004

ST. PAUL-Sporting goods retailer Gander Mountain says it will move its corporate headquarters to the old Burlington Northern Building from Bloomington, MN. The 233 employees in its corporate offices will move to 80,000 sf in the 1-million-sf building, the largest office building in St. Paul and one of the largest in the Twin Cities.

Gander signed a 10-year lease with Frauenshuh Cos., which manages and leases the building, now called 180 East Fifth. Gander Mountain comes at a critical time for Downtown St. Paul which has seen its office vacancy rate hit a decade-high 25%, according to United Properties, a Bloomington, MN-based commercial real estate firm. The empty space is due to a sluggish economy, corporate consolidations and relocations, and has appeared despite the opening of the Xcel Energy Center and the conversion of several buildings into housing.

While it’s a boost for the market, it will take more than that to turn things around, according to real estate officials. The city may tap its strategic investment fund, which helps lure companies to St. Paul by offering up to $3,000 per job they bring to the city, including those added as the firm grows.

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