Fastenal buys JC Penney building for $2.45 million

2013-11-20T00:00:00Z 2013-12-02T09:51:15Z Fastenal buys JC Penney building for $2.45 millionBy Nathan Hansen nathan.hansen@winonadailynews.com Winona Daily News

Fastenal recently expanded in Winona, with a $2.45 million purchase of the JC Penney property at U.S. Hwy. 61 and Pelzer Street.

The department store won’t be going anywhere — it will continue to lease its portion of the building, according to documents filed at the Winona County recorder’s office. Terms of the lease were not disclosed.

Fastenal plans to use the space for a warehouse, according to the documents. Officials at Fastenal did not immediately return calls Tuesday.

The sale was recorded late last week. Fastenal purchased the property from Pennwin Associates of New York for $100,000 down.

The building formerly housed Econofoods, which closed in January 2005.

Copyright 2015 Winona Daily News. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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