Mountain Equipment Co-op (MEC) has purchased the Portage Avenue building that houses its Winnipeg store from Centre Venture, the city's downtown development agency. The Canadian outdoor retailer bought the 20,000-square-foot building for $2.35 million.
“Purchasing the Winnipeg store building was a strategic business decision,” said MEC's chief financial officer Sandy Treagus. “We made a significant investment in Winnipeg when we rebuilt the building to our green building standards, and the purchase demonstrates our commitment to remain a vital part of the city's burgeoning downtown.”
The outdoor retailer's Winnipeg store has enjoyed steady growth over the last three years, increasing by eight per cent from 2006 to 2007 and a further three per cent during the last year.
MEC opened its Winnipeg store in Spring 2002. In 2005, the store receivedLEED (Leadership in Energy and Environmental Design) Gold certification, the only retail store in Canada at the time to receive the designation.
“Centre Venture has been a valuable partner throughout our business relationship with them,” said Treagus. “MEC wishes Centre Venture every success in their ongoing efforts to revitalize Winnipeg's downtown.”
In addition to a retail operation, the MEC building is home to several Manitoba environmental organizations. MEC supports the organizations by providing them with a preferred rate on their office leases.
Mountain Equipment Co-op has over 2.9 million members, of which more than 75,000 live in Manitoba. The co-operative's Winnipeg store currently employs 44 people in a mix of part-time and full-time positions.
Established in 1971, MEC operates 12 destination stores in central locations across Canada as well as mail and web-order services.
