Cabela's grabs development spot abandoned by Bass Pro

Sidney, Neb.-based Cabela's Inc. announced late last week it would be building a roughly 100,000-square-foot store near Lambeau Field in Green Bay, Wis., a spot that competitor Bass Pro Shops passed on in early 2011.

Bass Pro Shops cut short a deal to be part of the Green Bay Packers’ Titletown Sports District in February 2011, citing concerns about potential wetland damage construction would cause. Of the 21-acre property, 12 acres are considered wetlands, and construction would destroy 1.65 acres, according to the Milwaukee-Wisconsin Journal Sentinel. Packers representatives are working with Ducks Unlimited to create four acres of wetlands elsewhere to counteract the move.

“We were unaware of any wetland issue and have not and will not be in favor of doing anything to harm wetlands, wherever they might be,” Bass Pro Shops spokesman Larry Whiteley said at the time.

Construction of the Cabela's store, which would employ approximately 175, is expected to begin in the fall and end in the summer of 2013, according to a news release.

“Wisconsin is full of people who are passionate for the outdoors, people who share the Cabela’s lifestyle and who are known for their loyalty and dedication to sports. It’s a wonderful area to expand our retail footprint,” Cabela’s CEO Tommy Millner said in the release. Cabela's has two other stores in Wisconsin. Bass Pro doesn't have any stores in  the state, according to its Web site.

Publicly traded Cabela's (NYSE: CAB) operates 36 retail stores in the U.S. and Canada.

As of 11:01 a.m., the company's shares were trading at $35.74, compared to its 52-week range of $19.12 to $41.61.[[In-content Ad]]