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August 13, 2007

Dtwn Roch. biz moving is ...?

Here's the answer to that Biz Buzz tease from a while back - C.O. Brown Agency is moving out of downtown Rochester, though not until mid-2008.

Here's an early run at this that is in today's Heard on the Street column. I did talk to Steve Seymour of S&L Services, who manages C.O. Brown current building for owner Les Nelson. He says while they are open to any tenant (of course), they belive a bank would be best fit in that building. It does still have a couple drive-up lanes.

Nelson of Clear Lake, Iowa bought the C.O. Brown building at 300 S. Broadway and the former Venture Computer Systems building at 316 S. Broadway in late 2005 for $1.6 million.

Here's what is in the dead tree edition today:

By this time next year, C.O. Brown Agency Inc. will probably no longer have a downtown Rochester address.

Developer Jeff Brown is planning a 27,000-square-foot financial center at 19th Street and West Circle Drive. C.O. Brown, currently at 300 S. Broadway, could move into about 16,000 square feet in early to late 2008, he said.

Home Federal Bank is also slated to take about 5,000 square feet of the space in the two-story center for a full service branch, said Brad Becker, senior vice president of business banking.

Home Federal will own its space, and a group of local investors led by Brown will own the C.O. Brown spot. An additional 6,000 square feet will be available for other financial services businesses, Brown said.

Why build a financial center near a movie theater and a restaurant?

“As a developer, I just thought this was the strongest remaining corner in Rochester for commercial viability,” he said.


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Sell it to Mayo.

no, no, no....renting ot Mayo would bring in much more $$.

I can't really see a bank moving in there. It's one of the more harder locations to get in and out of.

Good trick, for insurance folk to occupy 7X more space than the building offers. 160,000 sf in a 23,000 building? Wow.

Be a good place for IHOP to move into, if they don't choose Paine's first.

No parking at Paine's, so not a good choice


Good catch, Mick. What's a zero or two extra, huh? Heh.

C.O. Brown = 16,000 square feet. It was correct in print today.

Thanks, as always, for reading closely and helping me be accurate.

IHOP?? As in stacks of warm buttermilk pancackes IHOP????

Excuse me while I clean the drool off my keyboard....

Where did this rumour come from? Any validity Jeff? I've mailed them twice asking them to open a store here in Rochester, never heard back.

Man I miss my IHOP.

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