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19 posts categorized "Auctions"

November 21, 2013

RCTC student housing sells for $2.2 million

It looks like the student housing apartment complex that serves Rochester Community and Technical College has sold.

68429100Evanston Heights, which has five buildings with 60 apartments on 21st Avenue Southeast, was purchased by Tailwind 830 21st LLC for $2.2 million on Nov. 14.

The Rochester-based Tailwind bought it from 831 21st Ave SE Holdings LLC, which has owned it for about a year and a half.

Real estate folks don't seem to go in for very creative LLC names these days. I would have done something like The Most Awesomest Student Housing Ever LLC, but that's just me. Heh.

Don't know if this ownership change will add up to any actual changes to the property, but I'll check on it.

Wednesday marked the first full day under a new brand for a hotel on Rochester's South Broadway.

The newly renovated 145-unit hotel at 1625 S. Broadway is now under the Wyndham Garden flag. It was an America's Best Value Inn and Suites hotel from 2011 until this week.

This shift from what many consider a budget hotel brand to a more upscale one has been the plan since the Wayzata-based Bay Ridge Properties purchased it in February 2012.

Bay Ridge purchased the 39-year-old hotel from the Phoenix Hotel Group of Wisconsin for $4.8 million.

Bay Ridge manages, owns and develops hotels throughout Minnesota, Texas and Missouri as well as having projects in the North Dakota oil fields and the luxury travel destination of Costa Rica.

"It has had some interchange with different brands over the years. We aim to take it a level higher by putting a brand on it that will perform well and tie it to some new markets as well," said Lee Fundanet, the chief operating officer of Bay Ridge Properties, back in 2012.

The hotel was under the La Quinta brand from 2006 to 2011. Before than, it was a Comfort Inn and Suites for eight years.

While its overall brand has changed many times, so has the name and look of the hotel's bar and restaurant. In 2008, it became Macho Nacho. Later it transformed into Ron's Place, which recently morphed into The Fieldhouse.

Now as part of this latest upgrade, a Cowboy Jack's Eatery is opening in the hotel.

Cowboy Jack's is a casual, American-style restaurant chain based in the Twin Cities. It is expected to open soon and will serve breakfast, lunch and dinner. The bar area will now be called The Lounge. -- Jeff Kiger

- See more at: http://www.postbulletin.com/business/heard-on-the-street-south-broadway-hotel-blooms-under-new/article_dcd53265-39bc-542f-a02a-dd01b4291d9c.html#sthash.ST0VUDsC.dpuf

Wednesday marked the first full day under a new brand for a hotel on Rochester's South Broadway.

The newly renovated 145-unit hotel at 1625 S. Broadway is now under the Wyndham Garden flag. It was an America's Best Value Inn and Suites hotel from 2011 until this week.

This shift from what many consider a budget hotel brand to a more upscale one has been the plan since the Wayzata-based Bay Ridge Properties purchased it in February 2012.

Bay Ridge purchased the 39-year-old hotel from the Phoenix Hotel Group of Wisconsin for $4.8 million.

Bay Ridge manages, owns and develops hotels throughout Minnesota, Texas and Missouri as well as having projects in the North Dakota oil fields and the luxury travel destination of Costa Rica.

"It has had some interchange with different brands over the years. We aim to take it a level higher by putting a brand on it that will perform well and tie it to some new markets as well," said Lee Fundanet, the chief operating officer of Bay Ridge Properties, back in 2012.

The hotel was under the La Quinta brand from 2006 to 2011. Before than, it was a Comfort Inn and Suites for eight years.

While its overall brand has changed many times, so has the name and look of the hotel's bar and restaurant. In 2008, it became Macho Nacho. Later it transformed into Ron's Place, which recently morphed into The Fieldhouse.

Now as part of this latest upgrade, a Cowboy Jack's Eatery is opening in the hotel.

Cowboy Jack's is a casual, American-style restaurant chain based in the Twin Cities. It is expected to open soon and will serve breakfast, lunch and dinner. The bar area will now be called The Lounge. -- Jeff Kiger

- See more at: http://www.postbulletin.com/business/heard-on-the-street-south-broadway-hotel-blooms-under-new/article_dcd53265-39bc-542f-a02a-dd01b4291d9c.html#sthash.ST0VUDsC.dpuf

Wednesday marked the first full day under a new brand for a hotel on Rochester's South Broadway.

The newly renovated 145-unit hotel at 1625 S. Broadway is now under the Wyndham Garden flag. It was an America's Best Value Inn and Suites hotel from 2011 until this week.

This shift from what many consider a budget hotel brand to a more upscale one has been the plan since the Wayzata-based Bay Ridge Properties purchased it in February 2012.

Bay Ridge purchased the 39-year-old hotel from the Phoenix Hotel Group of Wisconsin for $4.8 million.

Bay Ridge manages, owns and develops hotels throughout Minnesota, Texas and Missouri as well as having projects in the North Dakota oil fields and the luxury travel destination of Costa Rica.

"It has had some interchange with different brands over the years. We aim to take it a level higher by putting a brand on it that will perform well and tie it to some new markets as well," said Lee Fundanet, the chief operating officer of Bay Ridge Properties, back in 2012.

The hotel was under the La Quinta brand from 2006 to 2011. Before than, it was a Comfort Inn and Suites for eight years.

While its overall brand has changed many times, so has the name and look of the hotel's bar and restaurant. In 2008, it became Macho Nacho. Later it transformed into Ron's Place, which recently morphed into The Fieldhouse.

Now as part of this latest upgrade, a Cowboy Jack's Eatery is opening in the hotel.

Cowboy Jack's is a casual, American-style restaurant chain based in the Twin Cities. It is expected to open soon and will serve breakfast, lunch and dinner. The bar area will now be called The Lounge.

- See more at: http://www.postbulletin.com/business/heard-on-the-street-south-broadway-hotel-blooms-under-new/article_dcd53265-39bc-542f-a02a-dd01b4291d9c.html#sthash.ST0VUDsC.dpuf

Wednesday marked the first full day under a new brand for a hotel on Rochester's South Broadway.

The newly renovated 145-unit hotel at 1625 S. Broadway is now under the Wyndham Garden flag. It was an America's Best Value Inn and Suites hotel from 2011 until this week.

This shift from what many consider a budget hotel brand to a more upscale one has been the plan since the Wayzata-based Bay Ridge Properties purchased it in February 2012.

Bay Ridge purchased the 39-year-old hotel from the Phoenix Hotel Group of Wisconsin for $4.8 million.

Bay Ridge manages, owns and develops hotels throughout Minnesota, Texas and Missouri as well as having projects in the North Dakota oil fields and the luxury travel destination of Costa Rica.

"It has had some interchange with different brands over the years. We aim to take it a level higher by putting a brand on it that will perform well and tie it to some new markets as well," said Lee Fundanet, the chief operating officer of Bay Ridge Properties, back in 2012.

The hotel was under the La Quinta brand from 2006 to 2011. Before than, it was a Comfort Inn and Suites for eight years.

While its overall brand has changed many times, so has the name and look of the hotel's bar and restaurant. In 2008, it became Macho Nacho. Later it transformed into Ron's Place, which recently morphed into The Fieldhouse.

Now as part of this latest upgrade, a Cowboy Jack's Eatery is opening in the hotel.

Cowboy Jack's is a casual, American-style restaurant chain based in the Twin Cities. It is expected to open soon and will serve breakfast, lunch and dinner. The bar area will now be called The Lounge.

- See more at: http://www.postbulletin.com/business/heard-on-the-street-south-broadway-hotel-blooms-under-new/article_dcd53265-39bc-542f-a02a-dd01b4291d9c.html#sthash.ST0VUDsC.dpuf

Wednesday marked the first full day under a new brand for a hotel on Rochester's South Broadway.

The newly renovated 145-unit hotel at 1625 S. Broadway is now under the Wyndham Garden flag. It was an America's Best Value Inn and Suites hotel from 2011 until this week.

This shift from what many consider a budget hotel brand to a more upscale one has been the plan since the Wayzata-based Bay Ridge Properties purchased it in February 2012.

Bay Ridge purchased the 39-year-old hotel from the Phoenix Hotel Group of Wisconsin for $4.8 million.

Bay Ridge manages, owns and develops hotels throughout Minnesota, Texas and Missouri as well as having projects in the North Dakota oil fields and the luxury travel destination of Costa Rica.

"It has had some interchange with different brands over the years. We aim to take it a level higher by putting a brand on it that will perform well and tie it to some new markets as well," said Lee Fundanet, the chief operating officer of Bay Ridge Properties, back in 2012.

The hotel was under the La Quinta brand from 2006 to 2011. Before than, it was a Comfort Inn and Suites for eight years.

While its overall brand has changed many times, so has the name and look of the hotel's bar and restaurant. In 2008, it became Macho Nacho. Later it transformed into Ron's Place, which recently morphed into The Fieldhouse.

Now as part of this latest upgrade, a Cowboy Jack's Eatery is opening in the hotel.

Cowboy Jack's is a casual, American-style restaurant chain based in the Twin Cities. It is expected to open soon and will serve breakfast, lunch and dinner. The bar area will now be called The Lounge.

- See more at: http://www.postbulletin.com/business/heard-on-the-street-south-broadway-hotel-blooms-under-new/article_dcd53265-39bc-542f-a02a-dd01b4291d9c.html#sthash.ST0VUDsC.dpuf

Wednesday marked the first full day under a new brand for a hotel on Rochester's South Broadway.

The newly renovated 145-unit hotel at 1625 S. Broadway is now under the Wyndham Garden flag. It was an America's Best Value Inn and Suites hotel from 2011 until this week.

This shift from what many consider a budget hotel brand to a more upscale one has been the plan since the Wayzata-based Bay Ridge Properties purchased it in February 2012.

Bay Ridge purchased the 39-year-old hotel from the Phoenix Hotel Group of Wisconsin for $4.8 million.

Bay Ridge manages, owns and develops hotels throughout Minnesota, Texas and Missouri as well as having projects in the North Dakota oil fields and the luxury travel destination of Costa Rica.

"It has had some interchange with different brands over the years. We aim to take it a level higher by putting a brand on it that will perform well and tie it to some new markets as well," said Lee Fundanet, the chief operating officer of Bay Ridge Properties, back in 2012.

The hotel was under the La Quinta brand from 2006 to 2011. Before than, it was a Comfort Inn and Suites for eight years.

While its overall brand has changed many times, so has the name and look of the hotel's bar and restaurant. In 2008, it became Macho Nacho. Later it transformed into Ron's Place, which recently morphed into The Fieldhouse.

Now as part of this latest upgrade, a Cowboy Jack's Eatery is opening in the hotel.

Cowboy Jack's is a casual, American-style restaurant chain based in the Twin Cities. It is expected to open soon and will serve breakfast, lunch and dinner. The bar area will now be called The Lounge.

- See more at: http://www.postbulletin.com/business/heard-on-the-street-south-broadway-hotel-blooms-under-new/article_dcd53265-39bc-542f-a02a-dd01b4291d9c.html#sthash.ST0VUDsC.dpuf

Wednesday marked the first full day under a new brand for a hotel on Rochester's South Broadway.

The newly renovated 145-unit hotel at 1625 S. Broadway is now under the Wyndham Garden flag. It was an America's Best Value Inn and Suites hotel from 2011 until this week.

This shift from what many consider a budget hotel brand to a more upscale one has been the plan since the Wayzata-based Bay Ridge Properties purchased it in February 2012.

Bay Ridge purchased the 39-year-old hotel from the Phoenix Hotel Group of Wisconsin for $4.8 million.

Bay Ridge manages, owns and develops hotels throughout Minnesota, Texas and Missouri as well as having projects in the North Dakota oil fields and the luxury travel destination of Costa Rica.

"It has had some interchange with different brands over the years. We aim to take it a level higher by putting a brand on it that will perform well and tie it to some new markets as well," said Lee Fundanet, the chief operating officer of Bay Ridge Properties, back in 2012.

The hotel was under the La Quinta brand from 2006 to 2011. Before than, it was a Comfort Inn and Suites for eight years.

While its overall brand has changed many times, so has the name and look of the hotel's bar and restaurant. In 2008, it became Macho Nacho. Later it transformed into Ron's Place, which recently morphed into The Fieldhouse.

Now as part of this latest upgrade, a Cowboy Jack's Eatery is opening in the hotel.

Cowboy Jack's is a casual, American-style restaurant chain based in the Twin Cities. It is expected to open soon and will serve breakfast, lunch and dinner. The bar area will now be called The Lounge.

- See more at: http://www.postbulletin.com/business/heard-on-the-street-south-broadway-hotel-blooms-under-new/article_dcd53265-39bc-542f-a02a-dd01b4291d9c.html#sthash.ST0VUDsC.dpuf

Wednesday marked the first full day under a new brand for a hotel on Rochester's South Broadway.

The newly renovated 145-unit hotel at 1625 S. Broadway is now under the Wyndham Garden flag. It was an America's Best Value Inn and Suites hotel from 2011 until this week.

This shift from what many consider a budget hotel brand to a more upscale one has been the plan since the Wayzata-based Bay Ridge Properties purchased it in February 2012.

Bay Ridge purchased the 39-year-old hotel from the Phoenix Hotel Group of Wisconsin for $4.8 million.

Bay Ridge manages, owns and develops hotels throughout Minnesota, Texas and Missouri as well as having projects in the North Dakota oil fields and the luxury travel destination of Costa Rica.

"It has had some interchange with different brands over the years. We aim to take it a level higher by putting a brand on it that will perform well and tie it to some new markets as well," said Lee Fundanet, the chief operating officer of Bay Ridge Properties, back in 2012.

The hotel was under the La Quinta brand from 2006 to 2011. Before than, it was a Comfort Inn and Suites for eight years.

While its overall brand has changed many times, so has the name and look of the hotel's bar and restaurant. In 2008, it became Macho Nacho. Later it transformed into Ron's Place, which recently morphed into The Fieldhouse.

Now as part of this latest upgrade, a Cowboy Jack's Eatery is opening in the hotel.

Cowboy Jack's is a casual, American-style restaurant chain based in the Twin Cities. It is expected to open soon and will serve breakfast, lunch and dinner. The bar area will now be called The Lounge.

- See more at: http://www.postbulletin.com/business/heard-on-the-street-south-broadway-hotel-blooms-under-new/article_dcd53265-39bc-542f-a02a-dd01b4291d9c.html#sthash.ST0VUDsC.dpuf

June 19, 2012

Roch. auction house handles liquidation of vodka co.

Instead of buying a just bottle of vodka to make cocktails, how about buying a whole vodka company — tanks, patented distillation process, bottle design, trademarked brand plus everything else?

001That's exactly what is on the block this week as Shakers Vodka, the "ultra-premium" vodka made in Minnesota from wheat grown here, is being auctioned off.

And a Rochester firm, Maas Cos., is the steady hand running the online auction to sell everything related to Shakers Vodka.

It is a true "liquidation" sale.

The story starts back in 2003, when Shakers launched and soon became kind of a rock star that had the bar crowd buzzing. Its smooth taste and frosted Martini shaker-shaped bottles really shook things up.

It was a creation from the same the guys who brewed up Pete's Wicked Ale, the popular brown ale from the early days of the craft beer revolution. They sold that off in 1998 and moved on to Minnesota vodka.

This time the bar stool fairy tale didn't have a happy ending. (Technically, Pete's Wicked Ale didn't end well either, since its owner stopped making it last year due to low sales.)

002In January, Blaine-based Infinite Spirits Inc. filed for Chapter 7 bankruptcy. That where Rochester's Maas Cos. comes into the tale.

Maas is known as an auction house that can handle out-of-the-ordinary industrial liquidation and real estate sales. The company has sold the assets of manufacturers, university campuses, ethanol plants and more.

The sky's the limit of what the company will auction off. The Rochester auction house even sold off a squadron of vintage biplanes that Minnesota's Schwan Food Corp. owned and flew in air shows to promote its Red Baron Pizza.

The word is that it was Maas' experience with selling ethanol plants, which aren't that much different from alcohol distilleries, that may have helped clinch the bid for this gig.

This auction is up and accepting bids for individual items — like a 16,000-gallon stainless steel tank — at www.shakersvodkaauction.com.

The game will change on Thursday, when the high-rollers are expected to belly up to the bar and lay down their bids to buy the whole kit and ka-bottle.

Bidding is scheduled to end at noon on June 26. That's when Maas will run the numbers to see which method brought the best price — the one-price-for-it-all bids or the sum of all of the bids for the individual items.

If the tally of all of the individual bids tops the biggest "for everything" bid, the big bidder will get a chance to match it. They will need to be $10,000 more than the collective bidders to win and put Shakers on their shelf.

December 30, 2011

Auction house makes a bid for more growth in 2012

An unconventional Rochester auction house is making a bid for growth in 2012 with a new home that almost doubles its space.

After seeing its sales spike by 100 percent this year over 2010, Krause Auctioneering is moving to the lower level of the Schmitt Music building at 1765 U.S. 52 North.

KrauselogoRon Krause, auctioneer and co-owner, says this move will give his rapidly growing business about 3,000 square feet to receive, store, prepare and ship auction items. That's almost twice the 1,600 square feet in its existing spot at 497 37th St. N.E.

He expects to be calling auctions from the new location by Sunday.

A new home is not the only change at Krause Auctioneering. A new co-owner — Bob Klein of Rochester — has joined the operation as its chief financial officer, with Krause serving as CEO.

This is all follows a very successful year for the Rochester auction house that saw it tally a "hammer price" of about $293,000 in sales.

At this point, the staff was grown to 11. That's up from just two last year.

"Once we're settled in the new place, we hope to add more," Krause says.

While he has overseen auctions— in person and online — for years, It is a new hybrid of the two that is spurring the business boost.

Don't expect the traditional auction with a crowd seated in front of an auctioneer.

All of the auctions are online now, through the company's website www.krauseauctioneering.com.

However, there is a unique twist that sets Krause apart from eBay and other online auction sites. Many of the online auctions are "live," with Krause doing the traditional price calling to acknowledge and spur bids on camera as people all over the country and the world vie to buy an art sculpture, necklace, comic book or whatever.

August 13, 2010

Roch. Builders to sell 'stuff' @ Sat. garage sale

Here's a note for all of the garage sale fans out there.

Garagesale_000 One of the big Rochester sales of the year -the Annual Remodelers Council Garage Sale sponsored by the Rochester Area Builders is happening this weekend.

If you've never been to this one before, you need to check this out.

It runs from 8 a.m. to noon in the RAB parking lot at 108 Elton Hills Lane N.W. That's tucked behind Bruegger's Bagels, across from the Rec Center.

Kevinreckinger Kevin Reckinger, the RAB member of charge of this year's sale, says, "There's a lot of …stuff. Come out and buy some…stuff."

With the items all donated from people related with construction industry, you'll find lots of stuff to help finish up those annoying household projects. One year, I got a small batch of tile to create a cool back splash in the kitchen. I never did it, but I got a great deal on the tile. Heh.

AND there will be all the typical garage sale stuff …knicks AND knacks as well as a kitchen sink.

Some of that stuff includes:

• Appliances, furniture
• Countertops, doors
• Cabinets, toys
• Lighting, books
• Windows, household items
• Flooring, plumbing fixtures

The funds raised through the sale are used by the Remodelers Council to reach out to the public through advertising, community projects, and education such as seminars and the Remodel It Right Display at the Rochester Area Builders Annual Home Show.

Items not sold will be donated to Habitat ReStore and Goodwill.

March 22, 2010

Remember the Colonial Inn in downtown Roch.?

OK, this is a completely random subject, but one of my automatic Web searches triggered this nostalgic moment.

Dpchtlminn1 Colonial inn A 1917 postcard depicting Rochester's former Colonial Inn hotel at 114 Second St. S.W. is for sale right now on eBay.

Yeah, I know EVERYTHING is for on eBay right now, but this just caught my attention.

Mayo Clinic bought the Colonial Inn for $1.4 million in 2001. The Colonial Inn House Cafe, a sort of informal Mayo Clinic smokers lounge and good place for breakfast in the basement of the inn, closed Dec. 12, 2002.

Then the hotel was demolished in 2007. 122607colonialinn2jkIt is currently a Mayo parking lot.

Another notable point (to me personally) is that the postcard was mailed to Argus, Ind., a small town that was covered by a newspaper – The Sentinel – I worked for years ago.

The name of the Indiana city where The Sentinel newspaper is based?

Rochester.

OK, that ends Jeff's nostalgia session for the day and we return to our regularly scheduled business news and buzz.

July 09, 2009

Rochester real estate on auction block

ShowPhoto-1.aspx Look for 2,566  square feet of a Rochester commercial building plus a rental/residential home will hit the auction block on July 14 @ 5 p.m.


Rochester auction house Maas Cos. is handling the sale.

The primary building - a house-like commercial building is located at 411 12th Street S.E. That translates to U.S. 14 East.

March 11, 2009

Construction co. closed, auctioning equipment

Since everyone already believes I only report the so-called "bad" stuff, I thought I might as well add this one. I know a few of you have commented on this already on the blog.

04
After more than 35 years of building in the Rochester area, the Floyd Larson Construction Co. closed earlier this year.

And the reason is a familiar one.

"With the local housing market dipping so badly.we didn't have any work coming up," said Andy Larson, one of the three owners. He owns the business with Scott Krom and Scott Larson.

Look for Rochester's Grafe Auction to sell off the tools, equipment and trucks on March 24 at 3848 U.S. 14 East.

Preview starts at 9 a.m. and bidding starts at 10:30 a.m.

February 06, 2009

Hundred Acre Woods = Foreclosure

So I saw Rochester's Hundred Acres Woods development in the our classified section this week.

Hundredacreimage
It seems Lakeland Construction is foreclosing on the lengthy list of lots in the Floyd Calhoun's housing development by the Eastwood Golf Course. One lengthy legal ad (filling up about four classified columns. That should cover my modest expenses this week) detailed more than $7 million worth of property.

A second ad (This one poured across two columns) tallied up to $1.2 million.

The image here is from a 2005 brochure.

Beside Floyd Calhoun of Eden Prairie, Lakeland also named McGhies & Betts, lots of related Calhoun companies and "Jane and John Doe and all other persons unknown claiming any right, title, estate, interest or lein in the real estate."

Hhmmm... I wonder if that includes Winnie The Pooh and Piglet. I mean they lived in trees, but they did have some construction build out and value in those dens.

 The Sheriff's auction is slated for March 11, if the money is not paid up by then.

October 10, 2008

2 closed Roch. eateries + auctions = Oct. 24

If you are looking to start a restaurant, you might want to plan on doing some shopping on Oct. 24.
Signauction7t
The contents of two closing Rochester restaurants – Camille's Sidewalk Cafe and Salad Bros. on Second Street Southwest – will be auctioned off that day.

The way I understand it, Salad Bros. sale is slated for 10 a.m. and Camille's for 2 p.m.

The double header should have the folks at Grafe Auction in Spring Valley hopping that Friday.

September 23, 2008

Trading Post tool auction on Oct. 18-19

100907tradingpost2jkHere's some more detail on the transformation of the Trading Post tool store in Rochester.

I believe the store in the next week or so – at least by Oct. 1. Then the folks at Grafe Auction will auction off excess inventory – "Hundreds of thousands of dollars worth of tools" – on Oct. 18-19.

While this store is closing after about a year in business, its owner Pace Electronics is still staying in the tool business. It will offer "pretty much wholesale business-to-business" sales as well as online catalog sales, Pace leader Pat Deutsch.

And the original Trading Post store, based in Gordonsville, Minn., will stay open. In fact, Deutsch says his company plans to remodel it to make it more "consumer friendly."