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Back in February of 2006, I reported on a semiconductor (and related stuff) manufacturer - OSEMI - that moved out of Rochester and to Cannon Falls.
That didn't turn out as well as planned. The city blocked the company from putting up a liquid nitrogen tank, like the ones seen around Mayo Clinic and Kemps. That meant OSEMI could not be completely be operational. It has $12 million in equipment in storage.
Now OSEMI is moving to Red Wing. I'll have more on this soon.
A while back I posted that there was a lot of commercial real estate for sale in Rochester. Now I'm interested in residential.
Lots of reports have been coming out lately about residential real estate market including tone from the National Association of Realtors that says home prices fell in August compared with a year earlier, the first such decline in more than a decade. The average home cost went from $230,000 to $225,000.
I was wondering if anyone out there has a feel for how the southeastern Minnesota housing market is? I'm interested in any comments or feedback on residential real estate in the area. I'd love to hear from Realtors, brokers, bankers and average joes who are buying or selling a home.
The It Realty Group of Burnsville is marking the Mall of Cannon Falls and its Web site say the a sale is pending.
Of course, this is the same group that listed the Pottery Place Mall in Red Wing as sold. Then when I called on it, the mall owner Edward Rhymer (who is also the founder of It Realty and the father of the real estate agent Eddie Rhymer
) said that was mistake and the mall was not even for sale. That property is again listed on the It Realty Group's Web site. HHHmmm.. I wonder if it is really for sale this time?
Back to Cannon Falls, the 52,000-square-foot mall is located along U.S. 52 in Goodhue County. It has two anchors of Family Dollar and Ace Hardware. Occupancy stands at 81 percent. It was built in 1976. The lease rate is $8.00/SF/Year. The lot size is 7.50 Acres.
If this sale goes through, it will be interesting to find out how much it goes for.
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