A commercial building in northeast Rochester recently sold for $535,000.
On Jan. 30, Pensco Trust Co. of Denver bought the 4,680-square-foot former Stifel, Nicolaus & Co. building at 305 Alliance Place. The empty building is north of 37th Street Northeast and East River Road N.E.
The former tenant, Stifel, Nicolaus, now operates an office in downtown Rochester.
Pensco, a financial investment firm, purchased the 13-year-old building from Helen Properties Co. of Rochester. Helen Properties bought it for $715,000 in 2003.
It's unclear what Pensco plans to do with the Rochester building. Calls to the corporate office for comment were not returned.
Chatter in the Med City business community is that a media firm is seriously looking at the site. However, there's no firm answer either way to confirm or dispel that rumor, so stayed tuned to find out what happens next.