News Business Sports Entertainment Life Obituaries Opinion
Jobs Homes Cars Classifieds Shopping
Local Bloggers Cheap Tech Eco-Confessions Faceoff Furst Draft Heard on the Street Med City Movie Guy Pulse on Health Political Party

Search PB Blogs

Loading

Categories

1467 posts categorized "Real estate news"

December 15, 2014

Longtime used book store sells to new owner

The cover and title will remain the same, but the "author" of a local used book shop is changing in the start of 2015.

Erik Olson is taking over the 34-year-old Paperback Book Palace from longtime owner Karen Meyer, who is retiring. The shop is in the Cedarwood Plaza, 4106 18th Ave. N.W.

Store"I see nothing but potential," said Olson, who has been a customer of the shop since it opened in 1980.

While he intends to expand the shop's online presence, Olson has no big changes planned for the business. The store exchanges used paperbacks for in-store credits of 21 percent of the book's original price. Credit slips are good for a year. Those books then go on the shelves priced at 53 percent of the original price.

"She has a very loyal customer base," he said. "This time of year, we're getting a lot of snowbirds coming in to stock up on books for the winter."

Olson says the Paperback Book Palace has about 25,000 books on its shelves in the 800-square-foot shop.

"It's a pretty cozy environment," he said.

Meyer's two part-time employees are staying on with the store. The main change for customers will be that Olson will replace Meyer as the primary face of the store.

He notes that though it has moved three times since opening, the Paperback Book Palace has long been a mainstay of the Rochester business scene.

"With all of the closings lately, I think it's nice to see something stick around," Olson said.

December 09, 2014

Work on 2nd Aldi store really rolling along

Workers braved the chilly weather today to start putting up the big sign for the new Aldi grocery in northwest Rochester.

09122014aldistoreThe 17,000-square-foot store has went up quickly by McDonalds and Costco.

Aldi officials from their Faribault division have previously said they expect to open by April. That estimate was calculated on breaking ground by the end of 2014.

I'd say work is running quite a bit ahead of that schedule.

Aldi is also renovating its exisiting Rochester store at the Crossroads Shopping Center.

December 08, 2014

Ex-Hardee's/Indian eatery flattened

The former Hardee's/Indian restaurant at 7 12 St. S 08122014exhardees2.E., that's at Rochester's corner of U.S. 14 and South U.S. 63, is being scraped away today.

No sure yet what the plans, if any, are for the site.

That 31-year-old business was where one of Rochester's Hardee's fast food places operated. In Dec. 2001, that restaurant and two more in Rochester plus one in Stewartville abruptly closed their doors.

The franchise owner went bankrupt in 2000 and DORO InHardeesc. of Eau Claire, Wis. was named as reciever. Eventually, they had to close the doors.

It was later used as Natraj's India Kitchen/ C08122014exhardees1uisine of India for a few years.

It has sat empty and moldered for quite a while since the Indian eatery moved out.

Now the site is cleared for a new future, whatever that may be.

Hopefully, that will include better access.

December 03, 2014

Paine Furniture building sold for $1.7 million

New local owners hope to breathe new life into a 129-year-old building in downtown Rochester.

Get_photoOn Nov. 20, local developers Grant Michelitz and Hal Henderson purchased the long-empty former Paine Furniture store site at 313 S. Broadway as well as the 309 S. Broadway building now occupied by Big Brad's on Broadway. The pair acquired the property from Cedric Paine under a Contract for Deed deal for $1.7 million. Michelitz said negotiations for the sale have been ongoing since the Paine Furniture store closed in 2006.

While they plan to upgrade and restore the property, Michelitz says no deals for new tenants have been signed yet.

"The word leaked out pretty quick. We have got several meetings with prospective tenants coming up here in the next week or so," he said. "We're already invested in that block. We like the direction that it is going in."

The business partners also own the nine-story 318 Commons complex used by the University of Minnesota for student housing and classes. It's behind the Paine site facing First Avenue. Henderson, the principal in the Rochester office of HGA Architects and Engineers, also owns the adjacent Press Coffee & Tea Lounge at 315 S. Broadway and the Canvas & Chardonnay building at 317 S. Broadway.

Michelitz owns the 220 and 222 buildings across Broadway from the Paine site. They both have been renovated in a classic style similar to what is expected to happen at the Paine building.

If the weather allows yet this year, they hope to soon replace the second-story windows with double hung ones that better match the original design of the building, said Michelitz. They also expect to add an elevator and stairway tower on the alley side of the building to make the second story accessible.

Built in 1885, the 313 building housed the Paine Furniture Co. for 104 years from 1902 to 2006. In 1927, the Paines expanded into the 309 building, which had been home to the Klee grocery store and the Stedman bakery prior to that.

This sale is the latest in a long string of business changes and real-estate sales in Rochester's downtown.

Michaels restaurant, Barnes & Noble bookstore and Sontes all have announced they will close at the end of this month, and Hanny's Men's Wear is closing its street-level store.

Michelitz declined to speculate on the future of the area, but seemed optimistic.

"It is really fluid right now. I think we all hope for smart growth," he said.

December 01, 2014

Ramada = Kahler Apache

A 37-year-old Rochester hotel is trading a national brand for a local one.

The Ramada Hotel & Conference Center, owned by Dan and Terri Penz, of Rochester, officially became the Kahler Apache on Friday. The 149-room hotel is at 1517 16th St. S.W.

Neither of the Penzes were available for comment on Sunday.

01122014ramadakahlersignWhile the southwest hotel now shares a name with four downtown hotels, Kahler Hospitality Group Marketing Director Cherylanne Thomas said it is not financially linked to the other hotels, and KHG is not licensing the name. KHG, which is led locally by businessman Javon Bea, owns the Kahler Grand Hotel, the Kahler Inn & Suites, the Marriott Rochester, the Residence Inn and the Textile Care Services industrial laundry.

"We're just managing this for Dan Penz. We're just consultants," she said. "We just lent him our name to his property because he chose to de-flag it as a Ramada. We're saving him on the franchise fee, which is savings he can pass on to his guests."

KHG and the Penzes signed a contractlast summer that turned the management of the hotel over to the Kahler hotel team. In a similar relationship, KHG hired Colorado-based Richfield Hospitality to manage the Kahler hotels in 2013. Thomas said because KHG doesn't have ownership in the Kahler Apache, Richfield does not have any involvement that hotel.

This name change for the former Ramada will have no effect on the hotel's about 60 employees, said Thomas.

"They are still under an employment contract with Dan Penz. That has nothing to do with us," she said.

01122014kahlerapchesignA longtime Kahler employee, Chase Albrecht was recently named as general manager of the hotel.

"He (Albrecht) now is an employee of Dan Penz," Thomas said. "The previous GM had left on his own."

The Penzes originally purchased the hotel when it was under the Best Western brand in 2002. It became a Ramada franchise in 2004. The hotel originally was built by well-known developer George Baihly in 1977, and it opened as a Midway Motor Lodge. This is the first time the hotel will not have a national brand name over the entrance.

Driven by loyal return visitors coming for Mayo Clinic, Rochester has long been a stronghold for independent hotels without a national brand. While the Kahler name was franchised nationally in the past, Rochester has always been its primary base of operations. Other local independents include the Fiksdal Hotel and the adjacent Aspen Suites.


Local developer Ed Pompeian also has found success with his two Brentwood hotels.

Independent hotels struggled for many years nationally as the big chains established online reservations and rewards program. However, that is changing, said industry expert Smith Travel Research Inc. STR data shows occupancy and revenue at independent hotels growing quickly this year. Analysts point to local market knowledge and online review sites, such as Tripadvisor.com as keeping independents competitive with big chains like Marriott and Hilton.

Hotels, always important in Rochester, are growing quickly as part of the new Destination Medical Center economy. Almost 400 new rooms to be added in 2015 to the current 5,443 rooms.
Brad Jones, executive director of the city's Convention and Visitors Bureau, expects Rochester will pass the 6,000 room milestone in 2017.

November 24, 2014

Bandel Road Business Center sold for $1.6 million

A commercial center on Rochester's Bandel Road recently sold for almost $1.6 million as an investment for the future.

Vance Prigge, majority owner and president of Atlas Insurance Brokers, bought the Bandel Road Business Center at 5721 Bandel Road N.W. from local architect David Kane. Its current tenants are Kelly Services and Thrivent Financial. There's about 2,000 square feet still available for another tenant.

64585318ee614fa1aaade37b6bf6b76cPrigge describes the purchase as an investment with an eye to possibly use the building as a home for Atlas Insurance in the future. However, he has no immediate plans to make any moves or change anything about the building. He bought the property through his corporation, Centurion Blue Holding, LLC.

Commercial Realtor Scott Hoss handled the purchase for Rochester's Paramark Real Estate Services. Gary O’ Conner from Security State Bank of Wanamingo handled the financing.

The center was built by Rochester developer Jeff Brown in 2007.

November 18, 2014

In praise of shoes, Hawley opens Luya Shoes in Zumbrota

Connie Hawley really, really loves shoes and sees them as art.

She has now brought that vision to life on Zumbrota's Main Street in her new store, Luya Shoes and Other Fine Things. The 4,000-square-foot store carries footwear of all kinds for women, men and young children.

10305598_10154867691090571_6430566947257334096_n"Shoes are very sculptural. Even if you aren't wearing it, you can see it in a box or in a closet and it is beautiful. Shoes make people happy," Hawley said.

Since these "sculptures" are ones that people wear, she says it's equally important for them to be as comfortable and durable as they are attractive.

"I've tried to find brands and styles you can't find anywhere else in the area," Hawley said.

10670270_867058883338632_8450038742804535500_nShe has hand-made moccasins from Spring Grove and popular brands that include OTBT, Rieker, Naot, Corky's Footwear and Corral boots. Luya also carries jewelry, belts and purses, including Baggallini bags. For men, Hawley also has conditioners for beards as well as related gift baskets and accessories.

Adding to the art gallery feel of her store, she displays her products on cabinets and shelves refinished by Jim Hahler of Hahler Restoration and Design. She also has artwork by three local artists for sale on the walls.

The one big question remaining is: What's the story behind the name Luya?

Hawley explained that she has talked about opening a shoe store for many years. Part of that dream also was playing on her last name of Hawley and calling the shop something like HawleyLuya, pronounced like hallelujah.

"I realized it was kind of crazy and a bit too long and too hard to say," she said. "But I still liked Luya, so that's what I went with."

Christian Book and Gift to close after 57 years

After 57 years on North Broadway, the family-owned Christian Book and Gift Shop announced Monday it will close its doors for good on Dec. 31.

264155_10150248194599430_474142_nIn a note to customers, owner/manager Karen Mulholland McKenzie and co-manager Judy Mulholland stated it was a heart-breaking decision to close the store at 815 N. Broadway.

Christian Book and Gift was launched by Karen's parents, Dennis and Elaine Mulholland, in 1957, when they purchased the Home Book Shop from Harry Boyer. They ran the store for many years out of the family’s nearby home on North Broadway, until expanding into the commercial store and growing it into one of the largest stores of its kind in the region.

“We’d ... like to express our deep sense of grief over no longer being able to provide this service to our customers and our community," they wrote. "There are myriad challenges in running a Christian retail business and independent bookstore — challenges that require youth and energy to stay in the game."

As the store has struggled, the Mulhollands have been talking to several Christian retailer chains looking for a buyer, but they were unable line up anyone to take over the store.

The store temporarily closed on Monday to prepare for a "Going Out of Business" sale and will re-open with marked down products on Thursday.

In their statement, the family voiced their appreciation for their "loyal customers" and their 11 employees, "many of whom have been with the bookstore through several building expansions and countless story times, summer tent sales and events with local and national Christian authors."

This announcement follows on the heels on the recent sale of the store, its parking lot and four houses to Samaritan Bethany. The senior living facility is just across Eighth Street from the book store, and its employee parking lot is adjacent to it. Samaritan Bethany closed on the purchase on Oct. 31.

"We have no current plans for the property," said Sue Knutson of Samaritan Bethany. "When we expanded the lot a while back, we let everyone in the neighborhood know that we'd be interested in buying property in the area. The siblings recently decided they were ready to sell."

Knutson said Samaritan Bethany had intended to lease the 7,500-square-foot store to the family, so they could keep the business running. Now that it's closing, she said they will look for a retailer to take over the space.

The Mulhollands also hope another business will step into the space.

"Our prayer is that a business person with a heart for this type of store will come to the area and open a great shop that will meet the changing needs in this community,” they wrote in their announcement.

November 17, 2014

Buckeye Liquor to stay in downtown Rochester

Much like peanut butter and chocolate getting together, a downtown Rochester liquor store is moving in next to a pizza place in early 2015.

11172014buckeyeliquorRobert Satterwhite, who owns Buckeye Liquor with his wife Diane Satterwhite, plans to scoot the store a few dozen yards from its spot on the corner of Third Avenue Southeast and Fourth Street to the Domino's Pizza building at 438 Third Ave. S.E.

The shift is expected to happen in February or March 2015.

"We're pretty excited to be moving next to Domino's. Who doesn't like a beer or a nice wine with pizza?", said Satterwhite.

The coming development of a $15 million, 110-unit apartment complex on that corner is spurring the move of the 49-year-old liquor store. Stencil Homes of Sioux Falls, S.D., has purchased three buildings — Buckeye Liquor, the empty Flowers By Jerry shop and the 3rd Avenue Pet Hospital — on Third Avenue. The Satterwhites now lease their corner building from developer Nate Stencil and his partner, Sean A. Kaufhold.

While there is not a deadline for Buckeye to move, it's clear that the current building will be demolished to make way for the coming project.

"They are not pushing out us or anything. We just wanted to make sure to secure another space in downtown as soon as we could," he s11172014dominoson3rdaid.

Satterwhite and two employees will have more room once they move in next to Domino's. The new 1,800-square-foot space is about 500 feet larger than the original Buckeye store, which Stanley Mohn, built in 1965. An international grocer was the last tenant next to Domino's.

Marty Gritz, who owns Domino's as well as the building, renovated it in 2013. He re-divided the building into two equal parts to give his dough makers an additional 600 square feet

The good news for Buckeye is that Domino's location is often the busiest of  the 120 Domino's franchises in the Midwest region.

November 08, 2014

The fall of the Flamingo

It may be almost winter with snow in the forecast, but it is definitely "fall" time at Rochester's former Flamingo Bingo/Circus World/ Skateland building

11082014flamingodemo1Demo crews have been chewing away at the empty building at 2828 U.S. 52 North in the past week or two. With about half of the 42-year-old building already gone, it's definitely "game over" for the former entertaonment parlor.

The Twin Cities-based Luther Automotive Group owns the building and it launched demolition plans in October, though the company has no immediate plans for the property.

"I'm simply taking it down because I just don't want to carry the building through the winter. The roof is compromised," said Linda McGinty, Luther's director of real estate and development, last month. "We just don't have a use for it. When we do develop this site, that was a building that we weren't planning on reusing."

The car dealer bought the 42-year-old building for $950,000 back on Jan. 17. Luther also owns Park Place Motors, Rochester's BMW dealership. Since Park Place is nearby, Luther theoretically could use the ex-bingo property to expand Park Place or possibly to introduce a new dealership into the market.

Flamingo Bingo, which raises money for the Rochester Senior Center, moved out of the 2828 building in April and into the Elks Lodge 1091 at 1652 U.S. 52 North in the Hillcrest Shopping Center.

It had operated in that building since 2007. Prior to the creation of Flamingo Bingo, it was the home of Circus World Bingo, which raised funds for Rochester's Catholic schools.