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1396 posts categorized "Real estate news"

April 18, 2014

Downtown building sells for $771,000

Yet another building in Rochester's downtown core sold recently.

20140418_141438The 129-year-old building at 325 South Broadway was  purchased for $771,500 on May 26 by RGA of Rochester. RGA is a group of local investors that includes Paul Armon of Armon Architecture, Inc. and Peter and Paul Gerrard of La Crosse, Wis.-based Gerrard Co. 

Gerrard Co. developed the nearby multi-million dollar Metropolitan Market Place complex that houses the popular People's Food Cooperative as well as 62 apartments at First Avenue and Sixth Street Southwest in September.

20140418_141616The company is also working on a new Rochester apartment complex along 8 1/2 Avenue Northwest.

Unlike other recent downtown purchases, Armon and the Gerrards don't seem to have immediate development plans for that site. Their local offices are based in the building. Armon Architecture and Gerrard Cos. have been tenants there since May, 2012.

John Hasseler, a jewelry, goldsmith and artist, opened Broadway Jewelry and Visual Arts in the storefront retail space there in 2012. Prior to that, Cheri's Boutique was based there and Carson's Framing before that.

RGA bought the building, which was constructed in 1885, from the estate of Harold Perry. Perry purchased in 1999 for $185,000.

This is just one many downtown real estate purchases in recently months.

Bloom International Realty, based in Abu Dhabi, United Arab Emirates, bought the seven-story Associated Bank Building at 206 S. Broadway for $7 million in September.

• Local investors paid $3 million for the Riverside Building at 400 S Broadway and two other buildings along a two-block stretch of South Broadway from Fourth Street to Sixth Street last summer.

• The 63-year-old youth theater building at 12 Fourth St. S.W. was bought for $400,000 in August by AC Acquisitions LLC of Rochester, a Titan Development & Investments company.

April 17, 2014

Ex-bar will soon house memorial services

The former Mickey's Irish Saloon building is getting a very different tenant soon.

Rochester Cremation Services is re-working the former bar building at 1605 Civic Center Drive N.W.

04162014mickeysMike Johnson, who owns Rochester Cremation, hopes to be in his new site by end of the month. It's located in a high profile spot on Civic Center Drive, just west of the Hy-Vee grocery store in the Barlow Plaza.

"It's a big project," he said of transforming the saloon into a funeral home.

Funeral Director Johnson explained that his cremation business simply has outgrown its current location at 14 Sixth St. N.W. After a long search, he picked the Civic Center building as the best choice. Johnson is leasing the building, which is owned by Gary Mattison.

"We simply need to have a bigger building for memorial services. A lot of people today don't have their own church any more, so they turn to us," he said.

While there will be memorial services there, the cremation process will not take place in the Civic Center building — it will be done elsewhere.

Mickey Clark opened Mickey's Irish Saloon there in 2004. The bar, which was known for its large St. Patrick's Day party and for hosting boxing/mixed martial arts bouts, closed its doors in May 2013.

April 10, 2014

Associated Bank working on new spots for Rochester branches

Associated Bank is planning to close its branch in the Hy-Vee North grocery  and then re-open it in a future northwest Rochester location.

Associateddrawing1The Green Bay, Wis. bank announced this week that it will close the grocery store branch at 500 37th St. N.W. at the end of July. Hy-Vee customers will then be served by Associated Bank's Rochester locations on South Broadway, First Avenue Southwest and 16th Street Southwest.

The five branch employees based at the Hy-Vee branch will work at Associated's three other Rochester branches until a new northwest facility "in the West Circle Drive corridor" is completed.

While bank officials wouldn't confirm the location of the to-be-constructed bank yet, Associated has submitted very early plans to the city to build a 3,683-square-foot branch in the 19th Street/West Circle Drive commercial development anchored by Costco.

Re-locating the northwest branch is not the only Rochester move coming up for the bank.

New owners have acquired Associated Bank's downtown building at 206 South Broadway and the bank needs to move out by spring 2015. There was speculation when the site development permit was filed for the West Circle Drive branch that it might serve as the new home for the downtown branch.

Not so, says the bank's spokesman. It's actively looking for a new location that will allow it to maintain its presence downtown.

“We are finalizing plans for an exciting new Associated Bank location in the West Circle Drive Corridor and continue to review opportunities for a new downtown bank location," stated Executive Vice President David Stein in this week's announcement.

Stein also commented that, "The greater Rochester area represents an important market for Associated Bank, and we are committed to serving our customers there with expanded operations and services."

Associated Bank entered the Rochester area in 2004, when it acquired First Federal Capital Bank. First Federal was short-lived here. It picked up the holdings of the long-time Marquette Bank in 2002.

April 07, 2014

New owner buys long-time Rochester plumbing supply firm

A Fargo, N.D. company is buying Woodruff Co., a 67-year-old Rochester plumbing and utilities wholesale supply firm.

WoodruffcoDakota Supply Group and the family-owned Woodruff have a purchase agreement and the sale is expected to close on April 30, according to Dakota CEO Todd Kumm. The deal includes Woodruff's Rochester complex at 1524 Third Ave. S.E. as well its Austin and Winona locations.

Dakota is a distributor of plumbing, electrical, HVAC, refrigeration, communications, filtration and metering systems. It has locations in Minnesota, North Dakota, South Dakota, Wisconsin and Montana

Co-owner John W. Woodruff said the main reason for the sale is that he's retiring, along with his brother and co-owner James W. Woodruff. They took over the company from their father, who co-founded it.

 "It's a good opportunity," he said.

The much-larger Dakota had previously approached the Woodruffs a few years ago, but the deal didn't come together back then.

"Now it's the right time to do it,"  said John Woodruff.

Dakota Supply Group Truck WrapOn the other side of the sale, Dakota agrees that the timing is right for this change.

"We believe a lot in the potential of Rochester and what's going to happen in the future," said Dakota's Kumm."This gives us a great physical location in a community that we feel is growing and expanding."

The company already has locations in La Crosse, Wis. and St. Paul, so this acquisition will fill in the area in between. Dakota, which has about 650 employees, is very familiar with Rochester, has previously sold metering systems to the city.

WoodlogocOne concern the brothers had was to make sure the deal would be good for their more than 20 employees. DSG's reputation as a good company  made it attractive. It's also owned by its employees through a stock ownership plan.

"We think that will be a benefit for the employees," he said.

Woodruff was founded by 1946 by James F. Woodruff, John D. Flowell and Frank C. Weber. The Woodruff family has long been very active in the community with involvement with Lourdes Catholic schools, Rotary Club and the Rochester Area Chamber of Commerce.

It built and moved into its current facility on Third Avenue in April 1964.

April 03, 2014

Homewood Suites shaping up in 2nd Street

04032014homewoodsuitesCheck out Rochester's new 111-room, seven-story Homewood Suites by Hilton hotel going up on the 1300 block of Second Street Southwest.

It looks like this project must be starting to near the final few laps of the race to completion.

Rochester developer Marc Carpenter and Torgerson Properties, of Willmar, are building the extended-stay hotel brand next to their Courtyard by Marriot hotel. 6a00d83451cc8269e2016768f3c66c970b-800wi

Including the SpringHill Suites, this is the company's third hotel within in the shadow of the nearby Saint Marys Hospital.

In 2012, the project was described as completing Carpenter's vision for Second Street. Two old houses between the Courtyard hotel and McDonald's were torn down in 2010 as a preamble.

Does Mayo Clinic have plans for Shoppes on Maine?

Mayo Clinic seems to be looking to south Rochester for a future project, even though there's no official word yet.

Tom Hexum, of Maine Street Development Co. of Rochester, filed a Land Development Application on March 11 for a 22,000-square-foot "commercial building with parking" at the corner of Canal Place Southeast and Maine Avenue Southeast. That puts the building near Fat Willy's Bar and Grill and across Maine Avenue from the commercial center anchored by Lowe's.

Mayo buildingThe proposed building would be situated on two acres and have 109 parking spaces. Plans call for a half circle drive in front for loading and unloading at the building's entrance, which would be covered with an 880-square-foot canopy.

Hexum and Maine Street have been the local driving force behind development in the Shoppes on Maine area from its start. Most of their previous projects had future tenants identified before any construction began. But this new development application doesn't name any tenant.

However, Mayo Clinic enters the picture when the application was studied by city staff. The Department of Planning and Zoning and the Department of Public Works describe the building as the "proposed Mayo Clinic facility" in letters on May 14 and May 24. Those letters denied the application until a variety of site-related issues are addressed.

Despite being named by city officials, Mayo Clinic would neither confirm nor deny any specific plans in the Shoppes on Maine area.

"We are exploring options to improve our ability to improve access to community care for our employees and those who depend on us for these services," said Rebecca Eisenman, of Mayo Clinic's Communications Dept. "Future options may include expansion of facilities and services in southeast Minnesota, but no specific details are available at this time."

While the first application for this building was denied, it seems likely that Rochester design firm Yaggy Colby will be able to address the issues and get the development approved.

We'll just need to watch how it plays out and listen to what Mayo Clinic has to say about it.

April 02, 2014

North Roch. Pizza Hut getting a makeover

Rochester's Pizza Hut restaurant along U.S. 52 North is getting a full makeover.

01042014pizzahutworkThe Pizza Hut at 2001 U.S. 52 North Frontage Road currently is closed while construction crews revamp the 28-year-old brick restaurant. It sits between McDonald's and Motel 6.

San Antonio, Texas-based Muy Brands is driving the upgrade of the Pizza Hut. Muy, one of the largest Pizza Hut franchisees in the U.S., bought the restaurant in January for $986,733.

There's no official timeline for when the work will be complete, but it looks to be progressing fast enough that the restaurant could re-open by late spring or early summer. Building permits dating back to December estimate the value of the project at $168,000.

The Pizza Hut is not the only restaurant in that neighborhood with changes cooking.

Construction o01042014mcdonaldssitef a new McDonald's restaurant will soon begin by Costco, off 19th Street Northwest. Once the new restaurant is complete, the McDonald's next to Pizza Hut will shift to the new restaurant and the old store will close. Until then, it will remain open.

New Roch. Menards to open April 8

Rochester's new northside Menards store will open its doors at 6:30 a.m. April 8.

The newly completed $12 million store near the intersection of U.S. 52 and 65th Street Northwest will replace its old store at 5150 U.S. 52 North. That store is prepared to shift to close-out mode and will remain open for a while after the 65th Street store opens.

Menards also has a south Rochester store at 3000 S. Broadway.

The new 90,000-square-foot store is on 35 acres, with an additional 40 acres available for development by other businesses. Planned for years, the project wMenards-Logoas delayed while waiting for a proposed U.S. 52 interchange at 65th Street Northwest to be built. The interchange recently was constructed with funding from a portion of the local-option sales tax revenue.

“We appreciate all the loyal customers who continued to shop at Menards through the years and
look forward to opening this new store," store manager Eric Ritter said in a company announcement. "Everyone has been working really hard for weeks in preparation of opening the doors to better serve the community with all the latest, greatest home improvement products.”

The new store includes a full-service lumber yard, a garden center, appliances, pet supplies and convenience grocery items. An official grand opening for the new store will be scheduled for a later date.

Eau Claire, Wis.-based Menards operates 286 home improvement stores in 14 Midwestern states.

Once the existing Menards facility at 5150 U.S. 52 North closes, two Rochester retailers plan to upgrade the building and move their businesses into it. Jim Sather and Mark Byer, who own the Furniture Superstore Factory Outlet and America's Mattress stores, hope to move forward with that project as soon as possible.

April 01, 2014

Work on new Roch, Scheels store in high gear

The transformation and expansion of the former Sears store into a new Scheels All Sports complex at Rochester is moving at a good clip.

The first pic is from this morning. The 01042014scheelsatapachesecond one is from March 19.

Fargo, N.D.-based Scheels estimates that it will be ready to open in early April 2015. The planned 140,000-square foot store will be larger than the 120,000-square-foot Scheels in Mankato.

It's expected to employ between 120 to 180.

Sears closed in January. The development for the expanded 19032014scheelsatapachestore also includes Apache Mall adding 9,000-square-foot restaurant site on the east side of the city water tower. 

There's no word yet on what restaurant might be planned for that site.

Scheelsmap1"It will still have a fudge and coffee bar and a mini bowling alley. It will carry fashion clothing and shoes for women and men as well as athletic clothing and shoes for men and women. That's all in addition to our the entire hard line of sporting goods," said Scheels' Jason Loney.

This will be the sporting goods chain's 25th store and its fifth in Minnesota.

March 31, 2014

Lots of construction cooking at Big Blue

Lots of construction is in the works on IBM's sprawling Rochester campus.

IBM buildinglogoSome final work still is underway in buildings 333 and 002 for Charter Communications. The cable-television provider is leasing those buildings to house an estimated $3.5 million expansion of Charter Business, its business-to-business division.

Charter says the expansion will add more than 140 jobs to its Rochester operations. The company is planning a ribbon-cutting ceremony for April 15 in Building 002 on the IBM campus.

While neither Charter nor IBM are discussing it yet, a permit also has been submitted to the city planning department for interior demolition of IBM's Building 005. Charter-business-logo

The permit describes the demolition as preparing the building for "Future Charter Business."  The value of this project is listed as $3.25 million.

Without information from Charter or IBM, it's unclear what this permit signifies. However, Building 005 is connected to Building 002, so it's possible Charter needs more space for its expansion and it possibly is leasing a third building from IBM.

HgstLook for more details about this project in the near future.

Meanwhile, HGST has construction of its own cooking in one of the buildings it leases from IBM. Western Digital's HGST, formerly owned by Hitachi, is working on a Crossfit workout center and locker room. That project is valued at $325,900.

Big Blue also has some construction in the works on its Rochester campus.

A permit has been filed for an "acoustic chamber upgrade" valued at $195,000 in IBM's Building 020.