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1382 posts categorized "Retail news"

January 25, 2016

Popular clothing chain to open large Rochester store

A trendy Swedish clothing retailer plans to open its first southeastern Minnesota store in Rochester's Apache Mall this fall.

Image-007H&M, one of the world’s largest fashion retailers, has signed a lease for 22,000-square-foot store in the mall. H&M carries "fashion forward" clothing and accessories for women and men. The Apache Mall location will also carry H&M’s children’s collection, for newborns up to teens.

This will be the Stockholm, Sweden-based H&M's ninth store in the state. It has a location in the Mall of America as well as a two-story store in Minneapolis' Calhoun Squareshopping center in Uptown. The company has pegged Minnesota as "a quickly growing market."

The Apache Mall leadership is pleased with the addition to its lineup and is making adjustments to accommodate them.

“We are excited to have H&M opening at Apache Mall and to be able to stay true to our mission of providing stellar retailers for our customers,” said General Manager Kim Bradley

The new H&M store will have access to the mall from both the Scheels and JCPenney mall corridors. Stores relocating to accommodate the new H&M include: Northwoods Candy Emporium, Caribou Coffee, Payless ShoeSource and Aeropostale.

January 19, 2016

Rochester retail complex sells for $14.5 million

The retail center anchored by Kohl's and Sports Authority in southeast Rochester sold for $14.5 million on Friday.

36ffb495a8b44937a46acc506881eb46An Austin, Texas, firm, EREP Broadway Commons, bought it from Inland Private Capital Program, of Oak Brook, Ill. The 131,931-square-foot center sits at 30 25th St. SE in the Broadway Commons development between Walmart and Menards.

The 15-year-old complex was appraised at $15 million, according to state documents. Inland originally acquired the property in 2002 for $16 million. Olmsted County estimated its 2016 market value at $11.23 million.

It was built by Wisconsin-based Continental Properties in 2001.

The center is fully leased with tenants that include Kohl's, Sports Authority, Michaels, Designer Shoe Warehouse and Famous Footwear.

Biz buzz

ServeAttachmentWhile the Broadway Commons sale is the largest Rochester deal so far in 2016, it wasn't the first one at more than $1 million.

That honor goes to the sale of the building that houses a Perkins Restaurant at 1818 South Broadway.

Perk 18 LLC, of Rochester, bought the 13-year-old property for $1.9 million on Jan. 4. Olmsted County estimated its 2016 market value at $1.2 million.

No individual names were listed on the Olmsted County documents. However, Perk 18 LLC receives its tax bills at 123 Carlton St. SW, which also is the headquarters of Elcor Construction. Elcor is owned by Rochester developer, business owner and real estate investor Dan Penz.

Perk 18 bought it from JLC Properties of Rochester. The seller is based at 1807 Seventh St. NW and it lists Dave Hanson as its registered agent in state documents.

JLC originally purchased the 1818 South Broadway property for $495,000 in 2002, before the building was constructed.

 

December 24, 2015

Downtown art gallery officially closed

Downtown Rochester lost some color today when  Southeastern Minnesota Visual Artists (SEMVA) closed up their gallery.

12242015semvaclosingsignEarlier this month, SEMVA President Andy Westreich sent messages to the cooperative's 84 artists saying that the gallery could no longer afford its high-profile spot at 16 First St. SW on Rochester's Peace Plaza.

"It is with great sadness that I have to tell you that we were unable to negotiate a reasonable lease renewal, and the board of directors has voted to close the SEMVA Gallery after 23 years in business," he wrote. "This was not an easy decision to come by, and many factors played a role in our final vote."

The letter cited a number of factors in the decision, including a 40 percent increase in rent and a decrease in traffic following the closure of popular downtown businesses like the Barnes and Noble Bookstore and Michaels restaurant. SEMVA sales are down 13 percent compared to 2014.

Beyond the rent increase, SEMVA leaders also mentioned that almost five months of negotiations with landlord George Psomas were held up by his plan to change the renewal clause in the lease from five years to one year.

Today was the gallery's last day. Artists were packing up their works.

However, the cooperative leaders are confident that they will be able to find a new home of the gallery in the near future.

 

November 10, 2015

Get ready to Primp

There's a lot of activity on the high-profile corner of 100 First Ave. SW in downtown Rochester.

The shiny signs are up, clothes are going up on racks and the new doors will open soon.

09112015primpPrimp, a popular Twin Cities boutique, is opening its first Med City store on Friday.

Owners Michele Henry and Wesley Uthus announced the opening on Monday.

"We're excited to announce our 7th location, in Rochester, MN, will be open this FRIDAY!… Can't wait to meet you all!," they exclaimed (hence the exclamation marks) on their Facebook page.

Primp carries a full array of women's apparel, from fancy dresses to denim and sweaters. Primp also stocks plenty of accessories, like handbags, jewelry and scarves.

It's tagline is 'Cheap, chic boutique.' Everything is less than $100. Most are items are less than $50.

The news of Primp coming to town broke in early October. It's stepping into the storefront which was the long-time home of the Rochester landmark, O&B Shoes. O&B marched less than a block away to 19 First Ave. SW in August.

"We were looking at a lot of places. But when this space came, we dropped all of the other locations," Henry said at the time. "There is such a great energy in downtown Rochester."

Darci Fenske of Paramark Real Estate Services brokered the deal to bring the brand into the Rochester market.

November 02, 2015

$56 million deal in 'one of our largest markets'

A North Dakota real-estate firm purchased Rochester's Grandeville at Cascade Lake for $56 million today.

Investors Real Estate Trust said this morning that it officially wrapped up the purchase of the 276-unit multifamily community. It announced in August that a purchase agreement for the 8-year-old property had been signed with LeCesse Development Corp. of Florida.

Nav-mobile-website-cascade-lake-rochester-mn-apartments-rent-apt-best_r1_c1Grandville is now IRET's 10th housing property in Rochester.

"We are excited to add GrandeVille to IRET's Rochester portfolio. Its convenient location and substantial amenities enhance the choices we offer to tenants and solidify our presence in Rochester," stated IRET's Vice President of Investments Matt Volpano in a press release this morning.

IRET long has been an active investor in Rochester. It now owns more than 1,300 housing units in 10 properties, including Quarry Ridge, Olympik Village and Sunset Trail.

"Rochester is one of our largest markets," said Volpano previously. "From our standpoint, it continues our strategy. DMC just improves upon an already strong market."

6a00d83451cc8269e201b8d1642d62970c-800wiIRET even is looking into building its own development in Rochester, on land it owns near 41st Street Northwest and West Circle Drive.

Volpano says plans have been drawn up for a potential project. The company is investigating whether it makes financial sense to move forward with it.

Today's deal is the largest real estate sale in Rochester for 2015. It tops the previous largest sale of the year, which also involved IRET.

IRET sold Maplewood Square shopping center in northwest Rochester for $15 million. The center, anchored by Best Buy, Fareway Foods and Ashley Furniture, was purchased by SGO MN Maplewood LLC, of San Mateo, Calif. The sale was part of a larger deal that included 15 IRET commercial properties, which sold for a total of $79 million.

The North Dakota firm previously announced that it is getting out of shopping centers to focus solely on housing properties.

October 26, 2015

How about owning a Dunkin' Donuts shop?

Want to own a Dunkin' Donuts shop in Rochester?

The Massachusetts doughnut maker is making a major push into Minnesota with 24 new locations planned in the Twin Cities area. But its plans don't end at the metro area's boundaries.

Dunkin' is also looking for a new franchisee to open about five more shops in Rochester.

06232014dunkindonutsRochester Retail Services, a division of the Kahler Hospitality Services hotel group, opened a shop here in June 2014 at 15 First Ave. SW in the Kahler Grand Hotel complex in the heart of downtown. It was the first one in Minnesota since 2005. Dunkin' said then that Rochester Retail Services would be opening five more shops in the next few years.

Dunkin' Donuts Senior Director of Franchising Patrick Cunningham says that plan has now changed.

"Rochester Retail Services, the franchisee of record, will continue to own and operate the existing restaurant in the Kahler. However, they will not develop more Dunkin' stores as we previously reported," he said on Friday. "At this point, (Rochester) is open for more entrepreneurs. We're seeking franchisee candidates for Rochester, Mankato and southern Minnesota." 

Cunningham said he couldn't comment on how sales have been for the Kahler's Dunkin' shop, since it opened last year with 40 employees.

Patrick Short, Kahler Hospitality's managing director of operations, said the Rochester shop is doing well.

"Dunkin sales are steady with visitors to downtown Rochester and to Mayo employees. There are currently 18 employees, but I understand that they are looking for more counter help in the store just like many other businesses in Rochester today," he wrote in response to questions last week.

October 20, 2015

Google brings its delivery service to Rochester

Searching for next day delivery service in Rochester?

The world's largest search engine might be the answer.

Google Express launched service in the Rochester area this morning, which is its first foray in Minnesota.

"We want to make users lives easier and help out merchants reach more customers," said Google Express' General Manager Brian Elliot. "We have crazy busy lives these days. This is about giving you back some time."

Google-ExpressMountain View, Calif.-based search engine company Google launched Google Express two years ago to expand its commerce arm, offering an alternative to Amazon Prime.

Elliot's example is parents who have a kid's birthday party and are signed up to provide snacks for the soccer teams. Elliott says at long as the orders are made by 5 p.m. the day before, Google Express can deliver the next day.

However, don't expect to see any delivery trucks pull up with "Google Express" on the side. Unlike regional distribution centers used by Amazon or UPS, Google Express works directly with retailers and contracts with local courier services.

It has deals with 18 merchants like Whole Foods, Costco, Staples,Toys R Us, Barnes & Noble, PetSmart, Walgreens and more. The retailers put their available products out on Google Express' online catalog. Consumers chose what they want. The store packages it up and a courier delivers it.

Google Express, which has been running this new service in areas like Chicago and San Francisco, offers an annual membership for $95. Members get free overnight shipping on most items, as long they meet the store's minimum order requirements of $15. There's $3 service fee for orders that don't meet the minimum levels.

For non-members, delivery costs start at $4.99 per store for eligible orders. The fee for orders under the minimum sizes is $3, the same as members.

While Google Express is introducing this service in the Rochester area, it is not covering Minneapolis or St. Paul yet.

"We got up to Rochester, but to the Twin Cities. We'd love to get there. Over time, I'd expect we will," said Elliot. "It's a sort of a one-step at a time project."

He explained that Rochester is closer to Google Express' Midwest hub of Chicago and the retailers here have the capacity to offer the service.

Of course, the big target here for Google is its tech rival, Amazon.

During a recent European trip, former Google CEO Eric Schmidt, outlined the rivalry.

“Many people think our main competition is Bing or Yahoo. But, really, our biggest search competitor is Amazon," he said. "People don’t think of Amazon as search, but if you are looking for something to buy, you are more often than not looking for it on Amazon.”

There is a lot at stake in the growing delivery market. It is currently a  $10.9 billion industry, which is expected to grow by of 9.6 percent by 2019. The U.S. market for same day delivery, which Google Express offers in San Francisco and Chicago, is predicted to swell to $4.03 billion by 2018.

October 16, 2015

Rochester's ProBuild to pack up on Monday

A large building supplier in Rochester announced this week it is closing its doors on Monday.

The manager of ProBuild sent out letters to customers on Thursday saying the large construction operation along U.S. 14 West at 2953 Wilder Road N.W. is closing "effective Oct. 19."

No one at ProBuild or at its corporate office would confirm the closing on Thursday. The operation has an estimated 8 to 10 employees.

6a00d83451cc8269e2010535cefa84970b-320wiThe letter was sent by Dave Mills, ProBuild's area manager based in the Twin Cities.

Mills wrote that ProBuild made the decision to close "After careful review of the market conditions and our operational footprint in Rochester …"

The letter said ProBuild's sites in Mankato, Lakeville and Waseca will take over coverage of the Rochester market. ProBuild has about 30 locations in Minnesota.

The move comes just two months after Colorado-based ProBuild was acquired by rival Builders FirstSource for $1.6 billion. Builders FirstSource, headquartered in Dallas, said the combined company is expected to have annual revenues of about $6.1 billion.

Before it became part of a billion dollar deal, the Rochester construction supplier was a United Building Center. UBC was started in 1855 in Winona by three brothers,  William, Matthew and John Laird.

ProBuild acquired all of the UBC locations in 2006, and the ProBuild name went up on the Rochester site in 2008.

In July 2014, ProBuild closed its Austin lumber yard. It had eight on staff when it closed.

 

October 09, 2015

West Circle Drive Hy-vee by the numbers

 

Some numbers to know about Rochester's fourth Hy-vee grocery storeopening at 4211 W. Circle Drive NW.

09102015hyvee6• Oct. 20 - Opening date.
• 550 - Total number of employees.

• 125 - Part-time employees still to be hired.

• Oct. 12 - the next employee hiring event from 4 p.m. to 6 p.m.

09102015hyvee3
• 94,0000-square-feet - the size of the largest of Rochester's four stores.


• 67,000 - the number of product items on the shelves.

• 8,500 - the number of products in the Health Market section, more than any other Hy-vee.

• 2 - Windmills in parking lot that generate energy for the electric car charger stations.

• More than 150 - Number of cheeses in the Charcuterie (Shar-coot-er-re) department.

• $100 or more - Minimum online grocery order Hy-vee will deliver to your home for free. Delivery charges will apply to smaller orders.

Cheap chic coming to the heart of the Med City

Cheap chic is coming to the heart of downtown Rochester.

Primp, a popular boutique with six Twin Cities stores, is slated to open a Rochester location in November, before the holidays.

09102015primpsiteCo-owner Michele Henry says the first Primp shop outside of the metro area is moving into the high-profile Peace Plaza space on the corner of 100 First Ave. SW. That's the storefront where O&B Shoes sold footwear until it moved less than a block away to 19 First Ave. SW in August.

"We were looking at a lot of places. But when this space came, we dropped all of the other locations," Henry said. "There is such a great energy in downtown Rochester."

Darci Fenske of Paramark Real Estate Services brokered the deal to bring Primp into the Rochester market

Michele Henry and Wesley Uthus launched the first Primp store just five years ago, when they were both 25-years-old. The idea was simple: to offer inexpensive, fun fashion.

"Our whole tagline is 'Cheap, chic boutique.' Everything is under $100. Most are under $50 and we put new things out every day," Henry said.

Primp carries a full array of women's apparel, from fancy dresses to denim and sweaters. Primp also stocks plenty of accessories, like handbags, jewelry and scarves.

Moving beyond the Twin Cities is a big step, but Henry and Uthus are very excited about coming to the Med City, Henry said, adding that many Primp customers, as well as employees, have been asking them to come to Rochester for a while.

Now they have a high-profile location in the center of the city. The next step is to prepare the store and hire a team of 10 fashionable employees.