A Rochester retail complex that houses a pizza restaurant was sold for $2.2 million earlier this month as a Kasson real estate investor bought into Med City’s Northeast quadrant.
Suites 106 and 107 of the strip center at 3456 E. Circle Drive NE in front of the still-closed CMX Chateau movie theater was purchased by MacSyd LLC, of Kasson, on Aug. 12 and Aug. 14, as the deal involved two sellers that each concluded their portion on different days. That’s the center anchored by BB’s Pizzeria.
MacSyd, which lists Joel R. Alberts, of Mantorville, as its agent, just sold a Northwest Rochester building for $2.3 million in July. MacSyd lists a commercial building at 100 9th St. SE in Kasson as its headquarters. That’s also the same address for Alberts’ A&A Electric & Underground Construction Inc.
According to state records, MacSyd paid a down payment of $444,000.
The sellers of the property included Rochester developer Gus Chafoulias and GAC & M Properties LLC. Chafoulias and Gary Mattison developed the center, which was built in 2004.
Olmsted County estimated the total market value for the two parcels at $1.95 million.
I reported in June that Arrow Ace Hardware was dropping Ace and switching to the True Value brand.
A recent building permit submitted by Burggraf's Ace Hardware, which has a number of Minnesota stores, seems to be a sign that Ace is on its way back to Med City.
There are few details on this yet, but the permit looks to be setting up Burggraf’s in the Barlow Plaza shopping center, along Civic Center Drive Northwest.
Jeff Kiger tracks business action in Rochester and southeastern Minnesota every day in "Heard on the Street." Send tips to jkiger@postbulletin.com or via Twitter to @whereskiger. You can call him at 507-285-7798.
"sold" - Google News
August 24, 2020 at 07:43AM
https://ift.tt/3lcQgkY
Northeast retail property sold for $2.2 million - PostBulletin.com
"sold" - Google News
https://ift.tt/3d9iyrC
https://ift.tt/3b37xGF
Bagikan Berita Ini
0 Response to "Northeast retail property sold for $2.2 million - PostBulletin.com"
Post a Comment