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ROCHESTER — A New York City firm recently paid $2.66 million for a Med City complex that houses a mental health practice.
On Jan. 14, Unlock Real Estate Rochester LLC bought a 6,400-square-foot building at 3101 Superior Drive NW, where Associates in Psychiatry and Psychology is based. It is located behind Mayo Clinic's Superior Drive Support Center , which houses Mayo Clinic Laboratories .
The buyer made a downpayment of $319,999.
Unlock, which is related to the commercial real estate firm called Keyway, purchased the eight-year-old center from Illinois-based 3101 Superior LLC.
The seller acquired the property in 2019 from Patton Holdings LLC of Rochester. The late Dr. Bonita Patton built the complex to house her Associates in Psychiatry and Psychology clinic . She passed away in 2018.
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Prior to moving into the Superior Drive facility, APP was based in the Ironwood Square Building at 300 Third Ave. SE.
APP also has offices in Plymouth, Pequot Lakes and Faribault, Minnesota, with another expected to open soon in Minneapolis.
Olmsted County estimated the total market value of the building and land at $1.49 million for 2021-2022.
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.
