SUBSCRIBE NOW Just 99¢ for your first month

ADVERTISEMENT

ADVERTISEMENT

Empty Med City store sold for $4.39 million as home decor chain renovates it

Rochester AH Ventures LLLP of Mendota Heights, Minn., bought the former south ShopKo store at 2820 US Highway 63 for $4.39 million on Aug. 2. This real estate deal comes as the building is undergoing a $2.36 million renovation for a new tenant, At Home - the Home Decor Superstore

20210607_104345.jpg
A new building permit lists At Home - the Home Decor Superstore as the driving force behind a $2.36 million project to renovate the former south ShopKo store at 2820 US Highway 63. That store, along with ShopKo’s north Rochester location, closed in 2019. (Jeff Kiger/jkiger@postbulletin.com)
We are part of The Trust Project.

A long-empty Med City retail space was recently purchased for $4.39 million as it undergoes renovation to house a new home decor store.

Rochester AH Ventures LLLP of Mendota Heights, Minn., bought the former south ShopKo store at 2820 US Highway 63 on Aug. 2. Rochester AH, which paid $48.7 per square foot, made a $1 million down payment on the three parcels, which includes the 90,000-square-foot building.

Shopko, under the name of 2820 Highway 63 South LLC, sold the 39-year-old property near Menards South.

ALSO READ: Byron construction firm purchases its headquarters for $1.2 million

The Wisconsin-based Shopko closed its two Rochester stores in 2019 . The building has mostly been empty since then. In 2020, seasonal retailer Spirit Halloween leased part of the store for a few months.

ADVERTISEMENT

Olmsted County has estimated the total market value of the building and land at $3.12 million for 2021-2022.

This real estate deal comes as the building is undergoing a $2.36 million renovation for a new tenant, At Home - the Home Decor Superstore.

The Plano, Texas-based At Home confirmed its plans for the Med City location this week.

"The Rochester store is scheduled to open in February of 2022. At Home looks for locations in high-traffic retail nodes with great access and in close proximity to its core customers and other best in class retailers," wrote Carey Marin of At Home. "This location has all of those components and we are looking forward to being in the Rochester community."

At Home, which has Minnesota stores in Blaine and Burnsville, is already revamping a former Wal-Mart store in St. Paul to serve as a new location.

The Texas company is in growth mode. In July, it opened three stores in Princeton, NJ, Abingdon, Md., and Temecula, Calif. It currently has 226 stores in 40 states.

EMBED: Jeff Pieters 'Sunrise Rochester' newsletter signup

ADVERTISEMENT

What to read next
The current real estate market in Rochester and across Southeast Minnesota is seeing record high numbers for median sales prices and the lowest amount of days on the market.
Columnist Dave Conrad says getting the whole team involved brings forth questions that no one person can think up all alone.
Members Only
Pavitra Kumar is preparing to open Nana Gogo Toybrary to offer parents of children 5 and younger a chance to play with and take home toys without needing to buy them. She hopes to open the member service in northwest Rochester by late summer.
Columnist Dean Swanson says even with limited human capital, small businesses can give back to their communities in big ways.