The Affiliated Grouphas a new landlord following the $1.6 million sale of their leased office complex by the Rochester International Airport.
West Quad Capital LLCbought the 12,000-square-foot building at 7381 Airport View Dr. S.W. from LNI Airport LLCon Aug. 29. Merl Groteboerof Re/Max Resultshandled the deal.
West Capital is owned by a Minneapolis family, who purchased the Rochester building as an investment. LNI Airport is one of the companies that long-time real estate investor Les Nelsonof Clear Lake, Iowa uses to acquire properties.
The Affiliated Group, which moved its 100 employees into the office complex in July, has a long-term lease on the building. Affiliated is co-owned by Mark Neeband P aul Skovbroten.
The 91-year-old debt collection company moved from the six-story building at 3055 41st St. N.W. that is part of what many call "The IBM White Buildings,"though IBM no longer has any personnel in them.
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The Rochester company moved to the 3055 building in 2006, when it sold its former downtown office. That downtown location was later demolished to make way for the 318 Commonsstudent housing and University of Minnesota Rochestereducational complex. — Jeff Kiger
