Heard on the Street: NE Rochester showroom sells for $1.3 million
An empty 32,000-square-foot former home construction showroom in northwest Rochester recently sold for $1.3 million.
Event Studio LLCof Rochester bought the uniquely designed Home Design Studiocomplex from Partnership 10of Byron. It's located at 3777 40th Ave. N.W. along West Circle Drive.
No individual names were listed on the Olmsted Countysales record. However, Event Studioreceives its tax bills at 123 Carlton St. S.W., which is also the headquarters of Elcor Construction. Elcor is owned by local developer and real estate investor Dan Penz.
Penz couldn't be reached for comment on any possible involvement.
Partnership 10, which lists Jerome Bigelowand Randy Lennonas principals on state incorporation documents, originally purchased the empty land for $425,000 in 2005. Home Design Studio was built and opened in 2006, not long before the home building market plummeted.
That was also the same time period that Rochester Market Square, another home construction mall, also opened in south Rochester. That facility recently was re-configured and re-opened as Rochester Public School's Alternative Learning Center.
When Home Design Studio opened in 2006, it had 13 local owners and 59 people on staff.
The final occupants – Home Improvement Professionals, the Olmsted County Lumber Mart and Home Design Studio Flooring and Cabinets– moved to Byron in April 2012. OCLMwas recently sold and closed, though the other businesses remain active. – Jeff Kiger
Heard something? Contact Jeff Kiger (email@example.com) or Mike Klein (mklein@postbulletin), or call the P-B newsroom at 507-285-7700.