Local buyer pays $1 million for a Med City office center
Keith Collins, under the corporate name of B&V Holdings LLC, made a $1 million purchase of the 16-year-old complex at 3625 10th Lane NW, at the entrance to a residential cul-de sac just off 37th Street Northwest.
ROCHESTER — A Med City hair salon turned office building has a new owner thanks to a recent $1 million deal.
Keith Collins, under the corporate name of B&V Holdings LLC, purchased the 16-year-old complex at 3625 10th Lane NW, at the entrance to a residential cul-de sac just off 37th Street Northwest. He made a down payment of $100,000 at the closing of the contract for deed purchase on Nov. 14, 2022, according to state records.
Collins is the District 54 manager for Farmers Insurance Southern Minnesota. Acquiring the 4,300-square-foot building opens the door to move his team’s office from 2766 Commerce Drive NW to the 10th Lane center.
“We’ll occupy about 60-to-70% of the building,” he said. Collins has a team of five who work with insurance offices throughout the region.
Olmsted County estimated the total market value of the two parcels that make up the property at a combined $770,000 for 2022-2023.
Laserhawk LLC, led by Brian Bos, sold the building. Bos is also the CEO of Rochester's Media Manager, a media consulting firm. Media Manager moved into the property in 2019, when Laserhawk purchased it for $775,000 from Andy Mulholland .
Collins said Media Manager plans to wrap up its departure from the building in the next few weeks. That will mean about four back office spaces plus a basement office will be available for tenants.
Rick Emerson, owner of Classic Cuts, originally built the complex in 2006 to house his salon.