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Rochester firm buys building leased by Mayo

A 22,106-square-foot building at 4544 Canal Place S.E. was purchased by 451 Enterprises LLC.

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A medical complex in Southeast Rochester that is leased by Mayo Clinic recently sold for $1 million.

The 22,106-square-foot building at 4544 Canal Place SE was purchased Dec. 20 by 451 Enterprises LLC, a Rochester firm led by Richard A. Keehn.

That center is leased by Mayo Clinic to house its Family Clinic Southeast facility. The clinic features 30 exam rooms, five consultation rooms and one large procedure room. It is located in Rochester’s Shoppes on Maine commercial development, not far from a branch of the Mayo Clinic Employees Credit Union.

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Canal Place Pointe Inc., which is owned by a group of local investors, quietly built the complex in 2014. L.D.B.E. Johnson LLC, a Rochester company led by Lloyd Johnson, was the seller in the Dec. 20 transaction.

Olmsted County estimated the total market value of $4.4 million for 2021-22.

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In 2014, Dr. David Agerter, Mayo Clinic's employee and community health medical director, said the decision to lease rather than own the facility was made because "similar arrangements have worked well" for the clinic.

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.

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Jeff Kiger writes a daily column, "Heard Around Rochester," in addition to writing articles about local businesses, Mayo Clinic, IBM, Hormel Foods, Crenlo and others. The opinions of my employer do not necessarily reflect my opinions. He has worked in Rochester for the Post Bulletin since 1999. Send tips to jkiger@postbulletin.com or via Twitter to @whereskiger . You can call him at 507-285-7798.
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