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Northeast Med City complex sold for $995,000

Rochester-based Podnow LLC bought the 19-year-old complex at 305 Alliance Place on Nov. 24. The complex is north of 37th Street Northeast and East River Road Northeast. The American Red Cross of Southeast Minnesota has leased the building since 2018.

Heard on the Street - Jeff Kiger column sig
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A Med City commercial center in northeast Rochester has a new owner after a $995,000 transaction.

Rochester-based Podnow LLC bought the 19-year-old complex at 305 Alliance Place on Nov. 24. The complex is north of 37th Street Northeast and East River Road Northeast.

The American Red Cross of Southeast Minnesota has leased the building since 2018.

TPRP LLC, a Rochester firm that lists Todd Fiedler as its manager, sold the property. TPRP had owned it since July 2018, when it acquired the 4,680-square-foot building for $925,000 from the Pensco Trust Co.

The building has housed a variety of tenants in its almost two decades, including Stifel, Nicolaus & Co. and the KNXR FM–Minnesota 97.5 radio station.

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Olmsted County estimated its total market value at $949,700 for 2021-2022.

Biz buzz

While real estate transactions, both commercial and residential, have been running hot in Olmsted County, it’s not the only place in southeastern Minnesota where lots of properties are changing hands.

Winona County Recorder Bob Bambenek recently announced that his county tallied 83 home sales in November. That’s up from 58 sales in November 2020.

For the year so far, Winona County has recorded 708 home sales compared to 626 at this point in 2020. That’s a 13 percent increase.

Five of those transactions were more than $400,000 with 22 of them being in the $150,000 to $200,000 range.

Bambenek described the number of deals as “amazing and very competitive.”

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