A St. Paul buyer found a Med City bed store’s number – $2.35 million.
Abraham Properties, LLC, led by Joseph Abraham Jr., purchased the Sleep Number center at 2257 Commerce Dive NW on May 21. Austin-Texas-based ANZRF, LLC, sold the property.
The 3,000-square-foot, net-leased property was built in 2018 as a home for Select Comfort’s Rochester store.
When the building along West Circle Drive Northwest was completed, the Sleep Number store in the Apache Mall moved to the new location.
Tom Gommels, an investment specialist with the Minneapolis office of commercial real estate brokerage firm Marcus & Millichap, handled the listing for ANZRF.
“We received multiple written offers and ended up closing at full list price with a buyer in a 1031 Exchange,” stated Gommels in announcement of the deal.
Olmsted County estimated the total market value of the property at $962,600 for 2021-2022.