ROCHESTER — Two Med City commercial buildings changed hands in late December with each selling for more than $5 million.
In separate sales, two southwest Rochester properties sold for $5.53 million and $5.35 million in the final days of the year.
The Mayowood Commons retail center anchored by Buffalo Wild Wings at 793 16th St. SW was purchased for $5.53 million on Dec. 23 by the unimaginatively named 793 16th Street Rochester LLC, which is based on Rochester’s Lady Slipper Lane Southwest. The buyer made a downpayment of $1.38 million.
MCR FG LLC of Wayzata, Minn., which built the center in 2018, was the seller.
In addition to Buffalo Wild Wings, tenants of the 10,700-square-foot commerical center include Associated Bank and First Meeting Noodles. It is located near Panera Bread and the Red44 apartment complex.
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Olmsted County estimated its total market value at $2.56 million for 2021-2022.
An office building at 1301 Salem Road SW, which houses the Edina Realty offices, was purchased on Dec. 17 for $5.35 million by River Bend Holdings LLC. The Rochester-based River Bend is led by local developer Dan Penz, according to state incorporation documents. Penz also owns the nearby TJ Maxx Plaza.
DK Fox Hill LLC, led by Rochester developer John Klopp, sold the 21,728-square-foot, two-story complex. It was built in 1996.
Olmsted County estimated the total market value of the building at $3.33 million for 2021-2022.
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.
