While things on the street have quieted down a bit during the dog days of summer, real estate deals are still happening inside air-conditioned offices.
In recent weeks, two Rochester commercial complexes sold for a total of $4.6 million.
The recently closed Trade Mart Furniture Center at 3030 Seventh St. NW was purchased $1.95 million on Aug. 6 by WSP Rochester LLC, of American Fork, Utah. WSP bought it from A & J Larson Real Estate LLC of Rochester. The Larson family were the longtime owners of the 83 year-old Trade Mart business.
WSP stands for Wasatch Storage Partners of Utah.
This purchase clears the way for store and adjacent property to be turned into “a climate-controlled self storage facility.”
Wasatch Storage has already filed an application describing its plans to transform the 50,000 square-foot furniture center into a storage business labeled as ”Country Club Self Storage.”
Wastach is national company that specializes “… in self storage development, acquisitions and asset management.” The business already has Minnesota projects in White Bear Lake, Lake Elmo and Inver Grove Heights.
In addition to storage in the building, the plans show that part of the parking lot will be revamped to accommodate long-term parking of up to 14 recreation vehicles.
On the other end of the Med City, a 10-year-old retail center at 221 28th St. SE was purchased by C&R Elton Hills LLC of Rochester for $2.67 million at the end of July.
The 10,741 square-foot complex, which stands next to Rochester’s south Goodwill store, was sold by BER Properties LLC of Oronoco. The center houses a number of retail tenants including GameStop, The Barbershop and the Mega Coin Laundry.
BER Properties originally bought the building for $2.1 million in 2013.