Northern Lights Business Park LLC Acquires Former Retail Center-Turned-Office Complex In Rochester For $2.3M

A former retail center-turned-office complex in northeast Rochester has been acquired by Northern Lights Business Park LLC for $2.3 million. The property, located at 511 Northern Hills Drive Northeast, spans 12,897 square feet and has a price per square foot of $178.

Summary of transaction details

• Property Type: Office
• Transaction Amount: $2,300,000
• Address: 511 Northern Hills Drive Northeast
• Market: Rochester, MN
• Buyer: Northern Lights Business Park LLC
• Seller: Greg Gill - Northern Lights Properties of Rochester
• Broker: Jay Christenson - Loam Commercial Real Estate

While the buyer, Northern Lights Business Park LLC, is linked to Allen Investments led by Bill Allen, it is worth noting that the acquisition of the office complex marks a significant transaction in the Rochester market. The property's conversion from a retail center to an office space adds to its appeal and potential value.