Merchants Bank Acquires Dacotah Building In Saint Paul For $1.85 Million From John Rupp

The property asset involved in the transaction is a retail space located at 366 Selby Avenue in Saint Paul, MN. The asset was sold for a total of $1,850,000, covering an area of 46,324 square feet. The property is currently 77% occupied, with W.A. Frost & Co. identified as its largest tenant.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $1,850,000
• Sale Date: 09/01/2026
• Buyer: Merchants Bank
• Seller: John Rupp - DACBLD LLC
• Price per Square Foot: $40

Merchants Bank acquired the property through a foreclosure sale after claiming that the previous owner defaulted on a $2.2 million commercial real estate loan. The seller, John Rupp, has indicated plans to redeem the property through refinancing, which is expected to close in September 2026.