Olmsted County has 151 real estate deals over $ 1 million in 2021 – Rochester Minnesota news, weather, sports


2021, a year without many business highlights, has turned into a significant year for real estate in Rochester with 151 deals over $ 1 million.

The largest transaction was the January sale of Med City – Springs’ first “gated community” on South Broadway.

Minneapolis – Timberland Partners Investments paid $ 43.3 million for the 228-unit housing community at 560 28th St. SE. As part of the deal, the name was changed to Vista at South Broadway.

That is to say Olmsted Countythe largest real estate transaction in the past five years, according to state records.

Over the past five years, 2021 has seen the most real estate transactions with its five best-selling sales totaling $ 150.9 million. It’s based on public records. It is possible that some 2021 transactions are still being processed and have not yet been published.

In 2020, Olmsted County processed 86 transactions over $ 1 million, down from 72 in 2019 and down from 107 in 2018. The year 2017 marked 69 transactions over $ 1 million. dollars.

2018 was the second highest with 107 transactions over $ 1 million, with its highest sales reaching $ 116.48 million.

After the Springs / Vista deal, the next four biggest deals for 2021 included:

  • Red44, a five-year-old apartment complex in Rochester at 839 16th St. SW was purchased for $ 34 million by Multifamily Regency September 22.

  • Rochester Falcon heights townhouse community, a 120-unit, 15-building development at 1111 Killdeer Lane SE and 1120 Killdeer Lane SE was purchased on November 1 for $ 32.5 million by Falcon Heights-DS, Rochester LLC and Townhouses Falcon Heights LLC, both from Fargo, ND
  • Crenlo engineering cabins sold its taxi manufacturing plant at 2501 Valleyhigh Drive NW for $ 21.5 million on June 29 to an Arizona-based net leasehold real estate trust, STORE Capital Corp. As part of the sale, Crenlo agreed to lease the property for 200 months.
  • the Barlow Square mall at the corner of Civic Center Drive and 11th Avenue Northwest was purchased for $ 20.15 million by the San Francisco-based company Glen Una Management Co. June 22.

Commercial properties weren’t the only deals in Olmsted County that exceeded $ 1 million in 2021. Amid the tight real estate market, several high-priced homes also changed hands.
Here are the top five single-family residential properties without farmland that sold last year, according to state records.

  • A home at 912 Eighth St. SW in Rochester sold for $ 2.59 million on November 1.
  • A home at 1248 Baird Lane NE in Rochester sold for $ 2.45 million on July 30.
  • A home at 722 Irvin Lane SW in Rochester sold for $ 1.779 million on November 23.
  • A home at 1305 Fox Grove Place SW in Rochester sold for $ 1.772 million on July 15.
  • A house at 1320 Hamlet Road SW in Rochester sold for $ 1.62 million on September 16.

Jeff Kiger follows trade action in Rochester and Southeast Minnesota every day on “Heard on the Street”. Send advice to

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or via Twitter at

@whereskiger

. You can call him at 507-285-7798.



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