Northwest Rochester Retail Center Sold

While you probably won't notice any difference, a high-profile shopping center in northwest Rochester recently changed hands.

The retail center, located at the north end of the Rochester Marketplace, just off 41st Street northwest, in front of the Target north store, features businesses like Five Guys burgers and fries, an AT&T store, Sushi Nishiki, Scrubs and Beyond and other stores. It was just sold to a group from San Diego, calling itself HW Rochester, LLC, according to a story in the Post-Bulletin.

The story goes on to say that the center, which was first built in 2000, sold for $5.2 million dollars last week. The seller, Sara Investment Real Estate of Madison, WI, bought the property for $4.5 million back in 2013, the story said. The story also noted that Olmsted County estimated the retail center's market value to be $3.48 million for this year.

So, does this mean there are new stores headed to the development? Probably not -- although nobody can really say for sure. But, seeing as there aren't any vacant stores, it's not likely any big changes are headed to the center anytime soon.

However, the story does note that the sale is a pretty good indicator that Rochester's commercial real estate market is continuing to heat up. Which no doubt means additional growth and more commercial development is likely across the Med City.