E
conomic uncertainty, inflation, and higher interest rates shaped 2025 real‑estate activity, yet Rochester and Olmsted County still saw several headline‑making transactions.
**1. Rochester Meat Co. – $20.57 M**
Tenet Equity Funding SPE IV, Inc. of Scottsdale, Arizona, paid the largest price in the county by acquiring the Rochester Meat Co. complex on June 24. The deal covered two assets: the processing plant and related buildings at 825 Seventh St. NW and 1232 Valleyhigh Drive NW for $13.1 M, plus a 36‑year‑old industrial building at 4239 W. U.S. Highway 14—also used by the company—for $7.47 M. Rochester Meat Co. employs roughly 240 workers.
**2. Broadway Commons – $19.75 M**
On July 31, Sower LVFII Rochester 2660, LLC and SC‑SMA Rochester 2660 (both linked to Sower Investment Partners, Omaha) purchased two retail sites in the Broadway Commons area. The transaction included a 134,000‑sq‑ft center at 30 25th St. SE, home to Famous Footwear, DSW, Total Wine, Michaels, Boot Barn, Petco, and Five Below, and an 8,800‑sq‑ft building at 2660 Broadway S. that houses DaVita Dialysis and Modern Design Custom Cabinetry. The adjacent Kohl’s at 20 25th St. SE was excluded.
**3. Pebble Creek Land – $15.74 M**
Lennar Corp., the nation’s second‑largest home builder, acquired 367 acres of farmland northwest of Rochester on August 22. The purchase supports a planned 900–960‑unit development in Pebble Creek, the company’s largest southern Minnesota project. The land, previously owned by the DeWitz family since 2003, will be developed on three sides of the existing community, extending south to Behrens Lane NW, west to County Road 3, and north toward a projected 2028 extension of 55th St. NW.
**4. First Student Bus Facilities – $10.86 M**
The Sweden‑based First Student sold its Rochester transportation sites to TFI Bus Portfolio, LLC (J.P. Morgan Asset Management) on June 17. The sale comprised five parcels at 2450 30th Ave. SE for $4.61 M and five parcels at 3212 32nd Ave. NW for $6.25 M. First Student will lease the properties back, citing a strategic shift away from ownership to support growth in student transportation.
**5. Flats 55 – $9.35 M**
PRE/3, a Brookfield‑affiliated multifamily firm, purchased the Flats 55 apartment complex at 1501 11th Ave. NW in Stewartville from Stewartville Flats, LLC. The property had been owned by former executive Matt Onofrio, who faced a bank‑fraud conviction. The transaction was brokered by Rochester realtor Merl Groteboer, who later pleaded guilty to falsifying statements to an FBI agent during the Onofrio investigation.
Jeff Kiger, columnist for the Post‑Bulletin, covers local business news and other regional topics. He can be reached at [email protected] or @whereskiger on Twitter; his office number is 507‑285‑7798.
