Wisconsin investors purchased a new Med City auto shop for $4 million this week, less than two months after it opened.
On Tuesday, Holmen Office Associates and Fox Hollow, LLC, both of Galesville, Wis., bought the north Firestone Complete Auto Care at 5579 Villa Road NW in the Chateau Circle development area. That’s just off of 55th Street Northwest.
It’s near the Compcare urgent clinic and a proposed Popeye’s chicken restaurant.
ALSO READ: Rochester’s Barlow Plaza sold for $20.15 million
The Wisconsin buyers paid $600-per-square-foot for the property, with a downpayment of $1.93 million. Olmsted County estimated the total market value for the building and land at $754,500 for 2021-2022.
The full-service auto repair center opened its garage bay doors for the first time on May 7. It was owned by Villa Road, LLC, in Charlotte, NC.
Rochester developer Rick Penz built the 6,658-square-foot repair shop in the Chateau Circle area.
Villa Road acquired the property in September 2020 for $608,015 from Jay Maier’s Rochester-based 55th Street Holdings, LLC.
Bridgestone, Firestone’s owner, has three locations in Rochester. It also owns two corporate stores – one Firestone Complete Auto Care and one Tires Plus – on the south side of the city.