North Rock buys Rochester center for $8.98M, anchors Chipotle and Panera
CMG•North Rock Real Estate and investors paid $8.98 million on June 11 for Rochester Crossings, a 23-year-old, 10-unit commercial center at 3780 Marketplace Drive NW. Anchored by Chipotle and Panera Bread and with Wingstop replacing GameStop, the property is now 100% occupied.
1. Transaction Details
North Rock Real Estate and a group of investors purchased Rochester Crossings for $8.98 million on June 11, acquiring a 23-year-old, 10-unit retail complex located at 3780 Marketplace Drive NW in northwest Rochester.
2. Tenant Anchors and Occupancy
The center is anchored by Chipotle Mexican Grill and Panera Bread, situated alongside the Target North complex, and has achieved full occupancy after Wingstop signed a lease to replace the former GameStop store.
3. Ownership History
Developed in 2003 by Paster Enterprises on land bought for $1.43 million, the property sold to the Pfaff family in 2005 for $6.9 million, to Woodbury Hotel LLC in 2006, and to MJB Petrol, LLC in 2020 for $9.5 million.
