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Downtown Rochester real estate market booms

February 10, 2014
Associated Press

ROCHESTER, Minn. (AP) — The booming real estate market in downtown Rochester, fueled by the Mayo Clinic's expansion, is pricing some businesses out of the market and displacing others.

Among them is CJ's Midtown Lounge, where Minnesota Public Radio reports (http://bit.ly/1aNMyaY ) that dropping in for happy hour is like taking a trip back in time. It's a place where beers cost $2, the jukebox plays oldies all day and everybody knows each other by first name.

But the bar two blocks from the Mayo Clinic won't be there much longer. A developer bought the building a few years ago and plans to replace it with a high rise development with a hotel, apartments and upscale restaurants. Owners Gary Kruse and Bob Sund are rushing to find an affordable space and relocate by April 1.

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Information from: Minnesota Public Radio News, http://www.mprnews.org

 
 

 

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