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Heard on the Street: Cable company’s Med City HQ sold for $7.2 million

January 11, 2019

A 10-year-old, northwest commercial complex sold for $7.26 million on Wednesday.

The 31,000-square-foot building at 3993 Heritage Place NW houses cable and internet provider Charter Spectrum. It was purchased by Four Ks 2, LLC of Faribault. Four Ks is managed by Vance Vinar, according to the Minnesota Secretary of State Office.

Olmsted County estimated the market value of the building at $4.27 million for 2017-2018. That estimate is up from 2016-2017 when it was $3.86 million and from 2015-2016 when it was $3.31 million.

Hartman Farms, Inc. of Rochester sold the property. It cost $5 million to build the complex in 2008. Rochester’s AB Systems was the contractor.

Charter moved into the building as its new Rochester headquarters when it was completed in August 2009. Charter based 200 employees there at that time.

Charter also has employees based in the Rochester Technology Campus (formerly IBM) buildings and at a customer call center at 5720 Bandel Road.

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