May 8—ROCHESTER — A Chanhassen investor recently paid $2.1 million for a cold storage facility in northeast Rochester.

Mike McGuire purchased the 18-year-old Minnesota Cold Storage complex at 7447 Dresser Dr. NE on April 30. McGuire made a downpayment of $225,000. Furniture, fixtures and equipment valued at $409,395 were included in the sale.

The 16,000-square-foot facility is located off of Highway 63 North and 75th St. near the Family Tree Landscape & Nursery.

Former Byron High School football coach John Austinson of Eyota, who had owned it since he bought it for $555,000 in 2020, sold the property. While McGuire owns the building, Austinson will remain on and will continue to manage Minnesota Cold Storage with no changes to the business.

The facility offers 61,000-cubic-feet of freezer space and 30,500-cubic-feet of cooler space.

Loam Commercial Real Estate of Rochester represented the buyer and seller of the property and handled the sale

Olmsted County estimated the total market value of the building and land at $1.49 million.