Minnesota apartment developer purchases Walker’s Point warehouse

100-year-old building sold to Roers Companies

214 E. Florida St. Photo by Loopnet.

Last updated on May 15th, 2019 at 04:49 pm

An affiliate of a Long-Lake, Minnesota-based apartment developer has purchased a five-story warehouse in Walker’s Point for $3.8 million, according to state records.

214 E. Florida St. Photo by Loopnet.

An LLC affiliated with Roers Companies bought the property at 214 E. Florida Street from Milwaukee-based 214 East Florida Street LLC.

The 118,419-square-foot property was built in 1918. It is assessed by the city for $1.25 million.

Roer specializes in senior, student, market-rate, mixed use, and affordable developments across metropolitan markets in Minnesota, Iowa, North and South Dakota, Montana, and Wisconsin, according to the company website.

Representatives from Roers could not immediately be reached on Monday.

In August 2016, Roers purchased vacant land located at 1333-1339 N. Milwaukee St. from LCM Funds 41 for $950,000.

The company pulled a building permit in December 2016 for a projected called The Skye Apartments; however, that project has not moved forward and the land is still vacant.

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