ROCHESTER, Minn. – The Regan banking family of Hastings, which has dabbled in prime Rochester real estate, now has bought the 13-acre site of the shuttered Kemp dairy and AMPI cheese factory near downtown, records show. The Regan family made the purchase through its Camegaran legal entity. The transaction: $3.7 million. The milk processing facilities closed in 2019. Observers noted that the newly purchased tract, with 1,000 feet of Zumbro River waterfront, adjoins the former Kmart property. Meanwhile, Mayo Clinic uses the Kmart area for parking with shuttles to the clinic. The Regans bought the abandoned Kmart land in 2019 for $7 million. Together the properties are prime for expanding the core downtown area.
To be razed? What will replace dairy? More hotels? Upscale condos? When will Regan family, of the Premier Bank chain, reveal its intentions?
Combined Kemp-AMPI-Kmart blocks. Looking west with th Zumbro River on the other side and the downtown core just beyond. Image: Community Development Department