Hot Property

Size: 147,000 square feet

Type: Retail

Built: 1952

Owner: Jordan Realty Corp.

For the past five years, the Miracle Mile Shopping Center in Rochester seemed to need a miracle of its own to survive -- and it's getting one.

The landmark independent strip mall this spring will receive the final touches on a $2 million exterior renovation, including new stone facades, paint, lighting and design updates. More importantly, in March, Coon Rapids-based HOM Furniture will open its first store in the Rochester market.

HOM President Wayne Johansen confirmed that he spent $2 million to buy the anchor space at the north end of the center, but says he doesn't have a final figure on the cost of the new store's build-out. The company website says HOM spent $6 million on its store in Fargo, N.D., in 2005 and $10 million on an Eau Claire, Wis., store in 2004. When the Rochester store opens, HOM will have 12 stores in Minnesota, Wisconsin, Iowa and North Dakota.

As retail centers grew larger and expanded to the north and now to the south ends of town, Miracle Mile remained landlocked and tied to the city's core. Donaldson's became Carson Pirie Scott & Co., and five years ago took on the Herberger's name and moved out, relocating to the larger Apache Mall.

But Miracle Mile general manager George Bayrd didn't give up. He says he called HOM's Johansen as soon as Carson's pulled out, but possible ownership changes at Miracle Mile and other delays stalled the deal until now.

"Because we were built so early, we have the best location in town," said Bayrd, who grew up just six blocks from the center, which now has about three dozen businesses, including a hardware store, liquor store, salons, service businesses and retail.

Johansen said he chose the site because the highway visibility is strong, land costs are lower than in the larger, newer retail centers and because Miracle Mile provides a central spot for furniture shoppers, who consider HOM a "destination location."

Bayrd said leasing is strong, but he has one 13,000-square-foot junior anchor space left.