The Lothenbach Family Office, a prominent property at 401 East Lake Street in Wayzata, has been sold for $17,475,000, marking a significant transaction in the city’s commercial real estate landscape. The property, had been owned by 401 Lake, LLC, and was purchased by Fish Base LLC, based in Plymouth, Minnesota. The deal, finalized on December 20, 2024, includes both the land and the 10,594-square-foot building, which has been used for general retail purposes.
This prime Lake Street location adds to the dynamic business environment of Wayzata, a city known for its upscale shops and restaurants. The buyer’s intended use for the property remains undisclosed but will likely align with the area’s retail focus.
Remembering Bob Lothenbach
The sale of this property coincides with reflections on the legacy of Robert John Lothenbach, the former owner of 401 Lake, LLC, who passed away unexpectedly on November 14, 2023, at the age of 64. Bob Lothenbach was a visionary entrepreneur, founder of Imagine! Print Solutions, and a celebrated figure in the thoroughbred racing community.
Raised in Bloomington, Minnesota, Lothenbach’s career began humbly, working at local print shops before founding his printing empire in his garage in 1988. His company grew to national prominence, earning him accolades, including induction into the Printing Industry Hall of Fame. Beyond business, his passion for horse racing led to the establishment of Lothenbach Stables, one of the country’s most successful thoroughbred operations.
Bob was equally devoted to his family and philanthropy. His four children, Clare, Audrey, Michael, and Ryan, were the pride of his life, and he dedicated his foundation to supporting children’s literacy and equine welfare. His achievements in horse racing earned him multiple honors, including induction into Canterbury Park’s Hall of Fame in 2023.
The sale of 401 East Lake Street reflects the end of a chapter in Wayzata’s commercial history and the enduring influence of Bob Lothenbach’s entrepreneurial and community spirit.
Source: “Robert John Lothenbach Obituary,” Morris Nilsen Funeral Chapel, accessed January 7, 2025, https://www.morrisnilsen.com/obituary/robert-john-lothenbach/.
