ROCHESTER, Minn. – IBM has sold its location in Rochester.
The 490 acre technology campus has been bought by Industrial Realty Group, a nationwide real estate development and investment firm. IRG says it is planning to turn the location into a “mixed-use, multi-tenant campus.”
The sale includes all 34 existing buildings but IBM says it will lease eight buildings on the eastern portion of the property to continue its operations in Rochester.
“We are delighted to add this great asset to our portfolio. Utilizing our nationwide network, we have already engaged many potential tenants who are interested in locating their operations to this high-tech campus.” said John A. Mase, Chief Executive Officer of IRG. “IRG plans to create an environment that encompasses a variety of uses and creates as many jobs as possible.”
IBM took over the property in 1957 and it was designed by Eero Saairnen, a Finnish-American architect who also designed the Gateway Arch in St. Louis.