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IRG Finalizes Purchase of IBM’s 3.1M-SF Rochester, MN Campus
Los Angeles-based Industrial Realty Group, LLC (IRG) acquired the IBM technology campus in Rochester, MN that is comprised of more than 3.1 million square feet and 490 acres. IRG’s plan for the site envisions a dynamic, mixed-use, multi-tenant campus expected to bring businesses and job opportunities to Rochester.
The more than 60-year-old campus includes 34 existing buildings, including office, manufacturing, warehouse, data center and laboratory space. IBM will lease-back eight of these buildings on the eastern portion of the campus that is located about 80 miles south of the Twin Cities.
IRG’s John A. Mase says, “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. IRG plans to create an environment that encompasses a variety of uses and creates as many jobs as possible.”
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- ◦Sale/Acquisition
