ROCHESTER, Minn., Feb. 23, 2018 /PRNewswire/ -- Industrial Realty
Group, LLC (IRG), a nationwide real estate development and
investment firm, is excited to announce its purchase of the IBM
technology campus in Rochester,
Minnesota, comprised of more than 3.1 million sq. ft. and
490 acres. IRG's plan for the site envisions a dynamic, mixed-use,
multi-tenant campus, which will bring businesses and job
opportunities to Rochester.
The site 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, affirming its continued commitment to the Rochester area by signing a long-term lease
agreement.
In addition to its own business activities, IBM has contributed
to the local economy by attracting numerous existing tenants to the
technology campus and investing in facility upgrades and
infrastructure. IRG's expertise will now attract additional tenants
and secure the property's future.
"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."
Since occupancy began in 1957, the site's employees have
produced thousands of U.S. patents on behalf of IBM. The property
was designed by Eero Saarinen, a 20th-century Finnish American
architect known for also designing the Gateway Arch in St. Louis, Missouri.
About IRG
IRG is a nationwide real estate development
and investment firm specializing in the acquisition, development
and management of commercial and industrial real estate throughout
the U.S. IRG, through its affiliated partnerships and limited
liability companies, operates a portfolio containing over 100
million square feet space in 28 states. IRG is nationally
recognized as a leading force behind the adaptive reuse of
commercial real estate, solving some of America's most difficult
real estate challenges. For more information, visit
www.industrialrealtygroup.com.
For more information, contact:
Lauren Crumrine | Director of
Marketing | IRG
(614) 562-9252
lcrumrine@industrialrealtygroup.com
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SOURCE Industrial Realty Group, LLC