Rochester IBM Site Sold for $68,000 Per Acre
Rochester, MN (KROC AM News) - We now know how much the Rochester IBM site sold for.
The purchase price of $33.9-million was recorded at the Olmsted County Property Records office this week.
The site was purchased last month by Los Angeles-based Industrial Realty Group. The firm says it has already been talking with tenants about possible leases. One tenant has already signed a long-term lease. IRG announced a few weeks ago IBM has agreed to a lease of eight of the site’s 34 buildings.
In making its purchase announcement last month, IRG said “its plan for the site envisions a dynamic, mixed-use, multi-tenant campus, which will bring businesses and job opportunities to Rochester. IRG plans to create an environment that encompasses a variety of uses and creates as many jobs as possible."
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