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Fainsbert Mase Brown and Sussman Represents IRG in Acquisition of IBM Campus in Minnesota, USA.

MANews-(C)2009-2018

26 February 2018 - US-based law firm Fainsbert Mase Brown and Sussman, LLP represented US-based property company Industrial Realty Group, LLC in its purchase of the 3.1m sq. ft. IBM technology campus in Rochester, Minnesota, the firm said.

The site is comprised of approximately 490 acres and 34 existing buildings, including office, manufacturing, warehouse, data centre and laboratory space.

IRG's plan for the site envisions a dynamic, mixed-use, multi-tenant campus, which will bring businesses and job opportunities to Rochester.

Affirming its continued commitment to the Rochester area, IBM signed a long-term lease agreement for eight campus buildings.

The complex transaction took more than a year to close because of the large scale of the property, as well as negotiating with a multi-level, corporate legal team.

This property was designed by Eero Saarinen, a 20th-century Finnish American architect known for also designing the Gateway Arch in St. Louis, Missouri.

IRG, a Los Angeles-based company, owns and operates more than 150 major projects and developments in 28 states.

Country: USA

Sector: Business and Consumer Services

Target: 3.1m sq. ft. IBM technology campus in Rochester, Minnesota

Buyer: Industrial Realty Group

Vendor:

Deal size in USD:

Type: LBO

Financing:

Status: Closed

Buyer advisor: , ,

Comment: Terms of the deal were not disclosed

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Publication:M & A Navigator
Geographic Code:1U4MN
Date:Feb 26, 2018
Words:211
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