Fainsbert Mase Brown and Sussman Represents IRG in Acquisition of IBM Campus in Minnesota, USA.
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.
Sector: Business and Consumer Services
Target: 3.1m sq. ft. IBM technology campus in Rochester, Minnesota
Buyer: Industrial Realty Group
Deal size in USD:
Buyer advisor: , ,
Comment: Terms of the deal were not disclosed
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|Publication:||M & A Navigator|
|Date:||Feb 26, 2018|
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