Stunned silence Friday about IBM's move to sell all of its Rochester buildings
ROCHESTER, Minn. (FOX 47) -
IBM has filed a "Land Development Application" to subdivide its 492 acres into two chunks. The company says it intends to lease back any office space it needs in the future in Lot 2, Block 1 of the sprawling complex which was built back in 1956. That's essentially the first group of Big Blue buildings toward the east end of the massive complex.
In its petition to create the so-called "Rochester Business Park," IBM asserts that it will form two buyer units.
It calls these Rochester East Campus LLC, made up of 60 acres, and Rochester West Campus LLC, with 430 acres.
They have created an agreement between the two ownership units to help them share the massive building in certain ways.
The request for a Traffic Impact Study was signed by City Public Works Director Richard Freese on September 21st, so this proposal has been in the works for quite some time, and kept quiet from the public.
When KTTC reached out Friday for any comment from City Council President Randy Staver and Ward 3 City Council Member Nick Campion, both said they had not had time to study IBM's moves.
IBM is planning to make both of the buyer units for East and West as limited liability companies registered in Delaware.
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