IBM Corp. announced a plan to sell off as much as 1 million square feet of space to an outside developer as it looks to cut back on some excess real estate holdings in Rochester.
In a statement, the company says it will retain eight buildings on the east side of its campus and the sale would "involve no personnel changes" apart from the moves between buildings.
"We have begun to redesign and reconfigure office spaces for agile work and collaboration that can better facilitate teamwork and idea generation. This will drive faster innovation, create an even better environment for our employees and result in a win for IBM and our clients."
The Business Journal notes that Gary Smith, the president of the Rochester Area Economic Development Inc., said he'll work with the company to market the property.
According to the report, Smith says there is already some interest in some of the space.
"I see this as a positive development," Smith told the Business Journal. He notes that much of the space being put on the market was already empty.
While IBM has gone through years of cutbacks it remains one of the biggest corporations in Rochester.
According to the Rochester Post Bulletin, at its height more than 8,000 employees worked on the site that occupied about 3.5 million square feet of space.
That number dropped to an average of 2,677 employees on the Rochester campus in 2014, according to numbers IBM reported to the Occupational Safety and Health Administration.
IBM expects the move to be completed by March of 2017.