3M signed an agreement to sell its Four Points campus, 6801 River Place Blvd., Austin, to the World Class Capital Group, 3M spokesperson Lori Anderson said.
The World Class Capital Group is a real estate investment firm, according to the company’s website. 3M makes notepaper, tape, computer accessories, laminating systems and packaging products.
Anderson said the transaction is expected to close in the fourth quarter of 2017. The property has been for sale since August 2016.
Today, 3M announced to employees the company is investing in a new building on leased property in North Austin, located approximately 15 miles east of downtown Austin, she said.
“We anticipate that people will transition to the new building starting in April of 2019,” Anderson said.
She said approximately 800 employees currently work at the site and all are expected to move to the new location. In the meantime, 3M will lease the current campus from World Class Capital Group and its employees will continue to work there, Anderson said.
Leander Independent School District has been working with 3M to develop a secondary access road to Four Points Middle School and Vandegrift High School.
LISD Chief Communications Officer Corey Ryan said he does not yet know how the sale of the property will affect proposals for the road.
“Our goal is to continue to work toward getting a road built for Vandegrift High School,” Ryan said. “We look forward to working with anybody who’s going to help us in that endeavor.”