Although the Four Points location of 3M is for sale, the global corporation hopes to stay on as a tenant in the 156-acre campus at 6802 River Place Blvd., Austin, said W. Scott Bumpas, managing principal of Cresa Corporate Solutions. Cresa is offering the site for sale.

3M produces notepaper, tape, computer accessories, laminating systems and packaging products.

Through its spokesperson Lori Anderson, the company announced its plans in August to offer the property for sale.

“3M would want to remain there as a tenant,” Bumpas said Oct. 5 of the campus located near the intersection of RR 620 and RR 2222. “They’re keeping a good size of employees there and would like to remain on-site, but if a buyer wants to take over, they’ll move.”

Anderson said the company houses about 800 employees—mainly in 3M’s electronics and energy business group—at the site.

Bumpas said his office is planning to send an offering memo the week of Oct. 10 to investors who may want to buy the property. However, he said 3M is not listing an offering price for the site and is allowing buyers to determine that.

“We’re just going to send [the memos] out and have people bid on it,” Bumpas said. “It’s very unique to be in that part of town, and a 156-acre [tract] is hard to find these days.”

He said the 3M campus produces its own electricity in a building on the site, making the company an off-the-grid utility user, and the tract houses an additional approximately 1 million square feet that is available for additional building sites.

Bumpas said he has had strong buyer interest in the 3M parcel from a variety of investors, and a sale may not be finalized until the third or fourth quarter of 2017.