3M to sell west Austin site, move to new Parmer Lane location

Company downsizing to a more modern space

3M's current 156-acre site off of Ranch to Market 620 and Ranch to Market 2222 (KXAN Photo)
3M's current 156-acre site off of Ranch to Market 620 and Ranch to Market 2222 (KXAN Photo)

AUSTIN (KXAN) — Office supply manufacturing company 3M is moving to a new location in Austin.

3M spokeswoman Lori Anderson says the company will break ground on a new, state-of-the-art building off East Parmer Lane later this year. The company expects to move into that building by April of 2019.

The company plans to sell its current 156-acre site off of Ranch to Market 620 and Ranch to Market 2222 to World Class Capital Group, a private investment firm headquartered in Austin. Anderson says after the sale, 3M will lease its current space back from World Class Capital Group and continue to operate there for the next two years until the new Parmer site is ready.

Anderson says 800 employees will be moved to the Parmer location, which will be a 272,000-square-foot building. Anderson says the new work space in northeast Austin will be modern, fostering innovation and collaboration.

Austin-based employees perform business support operations, with positions ranging from marketing to supply chain jobs.

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