Vern Eide Buys Historic 69-Acre Sioux Falls Citibank Campus

An entity connected to Vern Eide Motorcars has officially acquired the expansive former Citibank campus located in northeast Sioux Falls. The massive 69-acre commercial property spent over seven years on the real estate market following the financial institution’s departure.

Originally constructed during the early 1980s with additional phases stretching into the mid-1990s, the site stood mostly vacant after 2019. Zurich Insurance Group previously held ownership of the sprawling asset before local leadership stepped in to negotiate a fresh chapter for the land.

Breathing New Life Into Commercial Real Estate

When dealing with massive corporate footprints, structural preservation often takes a backseat to total redevelopment. However, this acquisition shifts away from demolition trends in favor of sustainable home design and adaptive reuse principles.

Vern Eide CEO Jim Lake intends to preserve the existing architectural framework instead of flattening the structures. Real estate experts following the transaction noted that local oversight significantly simplified the negotiations.

Future Visions for the Northeast Campus

Redeveloping a plot of this magnitude requires careful planning and a deep appreciation for architecture articles detailing large-scale transformations. Lake envisions a vibrant mix of multiple commercial and operational uses across the sprawling grounds.

Meanwhile, Avera Health maintains an active lease on one of the campus buildings for ongoing training and back-office functions. Stakeholders are eager to see how the remaining spaces evolve as detailed redevelopment timelines roll out.

 
Here is the source article for this story: Vern Eide acquires former Citibank property