Wells Fargo paid $7 million to Wispark Corp., a subsidiary of Milwaukee-based Wisconsin Energy Corp., for the property. The site is in Rice Creek Corporate Park, near the southeast quadrant of Interstate 35W and County Road J. While the site in Rice Creek Corporate Park could hold two buildings of up to 300,000 sf each, Wells Fargo says it has no plans at this point what they will develop on the site.

Spokesperson Teresa Morrow says a number of Wells Fargo's operations are growing rapidly in the Twin Cities, including its shareholders services, phone bank and check processing operations. In fact, Wells Fargo has20 national business units based in the Twin Cities, she says. But no decisions have been made about how those growing space needs would play into future plans for the site.

"We bought the land because it's accessible to a major freeway, has ample room for parking and can be tailored to our needs," she says. "As our company grows and changes we're always evaluating space issues.