IBM, like Australia Post and Telstra recently, will move staff from the city to the suburbs.
The IT group is speculated to have rented about 4000 square metres at the former Simplot building at 1279 Nepean Highway Cheltenham.
Sources say the space will house a data centre.
The staff to run it are presently based in town.
IBM also recently rented about 3300 sqm formerly occupied by the Australian Wheat Board at 380 La Trobe Street in the CBD.
It also rents at 300 La Trobe St and has its headquarters at Southbank’s City Road.
Kelly & Kelly’s Gordon Kelly negotiated the Cheltenham deal; it is understood rent is c$250 per sqm, per annum.
An IBM spokesperson didn’t return Capital Gain’s calls.
Last week, Australia Post leased 4000 sqm at Mount Waverley while earlier Telstra moved staff to a 40,000 sqm Clayton office complex.