Vern Eide acquires former Citibank property

September 11, 2026 - 05:34

An entity connected to Vern Eide Motorcars has finalized the acquisition of the former Citibank campus located in northeast Sioux Falls. The property, which had sat vacant following Citibank's departure, covers a substantial parcel of land and includes existing office infrastructure that could serve multiple purposes for the growing auto dealership group.

Details of the transaction were not immediately disclosed, including the purchase price or specific plans for the site. Representatives for Vern Eide have not outlined a timeline for any redevelopment or reuse of the buildings. The campus sits along a busy commercial corridor, making it an attractive piece of real estate for a company looking to expand its operations in the region.

Vern Eide operates several dealership locations across South Dakota and surrounding states, offering new and used vehicles along with service and parts departments. The acquisition marks another step in the company's ongoing growth strategy within the Sioux Falls market.

The former Citibank property had been on the market for some time. Its size and location near major roads made it a candidate for redevelopment, though the buyer's intentions remain unclear. Local observers note that the site could accommodate a range of commercial uses, from additional dealership space to back-office functions.

Further announcements regarding the property's future are expected in the coming months.