This paper is aimed at providing new insight into the nature and origin of the molecular complex situated near the line of sight toward Holmberg IX in the M 81 group of galaxies . The first high resolution CO maps of the complex as well as single dish ^ { 13 } CO ( 1–0 ) , ^ { 12 } CO ( 3–2 ) and millimeter continuum observations and the results of a survey of ^ { 12 } CO in the region are presented . These data together with the available H i , optical and X-ray observations are analyzed to study the properties and environment of the complex . We confirm there is no unobscured massive star formation inside the complex and from the millimeter constraint on the extinction it must have a low star formation rate or be forming only low mass stars . According to the CO line ratios the abundances and physical conditions could be similar to that of cold gas in spirals . We find from its dynamics ( no rotation ) and its mass ( 2–6 million solar masses ) that it resembles a massive GMC . Also , re-inspecting N-body simulations of the M 81 group and the H i data we find that it might be located inside the extreme outer disk of M 81 and be cospatial with the H i feature known as Concentration i . The negative result of the CO survey suggests that the complex is unique in this region and calls for a peculiar local formation process . We find that the distribution of the CO emission in the data cube is asymmetrical in a way similar to a cometary object . The optical observations of the nearby supershell MH9/10 suggest the existence of an outflow toward the complex . We consider the possibility that the molecular complex is related to this hypothetical outflow .