550-acre campus offers many options for large-scale development
PEARL RIVER, N.Y. (March 23, 2012) – Approximately 80 real estate brokers and agents as well as local governmental dignitaries had an opportunity to view first-hand the Pfizer Pearl River Campus, which is available for lease or sale, at Hudson Valley Economic Development Corp.’s Pfizer Showcase and Tour today.
The campus is being offered through Cushman & Wakefield Inc. Buildings previously held research chemistry labs, administrative offices, other offices, manufacturing space, mechanical areas, warehouse space, storage space, machine shops and a 275-seat auditorium. Pfizer’s options include the sale of the entire 550-acre campus with 20 primary buildings totaling 2.8 million square feet with Pfizer seeking to lease back a portion, or alternatively, selling or leasing four buildings totaling 360,000 square feet.
“We were pleased to have the opportunity to help present this tremendous property to key individuals in the Hudson Valley that transact real estate on a daily basis,” said Mike Oates, CEO and President of HVEDC. “This campus has many, many uses for the right developer looking for an excellent opportunity on a large scale.” HVEDC works to develop economic growth throughout the Hudson Valley region, which includes the counties of Westchester, Putnam, Dutchess, Rockland, Orange, Ulster and Sullivan.
Visitors during the showcase had the opportunity to see a presentation from local economic development officials, Pfizer and Cushman & Wakefield and tour a few buildings on campus to see the potential the site offers.
One of the premier corporate biotechnology campuses in the United States, the Pfizer Pearl River Campus sits 20 miles north of Manhattan at 401 N. Middletown Road, Pearl River. On the property, 235 acres are developed and 300 acres are undeveloped. In addition to the available rentable square feet, 2.2 million square feet of additional development is permitted on the developed portion of the campus.
“This campus has had a wonderful and lengthy history of pharmaceutical development, beginning with Dr. Ernst Lederle and carrying through American Cyanamid, American Home Products, Wyeth and now Pfizer,” said Alex Tosi, senior director, Business Process Management and Strategy, Pfizer Global Supply. “We’re optimistic that the future use for this dynamic site can help preserve the economic stability of the region, and benefit both the community and Pfizer.”
“There are many future uses for this type of property because of its excellent location and with an environment that includes outstanding educational institutions, a highly educated workforce and affordable housing,” said Christopher E. Kinum, executive director, Global Life Science Practice, Cushman & Wakefield. “This property could evolve into a biotech/pharmaceutical campus, medical research campus, university campus, high-tech/creative campus, office campus/office park or data center and disaster recover site.”
About Pfizer Inc.: At Pfizer, we apply science and our global resources to improve health and well-being at every stage of life. We strive to set the standard for quality, safety and value in the discovery, development and manufacturing of medicines for people and animals. Our diversified global health care portfolio includes human and animal biologic and small molecule medicines and vaccines, as well as nutritional products and many of the world’s best-known consumer products. Every day, Pfizer colleagues work across developed and emerging markets to advance wellness, prevention, treatments and cures that challenge the most feared diseases of our time. Consistent with our responsibility as the world’s leading biopharmaceutical company, we also collaborate with health care providers, governments and local communities to support and expand access to reliable, affordable health care around the world. For more than 150 years, Pfizer has worked to make a difference for all who rely on us. To learn more about our commitments, please visit us at www.pfizer.com.
About Hudson Valley Economic Development Corporation (HVEDC): HVEDC represents seven counties in Hudson Valley. This public-private partnership markets the region as a prime business location to corporate executives, site selection consultants and real estate brokers. HVEDC also helped start the branding and promotional effort for NY BioHud Valley. For more information on Hudson Valley Economic Development Corporation or to review available business sites, visit www.hvedc.com or call CEO Mike Oates at 845-220-2244.
