HGAR’s Commercial Investment Division To Be Briefed on Former Pfizer Campus Plans

John Jordan | April 2016

PEARL RIVER—The Hudson Gateway Association of Realtors’ Commercial Investment Division will take to the road for its next session on May 19th at the former Pfizer campus here that is now mostly owned by Industrial Realty Group, LLC of Los Angeles.

IRG, a nationwide real estate development and investment firm, acquired more than two million square feet of commercial space and 200 acres of the Pfizer campus at 401 North Middletown Road in Pearl River last year.

IRG purchased approximately 38 buildings of laboratory, manufacturing, office and support buildings. Pfizer retains and operates 500,000 square feet of space and leases back approximately 1.2 million square feet from IRG. At the time of the sale, IRG officials stated that the early stages of its plan for the site calls for a “dynamic mixed use, multi-tenant campus, which will bring businesses and job opportunities to Rockland County.”

The session next month will be a return visit for some CID members since the CID traveled to the Pearl River campus back in November 2013 and were briefed by Pfizer officials on space availabilities there as well as the pending sale of the property at the time.

Richard Struck, president of the Rockland Economic Development Corp., will host the program and will discuss “Rockland County and Future Plans for the IRG Campus.”

Other scheduled featured speakers at the program include: John Cunningham, executive managing director, Colliers International, exclusive leasing agent for the IRG property who will provide details on the plans for the IRG campus; and Larry Gottlieb, president and CEO of the Hudson Valley Economic Development Corp., who will share how the campus and Rockland County are linked to HVEDC’s “NY BioHud Valley” initiative. In addition, a representative of IRG is expected to discuss the future of the campus as well.

The free event will begin with networking at 9:30 a.m. with the program beginning promptly at 10 a.m. A continental breakfast will be provided.

For more information and to register CLICK HERE : or contact HGAR’s Mary Prenon at (914) 681-0833.

Click Here for Information on the IRG Campus and The Pearl River Project

 

John Jordan
Editor, Real Estate In-Depth