Hudson Valley iCampus Closes $40M In Major Lease, Renewal Transactions
Real Estate In-Depth | February 6, 2023
PEARL RIVER—Officials with the Hudson Valley iCampus in Pearl River report the ownership has closed lease and renewal deals totaling 337,589 square feet on campus valued at more than $40 million from August 2021 through December 2022.
“We are very pleased with how swiftly our rebranding program and outreach to the community has positively impacted our leasing efforts,” said Jamie Schwartz, President of Hudson Valley iCampus. “Additionally, the strong onsite management team we have built enables us to provide our tenants with best-in-class management, which continues well after a lease is signed.” Improvements can be seen throughout the 207-acre campus—from signage and infrastructure to roadways and security, he added.
Some of the notable transactions at the complex were:
Pfizer, Inc. leased a total of 86,243 square feet of office and laboratory space in multiple buildings at the campus. Pfizer also owns approximately 30 adjacent acres housing additional laboratory and office space. Cushman & Wakefield represented Pfizer.
Momentive Performance Materials, Inc. leased 66,430 square feet in a previously vacant building at the campus. Momentive is a global high-performance silicones and specialties company that is relocating from Tarrytown to open a Global Innovation Center to support its growing Performance Additives business. Andrew Tarvin of Tarvin Commercial Real Estate Services represented Momentive. John Cunningham of JLL represented the landlord.
Urban Electric Power, Inc., a battery company, renewed its lease for 36,048 rentable square feet of manufacturing space.
Auro Vaccines, LLC, renewed its 17,500 square feet of laboratory space. Auro Vaccine is a clinical-stage vaccine development company engaged in the design and development of preventive and therapeutic vaccines for infectious diseases. Andrew Tarvin of Tarvin Commercial Real Estate Services represented Auro Vaccines.
Olaplex, Inc. expanded its footprint and renewed its 4,537 square feet of laboratory and office space. Olaplex is a technology-driven beauty company. Rob Lella of Colliers represented the landlord.
The Hudson Valley iCampus is a 2-million-square-foot, mixed-use, multi-tenanted property on 207 acres at 401 North Middletown Road in Pearl River and is owned by Industrial Realty Group, LLC. The complex was formerly owned by Pfizer, which sold the property to IRG in 2015. IRG owns more than 100 million square feet in 31 states. The property is managed by IRG’s wholly owned affiliate, IRG Realty Advisors, LLC.