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Posted: March 1, 2016
Industrial Realty Group finalizes purchase of 200-acres of Pearl River Pfizer campus – 2 million s/f
Aerial, Pfizer campus - Pearl River, N.Y.Pearl River, NY Industrial Realty Group, LCC (IRG), has purchased 2 million s/f and 200 acres of the Pfizer campus, located 20 miles north of Manhattan. The early stages of IRG’s plan for the site envisions a dynamic mixed use, multi-tenant campus, which will bring businesses and job opportunities to Rockland County.
“We are thrilled to redevelop this impressive campus into an environment where businesses can prosper in Rockland County,” said Stuart Lichter, president of IRG. “Our goal is to replicate the same type of success we have created at properties across the country in the community of Pearl River. We look forward to working with the County to develop a renewed vision.”
IRG will be purchasing 38 buildings of laboratory, manufacturing, office and support buildings. Pfizer will retain and operate 500,000 s/f and lease back 1.2 million s/f from IRG. Pfizer will continue their presence in the area.
As local community and business supporters, IRG’s goal is to encourage economic growth in Rockland County and the neighboring communities, retaining the historical value of the property and laying out a new vision for the campus in the months ahead.
IRG is a nationwide real estate development and investment firm specializing in the acquisition, development and management of commercial and industrial real estate throughout the U.S. IRG, through its affiliated partnerships and limited liability companies, operates a portfolio containing over 100 million square feet space. IRG is nationally recognized as a leading force behind the adaptive reuse of commercial real estate, solving some of America’s most difficult real estate challenges.
Leasing at the Pearl River Project
The Pearl River Project is a campus with a mix of office, R&D, manufacturing, data center and warehouse space, located on 200 acres of property. The campus would allow opportunities for a mix of science, technology, educational and other businesses.
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