IRG’s Hudson Valley iCampus leases and renews 337,589 s/f

February 28, 2023 - Front Section

Pearl River, NY Hudson Valley iCampus, owned by Industrial Realty Group, LLC, (IRG), closed lease and renewal deals totaling 337,589 s/f on campus, with a value of more than $40 million. The transactions took place between August 2021 and 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.

Improvements can be seen throughout the 207-acre campus—from signage and infrastructure to roadways and security.

Some of the key transactions were:

• Pfizer, Inc., an American multinational pharmaceutical and biotechnology corporation, leased a total of 86,243 s/f 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 s/f 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 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 company that is revolutionizing the traditional alkaline battery (e.g., double A) by transforming it into a powerful rechargeable battery, renewed its lease for 36,048 s/f of manufacturing space.

•Auro Vaccines, LLC, renewed its 17,500 s/f of laboratory space. Auro Vaccine is a clinical-stage vaccine development company pioneering a major evolutionary step 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 s/f of laboratory and office space. Olaplex is an innovative, science-enabled, technology-driven beauty company. Rob Lella of Colliers represented the landlord.

Hudson Valley iCampus is a two million s/f, mixed-use, multi-tenanted property on 207 acres at 401 North Middletown Rd.

The property is centrally located in the Hudson Valley and close to dining, shopping and entertainment options, with easy access to train stations, the Mario Cuomo Bridge, New York State Thruway, and is within 24 miles of Manhattan. The property has a history of breakthrough vaccines developed on its grounds including vaccines for smallpox, typhoid, polio and more. Now, with its prestigious tenant roster of companies such as Pfizer, Inc., Sanofi US Services, Inc., Momentive Performance Materials and Auro Vaccines, LLC, it is one of the top destinations in the New York tri-state area for life sciences, biomed, manufacturing, and warehouse tenants. Hudson Valley iCampus is owned by Industrial Realty Group, LLC, (IRG), nationally recognized as a leading force behind the adaptive reuse of commercial and industrial real estate solving some of America’s most difficult real estate challenges. IRG owns more than 100 million s/f in 31 states.

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