Five Firms Sign Lease Deals at Hudson Valley iCampus

PEARL RIVER—The ownership of the Hudson Valley iCampus, the former headquarters of Pfizer, announced recently three new lease deals and two expansion transactions totaling 35,124 square feet of space. The deals had an aggregate value of more than $4 million.

“Many of the deals were for laboratory uses,” said Jamie Schwartz, President of Hudson Valley iCampus. “Although the headlines report Life Sciences and Biotech investments slowing due to high interest rates and other factors, we continue to experience brisk leasing activity from both large and small companies.”

Hudson Valley iCampus officials attribute the property’s success to having “plug and play” laboratory, manufacturing, and support space available for immediate occupancy. For example, Building 205, a 125,000-square-foot, tenant-ready laboratory building, was 40% leased two years ago, and now is 100% leased. Schwartz anticipates this ‘brisk” leasing activity to continue in 2024.

Transactions:

RK Pharma, Inc., an American multinational pharmaceutical and biotechnology corporation that focuses on the development, manufacturing and sale of high quality and affordable generic pharmaceutical products worldwide, leased an additional 22,584 square feet of stability chamber space in Building 100. RK Pharma also leases 82,975 square feet of laboratory, manufacturing, and office space in Buildings 215 and 215A.

Allied Health Management Service Organization, LLC, a healthcare company that focuses on the advancement of proton therapy, leased 5,677 square feet of laboratory space in Building 205. Michael Baraldi of Cushman Wakefield represented the tenant. Robert Lella of Colliers International represented Hudson Valley iCampus in the deal.

Avon Products, Inc. leased 4,719 square feet of laboratory and office space in Building 205. Avon recently sold its 235,000 square-foot, 10-acre Avon Innovation Center to Regeneron Pharmaceuticals. Robert Lella of Colliers International represented Hudson Valley iCampus in the transaction.

Armistead Mechanical, Inc., an industrial piping contractor and one of the largest employers of plumbers and pipefitters in New Jersey and the New York Hudson Valley region, leased 1,468 square feet of shop space in Building 205.

Olaplex Inc., an independent hair care brands company, continued to expand its footprint in Building 205 to 11,612 square feet of laboratory and office space by adding 676 square feet.

Hudson Valley iCampus is a 2-million-square-foot, mixed-use, multi-tenanted property on 207 acres. Its tenant roster includes:  Pfizer, Inc., Sanofi US Services, Inc Olaplex, Inc., Avon Products, Inc., Strides Pharma. Inc. and others. Hudson Valley iCampus is owned by Industrial Realty Group, LLC, which owns more than 100 million square feet in 33 states. The property is managed by IRG’s wholly-owned affiliate, IRG Realty Advisors, LLC.