Pfizer Expands With 151K SF at Hudson Valley iCampus
Combined rents valued at more than $16 million
By Greg Cornfield August 24, 2023 11:10 am
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Biopharmaceutical giant Pfizer is growing its footprint at Industrial Realty Group’s Hudson Valley iCampus in Rockland County, New York.
Pfizer is expanding at the life sciences and biotech campus after signing for 151,065 square feet of manufacturing, laboratory, warehouse and office space in multiple buildings, Industrial Realty Group announced. The combined annual rents have a value in excess of $16 million.
Pfizer will use the space for its PGS division, which produces commercial antibody drug conjugates for Pfizer’s oncology business with clinical scale capabilities.
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, N.Y., about 24 miles north of Manhattan. Tenants include Pfizer, Sanofi US Services, Momentive Performance Materials, Auro Vaccines and Strides Pharma.
Last year, Pfizer announced that it will invest $470 million to build a state-of-the art laboratory and office building on a portion of a 23-acre parcel it owns for its vaccine research and development division. That parcel is contiguous to Hudson Valley iCampus and will be an expansion of Pfizer’s existing laboratory, office and meeting spaces there.
Jamie Schwartz, president of Hudson Valley iCampus, represented ownership in Pfizer’s expansion. Warren Braverman, a senior managing director at Cushman & Wakefield (CWK), represented Pfizer.
Gregory Cornfield can be reached at gcornfield@commercialobserver.com.
