Seattle, Wash., January 26, 2006 – Colliers International’s Advanced Technology Resource Group (ATREG) based in Seattle, Wash. has successfully assisted IBM in the sale of their million square foot corporate office / R&D campus located in East Fishkill, New York. ATREG represented IBM in their sale to Preferred R.E. Investments, Inc. The purchaser plans to invest a substantial amount in the project with the ability to build an additional 600,000 square feet on the site.
The campus is nearly one million square feet in four main buildings on 160 acres and includes approximately 500,000 square feet of office, data, and call center space, as well as 400,000 square feet of manufacturing space, including operational manufacturing cleanrooms. Additional amenities include a nitrogen plant, bulk gas delivery facilities, a central utilities plant, a dedicated utility owned electrical substation, a waste water pre-treatment plant, a cafeteria, a 400-seat auditorium, and breakout rooms.
“IBM’s West Campus is a highly flexible site that includes undeveloped parcels for future expansion,” explains Stephen Rothrock, senior vice president and managing director of ATREG. “There is advanced infrastructure including significant power, water, and air to meet manufacturing or data center requirements.”
“Preferred R.E. Investments has the resources, vision, and experience to create a strong redevelopment here,” adds Doug Barrett, senior vice president and associate director of ATREG. “They specialize in converting former industrial plants into mixed-use projects and identified the IBM campus as uniquely suited for advanced technology manufacturing as well as corporate headquarters, lab, and data center.”
The West Campus is located 60 miles from New York City and is part of the larger six million square foot Hudson Valley Research Park that is home to advanced technology and related support companies. The facility is in an economic development (“Empire”) zone with possible New York State incentives. A core group of highly skilled and trained employees with experience in manufacturing operations, engineering, and building maintenance are located in the area.
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A semiconductor sales division of Colliers International, ATREG specializes in helping companies restructure advanced technology assets. Co-directed by Stephen Rothrock and Doug Barrett, ATREG has represented some of the semiconductor industry’s top companies in transactions totalling over U.S.$2 billion. ATREG advises on the sale of operational semiconductor fabs, wafer supply agreements, process and product intellectual property (IP), complete tool lines, and fab infrastructure. For more information, please visit us online at www.atreg.com.