Seattle, Washington — January 26, 2006 —Colliers International’s Advanced Technology Real Estate Group (ATREG) based in Seattle, Washington has successfully assisted IBM in the sale of their million square foot corporate office/R&D campus 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 1 million square feet (SF) 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 wastewater pre-treatment plant, a cafeteria, a 400-seat auditorium and breakout rooms.
Stephen Rothrock, Senior Vice President and Managing Director of ATREG states: “IBM’s West Campus is a highly flexible campus that includes undeveloped parcels for future expansion. There is advanced infrastructure including significant power, water, and air to meet manufacturing or data center requirements.”
“Preferred has the resources, vision and experience to create a strong redevelopment here. They specialize in converting former industrial plants into mixed-use projects and identified that the IBM campus is uniquely suited for advanced technology manufacturing as well as corporate headquarters, lab and data center,” adds Doug Barrett, Senior Vice President and Associate Director of ATREG.
The West Campus is located 60 miles from New York City and is part of the larger 6 million square foot Hudson Valley Research Park -- 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.