PEARL RIVER – The Pfizer
campus in Pearl River has been purchased by Industrial Realty Group.
The company is buying 38 buildings of laboratory, pharmaceutical manufacturing,
office and support space. Pfizer will retain and operate 500,000 square
feet and leaseback 1.2 million square feet from IRG.
Aerial view of the expansive campus
Rockland Business Association President Al Samuels said the purchase
by IRG will put the campus back on the map and provide a significant boost
to the Rockland economy.
“IRG is a fine company that has a great track record of repurposing
similar sites. They have done very well in doing this in other locations
and we in the RBA have great expectation that they will bring a variety
of businesses with Rockland specificity,” Samuels said.
IRG CEO John Mase said the facility has “extensive potential.”
He said the company will “pursue redevelopment with opportunities
for retail, office, industrial and other commercial users.” He said
the company has already had “a wide range of tenants show interest
in the project.”
The campus dates back to 1907 with Dr. Ernst Lederle’s production
of diphtheria antitoxins. Throughout the years, vaccines for smallpox,
typhoid, and pneumonia were developed on the property.
