DUTCHESS COUNTY, N.Y. - National Resources (NRE) has acquired the former IBM East Campus in Fishkill. NRE is taking ownership of 300 acres of land with 2 million square feet of buildings from GlobalFoundries.
The campus is set to become one of NRE’s signature Park’s, a branded mixed-use tech/flex redevelopment with retail, hotel and residential components.
GlobalFoundries, with 2,500 employees, will continue to own 160-acres where it manufactures the 300 mm wafer and will lease several buildings from NRE. IBM and eMagin will lease offices, laboratories and clean rooms keeping the tech heart of the park in place. Several high bay spaces are to be leased to new users and high cube build-to-suit warehouses have been designed for distribution and fulfillment centers seeking the direct access to I-84 and New York City at this location.
Dutchess County Executive Marc Molinaro said he was "excited" by Global Foundries' transfer of ownership of the unused land and buildings in East Fishkill formerly used by IBM to National Resources.
Molinaro said the move "frees GlobalFoundries from the burden of real estate development and allowing them to focus on their core mission: semiconductor manufacturing.
"National Resources is a specialist developer focused on redevelopment of corporate and industrial sites," he added. "They’ve redeveloped more than $1 billion of projects, including iPark in Yonkers. Thanks to the hard work of the Town of East Fishkill, GlobalFoundries and National Resources, we will soon see big things happening on this site.
"Th!nk Dutchess Alliance for Business will work hand-in-hand with National Resources to attract commercial, industrial and mixed-use development to the site.”
Over the past six months, NRE has been working with Molinaro and his office, Think Dutchess Alliance for Business, the Town of East Fishkill and Empire State Development prepare the site with the suitable zoning and parcel subdivision in order to secure users for its new commercial, industrial and mixed-use facilities.
Joseph Cotter, President of NRE and Lynne Ward, Executive Vice President, are striving for another success to compliment their fully leased portfolio of iParks in the NY/CT metro area. NRE is a specialist real estate development and investment firm that focuses on the redevelopment of corporate industrial sites and is best known for its landmark water-front residences and innovative iParks. These branded i.Parks take full advantage of infill locations accessible to commercial centers and transportation nodes. Current and past projects include iPark Hudson in Yonkers, New York; iPark Norwalk in Norwalk, CT and iPark Lake Success in Long Island, NY.
“The business plan is to take advantage of the $1 billion in infrastructure that currently exists at the site and provide new warehouse distribution opportunities in the I-84 corporate growth corridor. The skilled workforce in the area should be a major attraction for employers,” according to Joseph Cotter
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