Phoenix Investors expands portfolio with the acquisition of the historic campus in Endicott, New York
Portfolio grows to 46 million square feet in 28 states
ENDICOTT, NY, September 30, 2021 / PRNewswire / – A Phoenix Investors Affiliate (“Phoenix“) announced the acquisition of a 29-building, 130-acre, multi-building complex commonly known as the birthplace of IBM. The former IBM campus is approximately 4,000,000 square feet in Endicott, NY. The collection of buildings that generally encompasses the city center Endicott is now known as the Huron Campus, an industrial, R&D, and office campus and an opportunity zone for the grown-ups Binghamton Area in new York.
Referred to as the “Valley of Opportunities” in the late 1800s, the greater Binghamton The area has a history and culture that is still rich in links to the Industrial Revolution; Today it serves as a valuable hub to the diverse markets in the region. In addition to exceptional commercial quality, the Huron Campus also offers proximity to Binghamton University (sunny) and SUNY Broome Community College as well as convenient access to the Erie Canal, New York City, buffalo, Rochester, Scranton, Syracuse, and both Pennsylvania and Canadian borders. The bigger Binghamton the region’s industrial market is robust, as is the local labor market; Major industries include manufacturing, engineering, technology, trade and transportation, education and health services, recreation / hospitality, and the US government.
The Huron Campus is the birthplace of IBM and was once inhabited exclusively by the world-famous company. IBM is still present on campus. IBM has invested heavily in the campus over many decades to create an infrastructure that is highly attractive to industrial and office tenants, including an abundance of stable, inexpensive power supplies, redundant waste treatment and other structural, mechanical and process support that is ideal for Use R&D or manufacturing.
Two decades ago, a prominent local investment group acquired the campus and began converting the campus to multi-tenant occupancy. This group managed to attract a number of high-profile companies to the campus, most notably BAE Systems. BAE Systems employs over 1,400 people in its divisions on campus. A total of over 2,800 people are employed on campus, with significant new hires planned for the coming months.
The story goes on
Since the beginning of this year, Phoenix worked with vendor to bring next-generation companies and technology to the Huron campus. Recent leases with the high-tech companies Imperium3, a pioneer in the field of lithium-ion batteries, and Ubiquity Solar, an innovative company in the solar field. It is estimated that the lithium-ion battery industry has a market value of $ 93.1 billion by 2025. The solar industry is expected to have a market value of $ 200 billion by 2026.
Go forward, Phoenix plans to apply its disciplined renovation and marketing approach and add Phoenix Logistics to the complex’s offering to attract additional tenants to the campus. The complex offers a unique opportunity to offer tenants a wealth of amenities at an affordable price.
“The Endicott village has been industrial for over 100 years when Mr. Johnson built the village around his shoe factory and tanneries. With our new, clean and green tech companies coming to our village, we have a lot to look forward to. As Mayor of Endicott, I want to give our new campus owners all the help we can. We look forward to a long and equally beneficial collaboration! “Said Endicott Mayor Linda Jackson.
“It’s great to see the local investment in the former IBM Huron campus paying off and generating external interest and investment in this historic location. Instead of looking back nostalgically, announcements like this make me excited to look into the future of our company Endicott Community, “said Senator Fred Akshar.
“Given its rich history and unique infrastructure, the Huron campus is positioned for incredible growth and opportunity,” said Frank Crivello, Phoenix’s Founder & Chairman. “Over the next year we will be renaming the campus to reflect its future and make significant capital improvements.”
“We are delighted that Phoenix Investors’ clients are making a significant investment in the acquisition of the Huron Campus. A large real estate company with a core focus on industrial real estate of national size should bring crucial strategic advantages to the campus and our companies tenants. Phoenix has a strong group of real estate professionals who will bring additional expertise Endicott. I look forward to the cooperation Phoenix to complete our two major project announcements and to gain additional tenants and jobs! ” Chris Pelto, Huron’s President.
“I am delighted that Phoenix Investors has committed to revitalizing the former IBM campus in Endicott. They have extensive experience in converting old industrial locations like ours into attractive company locations. New and existing companies, along with the surrounding community, will benefit from this very positive development, “said Assemblywoman Lupardo woman.
“This is a great opportunity for further growth on the Huron campus,” said Broome County Executive Jason Garnar. “With their track record in revitalizing existing manufacturing facilities, we look forward to working with Phoenix to build on the progress made Endicott in recent years.”
“We are excited to add the Huron Campus to our growing portfolio,” said Anthony Crivello, Phoenix’s Senior Vice President. “This brings a large group of talented professionals who we welcome to the Phoenix team. We’ll be with local, regional and New York State Partner to win more high-quality tenants for the campus. “
About Phoenix Investors
Phoenix Investors is a national commercial real estate company based in Milwaukee, Wisconsin. Phoenix’s Affiliates have interests in industrial, retail, office, and retail net-lease properties in approximately 46 million square feet in 28 states. The core business is the comprehensive revitalization of former production facilities The United States. This strategy leads to a positive change in the communities and the economic engine in the communities in which we operate again.
Further information is available at https://phoenixinvestors.com.
View original content: https://www.prnewswire.com/news-releases/phoenix-investors-expands-portfolio-with-the-acquisition-of-historic-campus-in-endicott-new-york-301389436.html
SOURCE Phoenix investors