Portfolio grows to 46 million square feet in 28 states
ENDICOTT, NY, September 30, 2021 / PRNewswire / – A subsidiary of Phoenix Investors (“Phoenix“) announced the acquisition of a 29-building multi-building complex encompassing 130 acres commonly referred to as IBM’s birthplace. The former IBM campus comprises approximately 4,000,000 square feet in Endicott, NY. The group of buildings, generally encompassing the city center Endicott is today known as the Huron Campus, an industrial, R&D and office campus and an area of opportunity for the greater Binghamton area in new York.
Nicknamed the “Valley of Opportunity” in the late 1800s, the world’s largest Binghamton the region preserves a history and a culture still rich in links with the industrial revolution; today it serves as a valuable hub for the various markets in the region. In addition to exceptional commercial quality, the Huron Campus also benefits from the proximity of Binghamton University (SUN) and SUNY Broome Community College as well as convenient access to the Erie Canal, New York City, Buffalo, Rochester, Scranton, Syracuse, and both the Pennsylvania and Canadian borders. The best Binghamton the region’s industrial market is robust, as is the local labor market; major industries include manufacturing, engineering, technology, commerce and transportation, education and health services, recreation / hospitality, and the US government.
The Huron campus is the birthplace of IBM and was once exclusively occupied by the world-renowned company. IBM still maintains a presence on campus. IBM has made a massive financial investment in the campus over many decades, creating a very attractive infrastructure for industrial and office tenants, including an abundance of stable, low-cost energy, redundant waste treatment and others. structural, mechanical and process supports ideal for R&D or manufacturing use.
Two decades ago, a major local investment group acquired the campus and began the process of converting the campus to multi-tenant occupancy. This group has been successful in attracting a number of high quality companies to the campus, most notably BAE Systems. BAE Systems employs over 1,400 associates on campus in its business units. In total, more than 2,800 people are employed on campus, with significant new hires expected in the coming months.
Since the beginning of this year, Phoenix worked with the vendor to bring next generation business and technology to the Huron campus. Recent leases with high-tech companies Imperium3, a pioneer in lithium-ion batteries, and Ubiquity Solar, a leading solar company. It is estimated that the lithium-ion battery industry will achieve a market value of $ 93.1 billion by 2025. It is estimated that the solar industry will reach a market value of $ 200 billion by 2026.
Go forward, Phoenix plans to apply its disciplined approach to renovating and marketing and expanding the resort’s offerings through Phoenix Logistics to attract more tenants to campus. The resort offers a unique opportunity to provide tenants with a plethora 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 the arrival of our new clean and green tech companies in our village, we have a lot to look forward to. As mayor of Endicott, I want to give all the help we can give our new campus owners. We look forward to a long and equally beneficial working relationship! ”Said Endicott Mayor Linda jackson.
“It’s great to see that the local investments made in the former IBM Huron campus are paying off and generating interest and outside investment in this historic site. Endicott community, ”said the senator Fred akshar.
“Given its rich history and unique infrastructure, the Huron campus is positioned for incredible growth and opportunity,” said Franck Crivello, Phoenix Founder & President. “Over the next year, we will be renaming the campus to reflect its future and make significant capital improvements.
“We are delighted that the executives of Phoenix Investors are making a major investment in the acquisition of the Huron campus. Having a large real estate company focused on industrial real estate nationwide is expected to provide key strategic advantages for the campus and our tenants. Phoenix has a strong group of real estate professionals who will bring additional expertise to Endicott. I can’t wait to work with Phoenix to complete our two major project announcements, as well as to attract tenants and additional jobs! “said Chris Pelto, President of Huron.
“I am delighted that Phoenix Investors has made a commitment to revitalize IBM’s former campus in Endicott. They have extensive experience in transforming old industrial sites like ours into attractive corporate campuses. New and existing businesses, as well as the surrounding community, will benefit from this very positive development, ”said MP Donna Lupardo.
“This is a great opportunity to continue the growth of the Huron campus,” said Broome County Director. Jason garnar. “With their track record of revitalizing traditional manufacturing sites, we are delighted to be working with Phoenix build on the progress made in Endicott during the last years.”
“We are delighted to add the Huron campus to our growing portfolio,” said Antoine Crivello, Phoenix Executive Vice President. “With that comes a great group of talented professionals that we have welcomed into the Phoenix team. We will be working with local, regional and regional partners. New York State partners to attract additional quality tenants to the Campus.
About Phoenix Investors
Phoenix Investors is a national commercial real estate company based in Milwaukee, Wisconsin. Phoenix Affiliates hold interests in industrial, commercial, office, and single tenant properties covering approximately 46 million square feet in 28 states. Its core business is the revitalization of old manufacturing facilities through United States. This strategy leads to positively transforming communities and restarting the economic engine in the communities we serve.
For more information, please visit https://phoenixinvestors.com.
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SOURCE Phoenix Investors