Hudson Valley iCampus Signs New Lease with Strides Pharma, Inc., with Positive Leasing Velocity Expected to Continue in 2023

Hudson Valley iCampus, New York’s premier research and innovation hub in the Hudson Valley, is happy to announce that it has signed a new lease with Strides Pharma, Inc., consisting of 57,197 square feet for chemical storage. The lease includes the entirety of buildings 170 and 170B on the 207-acre campus in Pearl River. Building 170 is a 28,000-square-foot warehouse building with such features as 22’ clear heights, a large chill room and 10 loading docks. Building 170B is a connected 35,000-square-foot high bay warehouse featuring 55’ clear heights.

Strides Pharma, Inc. specializes in soft-gel capsules (SGC), oral solids, modified releases, topicals and liquids. It also produces high competition products with benefits of a fully integrated value chain.

James F. Schroeder of Jones Lang LaSalle represented Strides Pharma, Inc. Robert Lella, Sheena Gohil and Charles Hatfield of Colliers International and Jamie Schwartz, President of Hudson Valley iCampus, represented ownership.

“We are pleased that we were able to complete this lease transaction with Strides and sincerely thank everyone who was involved in making it happen. Our negotiations started at a time when there were genuine fears of a long recession and other economic headwinds,” said Schwartz.

“Despite the slowdown in leasing for other types of commercial real estate, we continue to have a strong pipeline of lease deals, some of which are also close to being signed.”

About Hudson Valley iCampus: Hudson Valley iCampus is a 2 million-square-foot, mixed-use, multi-tenanted property on 207 acres located at 401 North Middletown Road in Pearl River, N.Y. The property is centrally located in the Hudson Valley and close to dining, shopping, and entertainment options, with easy access to train stations, the Mario M. Cuomo Bridge, New York State Thruway, and is within 24 miles of Manhattan. The property has a long history of breakthrough vaccines developed on its grounds including vaccines for smallpox, typhoid, polio and more. As evidenced by its current prestigious tenant roster of companies such as Pfizer, Inc., Sanofi US Services, Inc., Momentive Performance Materials, Auro Vaccines LLC and Strides Pharma, Inc., it has become one of the top destinations in the New York Tri-State area for life sciences, bio med/tech, manufacturing, and warehouse tenants. Hudson Valley iCampus is owned by Industrial Realty Group, LLC, (IRG), nationally recognized as a leading force behind the adaptive reuse of commercial and industrial real estate solving some of America’s most difficult real estate challenges. IRG owns more than 100 million square feet in 31 states. The property is managed by IRG’s wholly owned affiliate, IRG Realty Advisors, LLC. For information, contact Jamie Schwartz at jschwartz@hvicampus.com or visit www.hvicampus.com

photo caption: aerial elevator loading dock