ENDICOTT, NY – The Huron Campus in Endicott has been sold to a Milwaukee-based industrial real estate company.
A group of local investors has sold the former IBM factory complex to Phoenix Investors for 31 million dollars.
The birthplace of IBM includes 29 buildings spread across 130 acres in the village.
Currently, over 28 hundred people are employed by the tenants including BAE Systems, IBM and more.
The complex has a total of 4 million square feet of interior space.
Phoenix has offered to retain much of the Huron staff, including Senior Vice President Chris Pelto who will continue to oversee day-to-day operations.
Phoenix Founder and Chairman Frank Crivello says his company’s core focus and expertise is in redeveloping large scale industrial campuses.
Crivello says that while significant renovations will be made to the buildings, including improvements to the facades, the structures themselves are sound.
“The fact that the bones of it are as strong as they are, we’re really quite excited about the opportunity they provide to continue to attract high-quality companies. Chris and his team have done a remarkable job of attracting high-quality comapnies there,” says Crivello.
Crivello says Phoenix has been working with the current owners since earlier this year to attract new tenants, including lithium-ion battery maker Imperium 3 and solar panel manufacturer Ubiquity Solar.
And he says Phoenix is well aware of the history of environmental contamination at the site.
Crivello credits IBM for its work in remediating the toxic plume.
“As we look at future uses of the property, we will always be mindful of responsible practices by our tenants to ensure that there aren’t those sort of issues in the future,” says Crivello.
Crivello says a name change will be announced at an official ribbon cutting in the Spring.
Phoenix says it believes some of the former IBM buildings that have sat vacant at the Northeast corner of North and McKinley since 2007 might be salvageable.
Crivello says the potential for tenants to develop research partnerships with Binghamton University and our area’s supply of highly-skilled workers were 2 very attractive factors in their interest in the site.