Milwaukee-based commercial real estate firm Phoenix Investors has acquired the Huron Campus in Endicott, New York. The purchase price was not disclosed.
The Huron Campus, commonly known as the birthplace of IBM, is a multi-building complex comprising 29 buildings and encompassing 130 acres in the greater Binghamton area.
“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 rebrand the campus to reflect its future and make significant capital improvements.”
“We are delighted to have the principals of Phoenix Investors make a major investment in the acquisition of the Huron Campus. Having a large real estate company with a core focus on industrial real estate with national scale should provide key strategic benefits for the campus and our tenants. Phoenix has a strong group of real estate professionals who will bring additional expertise to Endicott. I look forward to working with Phoenix to complete our two major project announcements, as well as bringing in additional tenants and jobs!” said Chris Pelto, Huron’s President.
“We are excited to add the Huron Campus to our growing portfolio,” said Anthony Crivello, Phoenix’s Executive Vice President. “With it comes a large group of talented professionals that we have welcomed to Team Phoenix. We will work with local, regional, and New York State partners to attract additional high-quality tenants to the campus.”
Two decades ago, a prominent local investment group acquired the campus and began the process of converting the campus to multi-tenant occupancy. This group was successful in attracting a number of high-quality companies to the campus, most notably, BAE Systems.
BAE Systems employs over 1,400 associates at the campus across its business units. In total over 2,800 people are employed on the campus, with significant new hires planned in the coming months.
Since early this year, Phoenix collaborated with the seller to attract next generation companies and technologies to the Huron Campus. Recent lease agreements with high-tech firms Imperium3, a pioneer in the lithium-ion battery space, and Ubiquity Solar, a cutting-edge firm in the solar space.