CDC to market Pfizer property
PLATTSBURGH — The owners of the former Pfizer property in Rouses Point are turning to a local company for marketing help.
CDC Real Estate of Champlain will market it for ERS Investors Inc., the new owners who acquired the property last November.
"We are very pleased to partner with ERS," CDC President Matt Boire said.
"The prospect of working with a company who is so committed to helping our local economy and revitalize the industrial backbone of New York state is very exciting. We are looking forward to working with ERS in redeveloping the property and finding tenants who can best strengthen the industrial base of the region."
ALL THE INGREDIENTS
Founded by Boire and Mark Barie, CDC specializes in commercial real estate in Upper New York state.
They have developed an outstanding reputation for attracting Canadian investors and tenants seeking to take advantage of the financially robust New York-Canadian corridor and gain a foothold in the United States, according to a news release.
Clinton County Legislature Chairman Harry McManus (D-Area 1, Champlain) said CDC is a good choice.
"They have done a lot of great things here, and we are hopeful that this is a step in the right direction in terms of development of this property," he said.
"That property has all the ingredients to make it attractive: close to the interstate, rail, water and sewer and affordable electricity. The ultimate prize will be jobs for the region."
David Kreutz, vice president of economic development at ERS, said CDC's record attracted them.
"Over the last 25 years, CDC has leased or sold millions of square feet to a variety of industrial users while working with the North Country Chamber of Commerce and the state, as well as the Montreal Board of Trade," Kreutz said.
"They have forged special relationships in Montreal and Quebec that afford them the ability to introduce business owners aligned with our vision — forward thinking companies who are prepared to capitalize on our 'onsite' rail connections linking Rouses Point to New England and beyond while simultaneously taking advantage of some of the lowest energy costs in the United States."
Kreutz said the property has great value.
“Superior infrastructure, local government and agency commitment allow this unique property, nestled in the quaint Village of Rouses Point and on the shores of Lake Champlain, (to provide) a marvelous opportunity for manufacturing, data centers, warehousing, inter-modal distribution facilities, high-bay storage and hydroponic growing facilities,” he said.
ERS Investments Inc. is a privately held, New York City-based real estate development firm focused exclusively on acquiring underutilized, distressed and environmentally challenged industrial real estate.
The Pfizer property features 35.61 acres, including several buildings, most of which will be razed to make way for new use.
It is assessed at $1,068,300.
The property used to house Wyeth Pharmaceuticals, which announced its closure in 2005.
The facility was supposed to be shut down sometime in 2007, but a delay was followed by news of a sale to Akrimax, a fledgling drug manufacturer.
In 2009, Pfizer bought out all of Wyeth and leased some space from Akrimax.
In June of 2011, Pfizer exercised an option to take back the Rouses Point plant from Akrimax, but the number of remaining employees dwindled over time.
Pfizer shut down operations in early 2018 and began removing equipment from some of the buildings.
MOVING VERY QUICKLY
ERS said in November that the property remediation would take about a year.
"The ERS team is moving very quickly to fully learn the market opportunities and engage local partners, which is very good to see," Garry Douglas, president of the North Country Chamber of Commerce said.
"They have met with us at the chamber several times already. We look forward to working with ERS and now CDC as well to help move toward a positive future for the former Pfizer site."
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