ORANGETOWN, N.Y. -- Pfizer's business park will shrink to 25 acres following the sale of 200 acres of its property to a real estate group, according to lohud.com.
There are about 1,300 Pfizer employees in Pearl River, that should remain at that location until at least June. After that the company plans to keep up to 600 jobs onsite after 2017, said lohud.com.
The California-based Industrial Realty Group that purchased the property, plans to create a campus that will be 2 million square feet and have about 38 buildings including laboratory, pharmaceutical manufacturing, office and support space, reported lohud.com.
A preliminary agreement to sell the property was announced in May. According to Susan Rutledge, Pfizer's spokeswoman, the company will retain its research and development facilities at the Middletown Road site, as well as undeveloped land on the property, added lohud.com.
County Executive Ed Day said he supported IRG's plan to repurpose the property, and was relieved that Pfizer would keep hundreds of jobs at the site, said lohud.com.
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