PEARL RIVER, N.Y. (CBSNewYork) — Pfizer is selling a big chunk of its property for redevelopment in Rockland County.
The pharmaceutical corporation has sold 200 acres of its campus in Pearl River to a California real estate group that is planning a mixture of retail, office and continued laboratory facilities for the site.
Pfizer will hold on to 25 acres, keep 600 out of 1,300 jobs on site, and continue to manufacture oncology drugs, WCBS 880’s Sean Adams reports.
Rockland County Executive Ed Day is pleased with the deal.
“We were concerned about Pfizer leaving us and to watch the repurposing and redevelopment of the property while maintaining a tax base here is very positive,” Day said.
Still to be determined in court is the case of one of the tenants, Anellotech, a petrochemical company some residents fear will impact air quality and public health. The company says its planned operations are safe.