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McGrath Realty announced that the former IBM facility in Kingston, which was first built in the 1950s, is up for sale, “offering plenty of opportunities” for a potential buyer.
“The property was built in the 1950s by IBM,” realtors said. “What IBM built and left behind is a level of infrastructure that would be difficult to replicate and that is more than sufficient for any contemporary use.
“The site’s ample supply of power, water, fiber communications trunks, and other industrial-grade features have continued to attract a diverse mix of occupants under its current owner.”
Realtors noted that the property already has an approved master plan that could be used for office, industrial, education, hospitality, agricultural, technology, retail, residential, or recreational use.
“The design will allow companies’ corporate identities to be visible and well-defined,” the listing states. “The property owners have invested in the site and there is strong support for this plan from the community’s political leadership.”
The Town of Ulster is acting as the lead agency and has already agreed to an expedited approval process for future build-outs, making this location a “shovel-ready site.” It was last remodeled in 2012.
Potential uses, according to the realtors, include:
- Production and Distribution;
- Culinary Arts Center;
- Clean Energy, Destination Development;
- ECO-Village;
- Distribution, Manufacturing / Light Industrial;
- Commercial Manufacturing;
- Hotel, Office / Back Office;
- Medical Center;
- Technology Center;
- Conference Center;
- Telecom building;
- Campus for Institutional or Educational Use;
- Big Box Retail;
- Retreat;
- Hospitality Use;
- Entertainment Venue;
- Senior-Housing;
- Assisted Living;
- Dormitory Housing;
- Multi-Story Housing Development;
- Planned Mixed-Use Community;
- Sports Complex;
- Training Arena;
- Any High-Security Level Requirement;
- Data Centers.
More than 1.7-million-square-feet of building space is available at the site, which borders I-87 and is approximately an hour and a half from New York City, or 60 minutes to Albany.
“The property has excellent access to markets throughout the Northeast, in proximity to the NYS Thruway, Stewart Airport, and with its own rail link and helipad,” officials said. “Also, it has easy vehicular access from 9W, 9G, and Route 209, the site lends itself to any type of business. Located 500 feet above the flood plain, the property is high, dry, and flat.”
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