Regeneron Acquires Pitney Bowes Building in Rensselaer Tech Park
Monday, June 27, 2016
Source: Albany Business Review
Regeneron Pharmaceuticals has acquired the 217,000-square-foot former headquarters of home-grown software mapping company MapInfo for $17.75 million.
The drug developer bought the four-story office building in the Rensselaer Technology Park in North Greenbush, New York from Pitney Bowes. The Stamford, Connecticut-based mailing, mapping and shipping products manufacturer has operated out of the Rensselaer Tech Park since it acquired MapInfo for $408 million in 2007.
Regeneron (NASDAQ: REGN), headquartered in Tarrytown in Westchester County, is continuing its aggressive expansion in Rensselaer County. The company has increased its workforce in the region from 439 at the end of 2011 to more than 1,400. The majority of those employees work at Regeneron's manufacturing complex in East Greenbush.