New Frontier for Major Commercial Developer
The rapidly growing real estate market for life sciences space got a new player this week with the announcement by the Robert Martin Company (RMC) that it was expanding to meet needs of the life sciences/health tech industry.
The Elmsford-based commercial developer also announced that leading the effort will be Laurence Gottlieb, who was named Managing Director, Life Sciences and Health Technologies. Gottlieb is the former President and CEO of Hudson Valley Economic Development Corporation (HVEDC) and former head of the Westchester County Office of Economic Development.
“The seeds that were planted with the launch of the NY BioHud Valley initiative are now baring fruit throughout Westchester, if not the whole Hudson Valley – from the expanding incubator space at New York Medical College to the explosive growth of companies such as Regeneron Pharmaceuticals and Acorda Therapeutics,” stated Gottlieb. “Now is the right time to fuse together Robert Martin Company’s significant real estate development and management experience with a high-growth industry seeking locations for expansion beyond the early stage incubators spread throughout the tristate region. I’m truly honored to lead this effort for such a legendary company.”
RMC’s life sciences and health tech initiative will eventually embrace numerous components including RMC-owned properties networked together throughout the region, high-level educational offerings and eventually, an investment fund.
RMC CEO Tim Jones said, “Larry is a highly-respected economic development and community partner in Westchester County and the Hudson Valley. Using the expertise he has developed over many years, he has built a strong base for biotech and health tech development in the region upon which so much activity is happening. We are thrilled to provide him with the company’s extensive resources to take this job-generating industry to the next level.”
Robert Martin is the county’s largest commercial developer with over 6 million square feet of properties. Earlier this year the company made headlines with the its acquisition of Mack-Cali Realty Corporation’s 3.1 million SF industrial/flex portfolio for $487.5 million. It is the largest commercial real estate transaction in Westchester County history. Approximately 95 percent of the properties acquired by RMC are those that the company sold to Mack-Cali Realty Corporation in 1997. RMC developed most of the buildings from the 1970s through 1990s.
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