Developers and employees at the Cornell Business and Technology Park are preparing for impending construction of three buildings. The addition of 157,000 new square feet of space to the existing 577,000 square feet will attract new businesses while providing space for current tenant companies to expand, business park leaders claim.
“It’s a step forward,” said John Majeroni, director of University real estate. “There is no space available in the park now.”
The park is located approximately three miles from the Cornell campus at the intersection of Warren Road and Route 13, adjacent to the Tompkins County airport. Established in 1951, the tech park provides an environment for local, national and international office and research firms and an interface between the University and business community.
“It performs a vital function in the [local] economy, providing a very attractive work environment for many employers who seek to expand within Tompkins County,” said Tom Colbert, a general manager of Integrated Acquisition and Development, a real estate development and management firm which operates commercial properties.
There are currently 88 companies providing 1,500 jobs in the 22 buildings at the Park. Many of the companies are technology-based and conduct research with the University.
The first building is 92,000 square feet. Of this space, 72,000 square feet is spoken for by businesses, while 20,000 square feet is available.
“The 20,000 square feet left in the building will allow leasing to smaller companies which we desperately need,” Majeroni said.
The second building, 25,000 square feet, is located at Thornwood Drive. Across the street, the third building, 40,000 square feet, will contain laboratories and clean rooms, aiming to serve technological companies. Site approval for this building, however, has not yet been obtained from the Village of Lansing, the municipalities in which the building would be located.
The space in the three buildings will eventually be occupied by eight tenants, providing 300 to 350 new jobs, according to Colbert.
“I think it will provide very strong employment opportunities for the residents of Tompkins County and allow existing employers to stay in the area and not be forced out of the county for growth they are experiencing,” Colbert said. “We are more effective in starting businesses than attracting businesses, so the chief challenge we face is to keep businesses that start in the county and not have them move out.”
Archived article by Anastasia Handy