JLL announced it has been exclusively retained to market 1 Avon Place, a 235,000-square-foot Class A research and development (R&D) facility in Suffern, for sale or lease. The property is being offloaded by Tarrytown-based biotech giant Regeneron Pharmaceuticals, which recently pivoted away from plans to transform the site into a major laboratory hub.
The listing follows Regeneron’s strategic decision in late 2025 to cancel its planned $139 million renovation. Despite acquiring the property for nearly $39 million in December 2023, the firm opted to consolidate its growth at its primary Westchester County campuses in Tarrytown and Greenburgh rather than expand into Rockland County.
The three-story facility, famously known as the former global innovation center for Avon Products, is considered a “unicorn” in the regional real estate market due to its specialized infrastructure. JLL experts believe the site is a prime candidate for life sciences, healthcare, or data center conversion.
- Lab Ready: 34 fume hoods, DI water, compressed air, and vacuum systems.
- Technical Ops: Microbiology and analytical labs with natural gas to bench tops.
- Power & Resilience: Dual 900-ton chillers, 4,000 amps of power, and a 750-kilowatt emergency generator.
- Capacity: 75,000-square-foot floor plates and 565 parking spaces on a 10-acre gated campus.
Located just 30 minutes from New York City, 1 Avon Place sits at the intersection of I-287, the New York State Thruway, and Route 17. Its proximity to downtown Suffern and the Suffern NJ Transit station (less than half a mile away) adds a “live-work-play” element that is increasingly rare for industrial R&D assets.
“Properties of this scale and quality rarely come to market in Rockland County,” said Dan Loughlin, Vice Chairman at JLL. “Whether for an owner-user seeking an R&D environment or an investor pursuing conversion to healthcare or a data center, this asset provides multiple paths to execution.”
Regeneron’s exit was met with disappointment from local officials, who had anticipated the creation of 230 high-paying jobs. However, the move has also sparked a “clawback” process by the Rockland County Industrial Development Agency (IDA) to recapture millions in tax incentives previously granted to the pharma company.
Suffern Mayor Michael Curley noted that while Regeneron’s reversal was a business decision, the village is hopeful for a new buyer who might bring an even larger workforce—recalling the era when Avon employed 1,500 people at the site.
The marketing team at JLL, led by Dan Loughlin, Jeremy Neuer, and Matt Loughlin, noted that investor demand for life science assets remains high in 2026, driven by a rebounding IPO market and a push for domestic R&D capacity.
