Thursday, 13 January 2022 14:59

Malta Tech Park up for Sale Again

By Jaynie Ellis | Business
Photo by Super Source Media. Photo by Super Source Media.

MALTA — NYSERDA has put the Saratoga Technology Energy Park back on the market; the last time it was up for sale was an auction in 2017. 

The New York State Energy Research and Development Authority (NYSERDA) is again trying to sell the 280-acre Saratoga Technology Energy Park (STEP).  Instead of an auction, they are working with CBRE Albany, the Capital Region’s largest real estate brokerages, to list the property on their behalf.

The listing shows that the property at 0 Hermes Road is for sale for $12 million. GlobalFoundries has an option on 65 acres for a new fab and expanding the capacity at their current facility. Additionally, four buildings occupy 17.6 acres; three of the four NYSERDA has leased to Hudson Valley Community College, the United Group of Companies, and Jersen Construction. That leaves roughly 198 acres of “certified shovel-ready, light industrial/professional office/research and development land.” 

STEP is a part of the Luther Forest Technology Campus that houses the GlobalFoundries chip fab plant and new headquarters, relocated from Santa Clara, CA in April 2021. NYSERDA states that the location of STEP, “located in the heart of New York’s Tech Valley,” is what makes the property desirable for clean-energy and environmental technology companies.

Read the full story on Saratoga Business Report:

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