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EAST FISHKILL, NY-Preferred Real Estate Investments, Inc., whichpurchased the Hudson Valley Technology Campus from IBM in February2006, has hired CB Richard Ellis as exclusive leasing and salesagent for the Dutchess County property here. The Conshohocken,PA-based firm paid $20 million for the nearly one-million-sfcomplex and signed a short-term leaseback with IBM in early2006.

The complex, which had been known as the Hudson Valley ResearchCenter West Campus when IBM owned and operated it, is nowcompletely vacant, says CBRE's Frank Tomasulo who will be workingwith colleague Paul Hoffmann on marketing the property. The campus,which sits on 160 acres, has the largest block of quality multi-usespace for sale or lease in the Hudson Valley, Tomasulo adds. Thecampus features six buildings that offer office and manufacturingspace. About 80 acres of the campus could house further commercialdevelopment.