Property leased by Plug Power lined up for potential $42M sale
- cornichewebdev
- Mar 7, 2025
- 1 min read
In a noteworthy real estate development in the Capital Region, the property currently leased by hydrogen fuel-cell producer Plug Power — which serves as the company’s headquarters and manufacturing complex in Slingerlands — could soon change hands under a planned transaction involving Vista Real Estate Development and associated entities, according to reporting by the Albany Business Review.
The deal, reportedly valued at approximately $42 million, centers on a 26-acre site at 125 Vista Blvd. within the Vista Technology Park off Route 85, where Plug Power has established its presence with a 350,000-square-foot facility that opened around early 2023. Under existing arrangements, Columbia Development-linked Campus Associates XI LLC owns the land, while Vista Real Estate holds a ground lease that is sublet to Plug Power, positioning the potential sale as a significant move in local industrial real estate and clean energy infrastructure. This transaction reflects broader shifts in the company’s strategic footprint in New York’s burgeoning hydrogen economy, set against a backdrop of ongoing public and private investment in green energy manufacturing in the region.
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