By Joshua Burd
An affiliate of a Somerset-based pharmaceutical firm has acquired a 56,000-square-foot warehouse in Branchburg, according to the brokerage GM Realty Advisors Inc.
The buyer, Grapefruit Realty LLC, paid an undisclosed price for the property at 41 Imclone Drive, which sits just south of Route 202. Its plans for the site, the former headquarters of a stainless steel manufacturer, were not immediately clear.
George P. Molloy of Princeton-based GM Realty represented the buyer in conjunction with its CEO, Madhav Pai, who also leads Aspire Pharmaceuticals based in the Somerset section of Franklin. Peter Gallicchio of Remco Realty represented the seller, GM Stainless Inc.
Additionally, Timothy McKeown of Norris McLaughlin PA and Simone Wilson-Brito of McCarter & English LLP provided legal counsel to the seller and buyer, respectively.
