170 Mount Airy Road in Basking Ridge — Courtesy: The Garibaldi Group
By Tina Traster
A pharmaceutical company has purchased an office complex in Basking Ridge for $4.6 million, in a deal arranged by Kislak Commercial Real Estate Services Inc. and The Garibaldi Group.
Peter Wisniewski, an executive vice president with Kislak, represented Aucta Pharmaceuticals Inc. in buying the 52,068-square-foot complex at 170 Mount Airy Road. Garibaldi’s Brian Cass and Peter Blanchard marketed the property on behalf of the seller, an affiliate of the law firm McElroy Deutsch, in tandem with General Counsel Lucille Karp.
“Aucta is an innovative, growing pharmaceutical company in New Jersey that understands the demand for better quality and research to deliver the best products available to those that need them,” Wisniewski said.
The 52-year-old property, which was vacant at the time of the sale, includes five interconnected one- and two-story brick buildings on 8.39 acres with parking for 190 cars, Kislak said. Once Aucta establishes its facilities, it may offer available space to other lab and office companies looking to expand in the market.
“Given a true lack of fully vacant buildings that users can purchase versus lease in this particular size range, this asset drew interest from an incredibly wide array of buyers,” Cass said. “We are thrilled to have completed this transaction on behalf of a longtime client of the firm.”
Tina Traster is a freelance writer and the editor of Rockland County Business Journal. She is also a former business writer for Crain’s New York Business, real estate writer for the New York Post and staffer at the Bergen Record.
