Pharmaceutical company buys Basking Ridge complex for $4.6 million
Seeking a larger footprint in a convenient location, Aucta Pharmaceuticals Inc. acquired a five-building corporate complex located in Basking Ridge, offering almost immediate access to Interstate 287 and less than 2 miles from the downtown Bernardsville.
Kislak Commercial Real Estate Services Inc. Executive Vice President Peter Wisniewski represented the buyer in the $4.6 million deal for 170 Mount Airy Road, while the Garibaldi Group facilitated the side deal. of the owner. The seller of the 52,068 square foot property, according to Garibaldi, is a wholly-owned company of law firm McElroy Deutsch.
Brian Cass and Peter Blanchard of Garibaldi have marketed the property on behalf of McElroy Deutsch throughout the pandemic, attracting considerable interest from a range of potential buyers, including residential and industrial developers, colleges, hospitals, laboratory users, etc. Lucille Karp, general counsel for McElroy Deutsch, represented the seller in the transaction.
“Given a real lack of fully vacant buildings for users to buy versus rent in this particular size range, this asset has attracted interest from an incredibly wide range of buyers,” Cass said. . “We are delighted to have completed this transaction on behalf of a long-time customer of the Company.”
For Kislak, the deal marks the second Wisniewski has made with Aucta in the past two years.
“Aucta is an innovative and growing New Jersey pharmaceutical company that understands the demand for better quality and research to deliver the best products available to those who need them,” he said in a statement. .
Situated on 8.39 acres and built in 1970, the one and two story brick buildings at 170 Mount Airy Road are interconnected. Parking for 190 cars is available and the property offers top notch landscaping in addition to walking paths and gardens.
According to Kislak, the property was vacant at the time of the sale. The company said that after Aucta moves to the site, it could make available space for other lab or office companies looking to expand into the market.
Aucta, with locations in Piscatway and China, is a technology company focused on the development and commercialization of branded specialty products.
Basking Ridge serves as a base for other major companies, including Verizon Wireless, Collabera, Lawyer.com, and Barnes & Noble College Booksellers.