Jerry Moore, managing director of the Chatham, NJ-based Garibaldi, explains that the current owner/user, Bristol-Myers Squibb, picked up the two-building operation at 1000 Stewart Ave. and 500 Endo Blvd. two years ago, when the firm acquired DuPont Pharmaceuticals from the Dupont Co. "It was a contract-manufacturing plant," he explains, "producing blood-thinners, controlled substances, anti-virals and blood-pressure equipment." Those contracts are running out now, he explains, and Bristol-Myers has "adequate capacity," without the plant to handle its capacity."

The facility, says Moore, would be great for like-kind users, and that's who Garibaldi is targeting in an international search for pharmaceutical takers. "Given the equipment invested here and the infrastructure," he says, "it provides a unique opportunity for someone to come in, plug in and go," he says. It's a great opportunity, especially granted the replication costs for a facility like this." Rough estimates put replication costs at between $80 million and $100 million.

Corporate National's senior director Tom DiMicelli explains that the limited industrial market of Nassau County does present a unique opportunity. "It's a seller's market," he says. "Users and investors are finding it hard to find properties.

Senior director Douglas Omstrom adds that while there are more choices in the neighboring county of Suffolk, in Nassau, "there is virtually no industrial building. And even though this facility was built in 1964, it has been fully renovated over the years and is considered state-of-the-art in terms of pharmaceutical labs."