Colliers Houston's president David Houston and VP Milt Charbonneau, as well as Pyramid Brokerage Co.'s president Maureen DeJure Wilson, and associate broker Kevin Besser, will lead the marketing program on behalf of the owner, P&G Pharmaceuticals, under an agreement with P&G Pharmaceuticals. Houston tells GlobeSt.com that the building is on the market because Procter & Gamble has decided to consolidate some of its operations.

There is no asking price, Houston says, and he could not provide a comp value at this time, however he did note that there is no price partly because of the value-add that the facility has to offer. Building 42 contains analytical laboratories, administrative offices, a suite of laboratories for the production and analysis of radiochemical compounds, two videoconference suites, the cafeteria and the library. Building 46 contains chemical development laboratories, chemical development pilot plants, a suite of cGMP kilo labs, a suite of cGMP clinical drug product pilot plants, a cGMP warehouse, and offices. Building 99 was originally constructed as an animal research facility, and has since been renovated for non-cGMP pharmaceutical development laboratories and pilot plants. Building 99 also contains the IT LANs and offices. Buildings 1 and 7 are Active Pharmaceutical Ingredient manufacturing buildings. There are also numerous outbuildings, including warehouses, solvent buildings, boiler house, well houses, and storage buildings and offices.

"Not only does the facility have equipment available, it is completely operational and all permits are in place," he says. Houston adds that the building has been "immaculately maintained" and also offers buyers extra land "to do with what they like." Also, he says, the town is eager to get someone in and help them out as best they can. Other amenities include two videoconference suites, chemical development laboratories, purified water, electronic security and guardhouse, cafeteria, library, an updated sprinkler system and a 37,400-sf parking lot.

Houston tells GlobeSt.com that the facility would be a perfect place for anyone looking to start up any sort of research facility such as a biotechnology corporation or pharmaceutical company. He says that "a number of people have already shown interest" and toured the facility, located on the banks of the Chenango River, with access to New York State Routes 12 and 320, Interstates 81, 88 and 90, Lt. Warren Eaton Airport and Binghamton Airport.

Norwich is the county seat for Chenango County, NY and is located in the hills of Central Upstate New York., close to Binghamton. There is also proactive economic development assistance in the area. According to Colliers website, Chenango County's economic development partners work closely with state and local development organizations to "enhance business and industry and to create and retain jobs in the area."

Continue Reading for Free

Register and gain access to:

  • Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Natalie Dolce

Natalie Dolce, editor-in-chief of GlobeSt.com and GlobeSt. Real Estate Forum, is responsible for working with editorial staff, freelancers and senior management to help plan the overarching vision that encompasses GlobeSt.com, including short-term and long-term goals for the website, how content integrates through the company’s other product lines and the overall quality of content. Previously she served as national executive editor and editor of the West Coast region for GlobeSt.com and Real Estate Forum, and was responsible for coverage of news and information pertaining to that vital real estate region. Prior to moving out to the Southern California office, she was Northeast bureau chief, covering New York City for GlobeSt.com. Her background includes a stint at InStyle Magazine, and as managing editor with New York Press, an alternative weekly New York City paper. In her career, she has also covered a variety of beats for M magazine, Arthur Frommer's Budget Travel, FashionLedge.com, and Co-Ed magazine. Dolce has also freelanced for a number of publications, including MSNBC.com and Museums New York magazine.