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NJ Developer Garibaldi Says Pharma Cos. Must Lower Asset Value Expectations

CHATHAM, NJ—Pharmaceutical companies will need to lower their asset price expectations as they bail out of unneeded office and research facilities, Jeffrey Garibaldi, president of the Garibaldi Group, a leading New Jersey developer, tells GlobeSt.com exclusively.

By Steve Lubetkin | Updated on August 11, 2014

CHATHAM, NJ—Pharmaceutical companies will need to lower their asset price expectations as they bail out of unneeded office and research facilities, Jeffrey Garibaldi, president of the Garibaldi Group, a leading New Jersey developer, tells GlobeSt.com exclusively.

Echoing comments GlobeSt.com reported yesterday by James W. Hughes, dean of the Edward J. Bloustein School of Planning and Public Policy at Rutgers University, Garibaldi tells GlobeSt.com that “The challenge Big Pharma faces today is that pharma doesn’t operate in major research campuses like the ones built over the past 50 years.”

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