CRANBURY, NJ-Pharmaceutical giant Bristol-Myers Squibb has officially put its 224,000-sf distribution center here on the market, and has tapped the Chatham, NJ-based Garibaldi Group to either lease or sell the building for single or multiple tenant use. The facility became expendable in the wake of the company's consolidation of its national distribution network, and as reported earlier this year by GlobeSt.com, the local operation will be moved to a newer facility in Indiana.
Handling the assignment for Garibaldi will be Robert T. Morford, Gerald E. Moore Jr., James Bortolotti and C.J. McCourt. The firm has a long track record with BMS, having handled many of the company's real estate assignments dating back to 1987.
Coincidently, Garibaldi is currently co-handling, with Woodbury, NY-based Corporate National Realty, the disposition of BMS's 180,000-sf manufacturing facility in Garden City, NY. While a $40 million price tag has been put on the Garden City facility, company officials have not yet announced an asking price for the Cranbury facility.
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