Westchester sci center fetches $27m.

Cushman & Wakefield, Inc. announced today that a growing biotech firm, OSI Pharmaceuticals, Inc., has acquired Ardsley Park Science & Technology Center, the 43-acre former Purdue Pharma campus in the Town of Greenburgh's Ardsley section.

The Westchester County site will serve as the company's new headquarters, with operations consolidated from locations in Melville and Farmingdale, N.Y.; Cedar Knolls, N.J.; and Boulder, CO.

Cushman & Wakefield's Tom Giannone, Chris Kinum, Ron Ganter and John Cahill--all members of the firm's Global Life Science Practice Group based in East Rutherford, N.J.--represented Purdue Pharma in the $27 million sale, along with Andrew Merin, David Bernhaut, Gary Gabriel and Jose Cruz of the firm's East Rutherford-based Metropolitan Area Capital Markets Group.

Ardsley Park Science & Technology Center, located at 410-460 Saw Mill River Road, includes 400,000 s/f of existing office, laboratory and manufacturing space, as well as specialty pharmaceutical installations.

The six-building campus originally was built for Ciba-Geigy in 1956, and that company occupied it through 1995. Purdue Pharma purchased the property in phases before vacating it in 2005--at which time the company retained Cushman & Wakefield to market it.

"This campus benefits from its position within the northern cluster of the regional biotech corridor that stretches from Westchester County south to West Chester Township in Pennsylvania," Giannone said.

"Still, as with any life sciences property, its highly specific infrastructure and technical build-out required just the right buyer, and finding the perfect mid-size biotech company had become increasingly challenging as economic conditions continued to deteriorate," he continued in saying.

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