Former Novartis Pharmaceutical Production Campus

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1 Former Novartis Pharmaceutical Production Campus 25 Old Mill Road, Suffern, NY 585,000 SF Multi-Building Complex Offer for Lease Offering Memorandum Watermark Associates, LLC. 54 W. 47 th Street New York, NY

2 Property Description Number of Stories: Availability: Lot Size: Parking: Zoning: 1 to 4 stories (varies by building) From 500 sq. ft. up to 585,000 sq. ft. or built to suit up to 800,00 sq. ft. 162 acres 667 surface spaces Planned Light Industrial (125.5 acres) and Planned Industrial (36.5 acres) 2

The Campus contains three interconnected office/head building which features a 7,000 SF conference/meeting rooms, and analytical Property Description buildings including a 55,000 SF fullservice

The 425,000 SF production/manufacturing building is designed as a multi-product, high volume manufacturing operation with flexible and efficient product flow; the production building contains

3 The Campus contains three interconnected office/head building which features a 7,000 SF conference/meeting rooms, and analytical Property Description buildings including a 55,000 SF fullservice cafeteria area, multiple laboratories. The 425,000 SF production/manufacturing building is designed as a multi-product, high volume manufacturing operation with flexible and efficient product flow; the production building contains specialized areas including granulation suites, blending rooms, encapsulation suites, analytical laboratories, inspection areas and packaging lines. The layout of the Complex facilitates the transfer of packaged products to the warehouse/shipping area; the 74,000 SF receiving and warehouse building features 90 ceiling height and a fully automated racking system with over 11,500 pallet positions. The Property is fully approved for pharmaceutical production; the Company has also met the rigorous federal requirements for on- site controlled substance handling and vault storage. The 162-acre site contains a dedicated electrical substation and a 24,000 SF energy center which features redundant systems including excess boiler capacity (4 gas/oil boilers), and redundant chillers (4 chillers). The Campus security system includes a manned guard/gate house, as well as camera monitoring throughout the buildings. The site s excess land provides a tenant a spacious environment The Property is located adjacent to Interstate 287/87 (the New York State Thruway), is within minutes of Route 59 and Route 17, and is approximately 10 miles west of the Tappan Zee Bridge. Centrally located within the tri-state region, the Property is situated 30 miles from New York City, is within 15 miles of numerous Northern New Jersey corporate campuses, is located 20 miles from downtown White Plains, NY and is 30 miles from Fairfield County, CT. The Campus is located in Rockland County, NY, which is home to Avon s Global Research & Development Center and is part of a regional Biopharma cluster that includes Teva, Bayer, Pfizer, Acorda Therapeutics, Par, and Regeneron. The region has attracted national and international pharmaceutical and biotech companies, as well as Fortune 500 corporations, that are drawn by the area s deep and skilled labor pool, diverse housing base, extensive highway network, and proximity to New York City. 3

Rare Pharmaceutical Manufacturing Facility Unique in the Region: The Property represents a one of a kind facility in the region; there are currently no operational, equipped, high-capacity

The cost to construct a high capacity, 585,000 SF pharmaceutical production campus similar to the Novartis Campus would likely exceed $400 million.

4 Rare Pharmaceutical Manufacturing Facility Unique in the Region: The Property represents a one of a kind facility in the region; there are currently no operational, equipped, high-capacity pharmaceutical production facilities available in the tri-state region. The cost to construct a high capacity, 585,000 SF pharmaceutical production campus similar to the Novartis Campus would likely exceed $400 million. Flexibility: The production building contains 13 packaging lines plus a containment area; there is also space to add packaging lines (Novartis previously removed two lines from the building). A user also has the flexibility to convert the lines from dry dosage to liquid or ointment packaging; the cost to modify the existing lines would be significantly lower than the cost to construct new production lines. Configured for Controlled Substances: The controlled substance vault in the production building, as well as the separate containment area for controlled substances in the warehouse building, allow a user the potential to package and/or store controlled pharmaceuticals. FDA Approved Operating Plant: The Property s current status as a federally approved operating pharmaceutical plant would enable a likekind user to reduce the time required to acquire approvals. The reduced time and paperwork would provide significant cost savings. Strategic Location Rockland County is at the crossroads of the major business centers in the region including Westchester County, New York; Northern New Jersey; and Fairfield County Connecticut. The principal roadways and interstate highways that traverse the region; I-287, I-87, Palisades Interstate Parkway, Route 202 and Route 17; provide connections to the Tappan Zee Bridge, New York City, as well as major cities throughout the northeast corridor. Key tri-state airports, including Newark Liberty International Airport, Westchester County Airport and LaGuardia, are within 40 miles of the Campus (Kennedy Airport is less than 50 miles from the Property). 4

Well Maintained Facility The Property benefits from a high level of care and maintenance, and a robust infrastructure which currently supports the demanding requirements of the pharmaceutical

Redevelopment Potential The buildings and improvements encompass 50 acres of the 162 acre site; the excess land could be utilized for an expansion of the Campus or to introduce alternate uses.

5 Well Maintained Facility The Property benefits from a high level of care and maintenance, and a robust infrastructure which currently supports the demanding requirements of the pharmaceutical production. The Plant s redundant systems provide operational continuity and a high level of capacity including 200,000 lbs per hour of steam, and 3,900 tons of cooling capacity. Redevelopment Potential The buildings and improvements encompass 50 acres of the 162 acre site; the excess land could be utilized for an expansion of the Campus or to introduce alternate uses. The Property is situated in New York State which is known for its business friendly environment, offering businesses a wide range of incentive programs to assist national and international companies via Empire State Development and NYSEG. (NYSEG offers incentives in the form of energy rate discounts.) Assistance is also available from the Hudson Valley Economic Development Corporation which works with local Industrial Development Agencies and the Empire Development Corporation. The state s pro business environment and financial assistance programs, the Property s central location in the region, and the area s extensive highway network presents a tenant with a favorable opportunity to pursue either a biotech/ life science expansion or alternative use of the site. 5

6 Zoning 6

7 Maps 7

8 Floor Plans 8

9 Floor Plans 9

to the south. Rockland County is part of the greater New York metropolitan area, which includes New York City s boroughs and Long Island, New Jersey and Connecticut.

10 The Property is situated in the Village of Suffern, in the Town of Ramapo, in Rockland County, New York. Rockland County is located in the southern portion of New York State directly northwest of New York City and bordered by the Hudson River to the east, Orange County to the northwest, and New Jersey to the south. Rockland County is part of the greater New York metropolitan area, which includes New York City s boroughs and Long Island, New Jersey and Connecticut. The 23-county New York City metropolitan region has a population in excess of 20 million, making it the most densely populated metropolitan area in the nation. Rockland County consists of six towns, including Orangetown, Clarkstown, Ramapo, Haverstraw, and Stony Point, which contain smaller villages - such as Suffern - with a total County population of approximately 321,000 people. Rockland County s proximity to New York City (30 miles), and central location with convenient access to Westchester, New Jersey and Connecticut, has played an important role in its appeal and growth. Businesses are also attracted by the area s deep and educated labor pool. Location & Demographics 10

11 Location & Demographics 11

12 Location & Demographics 12

13 Location & Demographics 13

14 Location & Demographics 14

15 Manufacturing Equipment Overview 15

16 Manufacturing Equipment Overview 16

17 Manufacturing Equipment Overview 17

18 Management Team MANAGEMENT TEAM 18 presented

19 Market Analysis (Rental) 19 presented

20 Market Analysis (Rental) 20 presented

21 Market Analysis (Sales) 21 presented

22 Market Analysis (Sales) 22 presented

23 Former Novartis Pharmaceutical Production Campus Offer to Lease Lazer Philipson Executive Director Mobile: (845) Watermark Associates, LLC. 54 W. 47 th Street New York, NY Jay Yunger Managing Director Mobile: (718) presented

KING STREET A SPECTACULAR 287,000-SF CORPORATE HEADQUARTERS OPPORTUNITY FOR SALE OR LEASE ARMONK, NEW YORK

KING STREET A SPECTACULAR 287,000-SF CORPORATE HEADQUARTERS OPPORTUNITY FOR SALE OR LEASE ARMONK, NEW YORK KING STREET ARMONK, NEW YORK A SPECTACULAR 287,000-SF CORPORATE HEADQUARTERS OPPORTUNITY FOR SALE OR LEASE 113King_electronic brochure_layout 1 10/17/13 12:05 PM Page 2 SOUTH BUILDING 113King_electronic