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Aceto buys itself a building in Port Washington

Pharmaceutical distributor Aceto Corp. is moving from Lake Success to a newly purchased headquarters building in Port Washington.

Aceto said Monday that it has bought a two-story building, at 4 Tri Harbor Ct., with about 50,000 square feet of office space.

The company hopes to complete its move by April 2011 before the expiration of its current lease at 1 Hollow Lane, Lake Success.

"We are excited with the purchase of a building that will become the future, global headquarters for Aceto Corp.," president and chief executive Vince Miata said in a news release. Owning the building is expected to save the company money, and it may also gain in value, he said.

"The purchase of the building also provides us with a platform from which we can continue to grow Aceto for the foreseeable future," Miata said. "In addition, we believe that owning this building will create a more positive image for Aceto amongst our employees, business partners and shareholders."

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