EAST
RUTHERFORD, N.J., June 20,
2024 /PRNewswire/ -- Seagis Property Group ("Seagis")
announced today that it closed on a warehouse facility located at
333 Veterans Boulevard in Carlstadt,
NJ. The building totals 19,974 square feet, features 16'
clear ceiling heights, and is situated on +/- 1.0 acres in the
Gotham Industrial Park, located within the Meadowlands submarket of
Northern New Jersey. The property
has excellent access to the New Jersey Turnpike and close
connectivity to Manhattan and
Port Newark. Acquired
vacant, Seagis plans to upgrade the property and market it for
lease.
Seagis purchased the property from a private owner. Tom Nuara, Principal, from Resource Realty
represented Seagis and the seller in this transaction.
"We are pleased to add another well-located Northern New Jersey building to our growing
Meadowlands portfolio," said Tyler
Baker, Vice President, who is based out of Seagis' local
office in Northern New Jersey.
"This property works well within the local market, offering tenants
a stand-alone 20,000 square foot building with three loading docks
and under 10% office. Immediately upon closing, we plan to invest a
significant amount of capital to bring the building to today's
market standards and align with our existing portfolio. This
opportunity perfectly aligns with our investment strategy, to
secure well-located, functional warehouses in strong in-fill
locations. We will continue to seek out investment opportunities to
increase our portfolio concentration in this submarket."
This is the Company's fourteenth investment in the Meadowlands
submarket, where its portfolio now totals 1.36 million square feet
and expands its overall NJ portfolio to over 5.7 million square
feet and forty logistics properties.
For more information about this property, please contact
Tyler Baker at
tbaker@seagisproperty.com
About Seagis Property Group
Seagis Property Group is a privately held real estate owner
focused on the acquisition and development of industrial properties
in global logistics hubs along the Eastern Seaboard. The company's
portfolio spans more than 11.7 million square feet of space and
includes 190 buildings in New
Jersey, New York City, and
South Florida. Seagis acquires
core, value-add and development real estate for warehouse/logistics
use. The company was founded in 2005 and is headquartered in
Conshohocken, Pennsylvania. For
more information, visit www.seagisproperty.com.
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SOURCE Seagis Property Group LP